Bitcoin and Ethereum ended the trading period for July 27-31 lower as early optimism over easing geopolitical tensions gave way to renewed caution over US interest rates and weak crypto-market momentum.
Bitcoin began the week above US$65,000 after a pause in US-Iran hostilities sent oil prices lower and improved demand for risk assets. Ethereum outperformed initially, advancing to nearly US$1,950 as investors rotated into alternative cryptocurrencies.
The rally quickly faded because by July 31, Bitcoin was trading around US$63,870, leaving it roughly 2% below its early-week level, while Ethereum had retreated about 3% to US$1,890. Both declined more than 1% during the July 31’s session.
Hawkish signals from the Federal Reserve and continued uncertainty in the Middle East weighed on sentiment, while Bitcoin struggled to escape the US$62,000-US$65,000 range. Ethereum also failed to hold above the psychologically important US$2,000 mark.
