Bitcoin fell below $63,000 and Coinbase shares dropped over 10% on July 31 as risk appetite eased. Bitcoin declined 2.9% to $62,929.27, Ethereum fell 2.8% to $1,866.57, and Solana slipped 2.0% to $73.04. The sell-off followed news that three Federal Reserve board members voted to raise interest rates, disappointing earnings from Coinbase, and fading hopes for the Clarity Act crypto legislation this summer. Spot Bitcoin ETFs saw $233 million in inflows, with the iShares Bitcoin Trust ETF adding $183 million in assets, while Banco Santander disclosed holdings of $4.31 million in that ETF and $3.54 million in the iShares Ethereum Trust ETF. Despite the pullback, Bitcoin gained 4.3% in July, outperforming the Nasdaq Composite's 3.2% decline.
Coinbase Global IncDisappointing earnings and rate hike vote weigh on stock
Banco Santander S.A.
Morgan Stanley