Bitcoin, ether fall, equities rally with broader crypto market on track for best month in a year
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- Bitcoin fell 1.31% to $63,870 and ether dropped 1.40% to $1,890 on July's last day, diverging sharply from equities as South Korea's Kospi surged 15% and Nasdaq 100 futures rose 1.23%.
- The CoinDesk 20 Index is on track for its biggest monthly gain since July 2025, up 8.7% since June despite a 2.34% drop since midnight Monday.
- UNI rose 9.30% on continued Robinhood layer-2 momentum and BlackRock's debut of its tokenized Treasury fund on Uniswap, while ADA gained 4.09% as the week's clearer bright spots.
- XRP futures open interest climbed to 2.27 billion tokens — the most since late June — while the token's price fell from $1.13 to $1.07, a combination the source says confirms the downtrend.
- BTC's 30-day implied volatility (BVIV) fell to 37%, the lowest since May, with the source noting that levels have historically served as floors before bounces in the 'fear index.'
- On Deribit, bitcoin and ether options worth $10 billion expired early Friday; the most popular remaining position is a $60,000 put.
- LIT fell 2.28%, now 20% below July highs after a 200% rally between May and early July, while ENA extended its recovery with a 4.31% 24-hour gain but remains 90% below its all-time high.
Why it matters: Crypto diverged sharply from equities on July's final day, with BTC and ETH sliding while Kospi surged 15%. Despite the CoinDesk 20's 8.7% monthly gain, the most popular remaining Deribit position is a $60,000 put — signaling traders are bracing for further downside even as the monthly chart remains bullish.
