Crypto News Today (July 31): BTC On a Knife Edge, Australia Sues Telegram, and Binance US Eyes Prediction Markets
In crypto news today (July 31), Bitcoin climbed -0.4% overnight and is sitting just below $64,000 following a turbulent week that saw the Fed freeze interest rates on Wednesday, although SEC Chair Paul Atkins hinted at hikes to come, which has caused a slight weakening of crypto assets and stocks alike.
However, Bitcoin ETF flows continue to print green, with yesterday closing a second consecutive day of positive flows, this time with +$233M bought across the various products, with over $180M coming from BlackRock’s IBIT fund.
The total crypto market cap is up around +0.5% from yesterday, climbing to $2.29 trillion. Daily trading volume across crypto sits at $59.1Bn, down slightly from yesterday’s figure of $63.4Bn.
The Fear & Greed Index is sitting at 25/100, down three points from yesterday, and putting it back into ‘Extreme Fear’ territory. The struggle to leave the Extreme Fear zone is a clear indicator that market participants aren’t fully convinced that the bottom is in for crypto just yet.
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