Crypto Market Today, July 31: Bitcoin Slides Below $63,000 and Coinbase Tumbles 10%
As of 4.30 p.m ET on July 31, Bitcoin (CRYPTO:BTC) fell 2.9% to $62,929.27, Ethereum (CRYPTO:ETH) fell 2.8% to $1,866.57, and Solana (CRYPTO:SOL) fell 2.0% to $73.04. All three major coins were broadly lower on easing risk appetite.
What's driving crypto markets
Bitcoin slipped below $63,000 today as a mix of factors weighed on the crypto market. These included news that three Federal Reserve board members voted to raise interest rates at Wednesday’s meeting, disappointing results from Coinbase Global (NASDAQ:COIN), and doubts that lawmakers would pass much-anticipated crypto legislation — the Clarity Act — this summer.
Crypto ETF snapshot
Spot Bitcoin ETFs saw positive flows yesterday, with $233 million in inflows despite risk-off sentiment pressuring prices. The iShares Bitcoin Trust ETF remains dominant, increasing its assets under management by $183 million yesterday. Indeed, Banco Santander (NYSE:SAN) disclosed yesterday that it held $4.31 million in shares in the popular Bitcoin ETF as well as around $3.54 million in the iShares Ethereum Trust ETF (NASDAQ:ETHA).
What this means for investors
Cryptocurrency prices slid this week, pressured by increasing geopolitical tensions, interest rate speculation, and a narrowing window for the Senate to pass the Clarity Act. Coinbase’s earnings miss didn’t help: The stock tumbled over 10% following disappointing results, which were largely due to low crypto trading revenues.
However, to put crypto’s struggles in context, equities have also had a rough few weeks — indeed, Bitcoin gained 4.3% in July while the Nasdaq Composite (NASDAQINDEX:^IXIC) fell by 3.2%. Broader progress, such as Morgan Stanley (NYSE:MS) launching new crypto ETFs this week, has helped crypto pull away from a disastrous June. Stablecoins and agentic AI payments could present solid use cases for blockchain, and those are the trends for long-term investors to watch.
Top 10 crypto performance
| # | Name | Price | 24h | 7d |
|---|---|---|---|---|
| 1 | Bitcoin (BTC) | $62,948.00 | -2.8% | -2.0% |
| 2 | Ethereum (ETH) | $1,867.24 | -2.8% | +0.3% |
| 3 | Tether (USDT) | $0.9989 | -0.0% | -0.0% |
| 4 | BNB (BNB) | $587.96 | -0.7% | +4.1% |
| 5 | USDC (USDC) | $0.9998 | +0.0% | -0.0% |
| 6 | XRP (XRP) | $1.06 | -2.2% | -2.2% |
| 7 | Solana (SOL) | $73.05 | -2.0% | -1.2% |
| 8 | TRON (TRX) | $0.3260 | -0.9% | -1.8% |
| 9 | Figure Heloc (FIGR_HELOC) | $1.03 | +2.6% | -0.2% |
| 10 | Hyperliquid (HYPE) | $51.98 | -5.8% | -10.5% |
Ranked by market cap. Data: CoinGecko, as of July 31, 2026 20:16 UTC.
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Emma Newbery has positions in BNB, Ethereum, and Solana. The Motley Fool has positions in and recommends Bitcoin, Ethereum, Hyperliquid, Solana, XRP, and iShares Bitcoin Trust. The Motley Fool recommends BNB, Coinbase Global, and TRON. The Motley Fool has a disclosure policy.
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