The cryptocurrency market advanced modestly on Friday, July 31. Bitcoin remained above $64,000, Ethereum traded near $1,900 and capital rotated into BNB, Cardano and Hyperliquid.
Investors continued to digest the Federal Reserve's decision to hold interest rates steady, persistent US inflation and renewed spot ETF inflows. Overall conditions reflected low volatility and selective sector rotation.
Data convention: Prices represent a CoinGecko intraday snapshot at approximately 3:00 p.m. Malaysia and Beijing time, or UTC+8. The July 31 trading day was still in progress, so these are not final daily closing prices.
Market Overview
Total cryptocurrency market capitalisation was approximately $2.29 trillion, up around 0.5% over 24 hours. Trading volume was approximately $59.2 billion. Bitcoin dominance stood near 56.4%, while Ethereum dominance was approximately 10.0%. CoinGecko global market data
| Crypto Asset | Price | 24 Hours | Seven Days | Market Cap |
|---|---|---|---|---|
| Bitcoin (BTC) | $64,322.18 | +0.7% | -1.4% | $1.291 trillion |
| Ethereum (ETH) | $1,905.09 | +0.3% | +1.6% | $229.9 billion |
| BNB | $590.99 | +3.2% | +4.0% | $78.7 billion |
| XRP | $1.08 | +0.8% | -2.4% | $67.6 billion |
| Solana (SOL) | $74.28 | +1.1% | -1.9% | $43.1 billion |
| Hyperliquid (HYPE) | $55.57 | +3.0% | -5.4% | $12.4 billion |
| Dogecoin (DOGE) | $0.07014 | +0.7% | +1.6% | $10.9 billion |
| Cardano (ADA) | $0.1689 | +4.4% | +0.9% | $6.3 billion |
Global and Macro Context
Federal Reserve Holds Rates Steady
The Fed maintained the federal funds target range at 3.50%-3.75% on July 29. Nine officials supported the decision, while three preferred a 25-basis-point increase, highlighting stronger hawkish dissent. Axios FOMC report
US Inflation Moderated but Remained Elevated
The June PCE price index increased 3.7% year over year, down from 4.1% in May but still well above the Fed's 2% objective. US Bureau of Economic Analysis
ETF Flows Returned to Positive Territory
US spot Bitcoin ETFs recorded approximately $204.7 million in July net inflows through July 29. Twelve of the 20 reported sessions produced inflows, including $32.1 million on July 29. TFTC ETF flow table
Bitcoin Dominance Remained Elevated
BTC dominance above 56% indicated that the market had not entered a broad altcoin season. Performance remained concentrated in selected assets.
Major Asset Performance
Bitcoin
Bitcoin traded mainly between approximately $63,800 and $65,300, with the price near $64,322 at the reporting cutoff. It gained around 0.7% over 24 hours but remained down 1.4% over seven days.
Renewed ETF inflows provided support, while high interest rates, energy prices and inflation risks continued to restrict upside momentum.
Ethereum
Ethereum traded near $1,905, gaining 0.3% over 24 hours and 1.6% over seven days. Its weekly performance was slightly stronger than Bitcoin's, although $2,000 remained an important psychological and technical resistance level.
ETF demand, network activity, stablecoin settlement and real-world asset tokenisation remained major themes.
BNB, Cardano and Hyperliquid
BNB gained 3.2% to approximately $591. Cardano advanced 4.4%, making it one of the strongest large-cap assets, while HYPE rose 3.0% but remained down 5.4% for the week.
The moves showed selective demand for assets with recent underperformance or individual catalysts, but did not yet confirm a broad altcoin rally.
Stablecoins and Liquidity
USDT had a market capitalisation of approximately $183.7 billion, while USDC stood near $71.9 billion. Their combined value of roughly $255.6 billion indicated that substantial dollar-linked liquidity remained in the crypto ecosystem.
Assets to Watch
| Asset | Code | Reason |
|---|---|---|
| Bitcoin | BTC | ETF flows and overall market direction |
| Ethereum | ETH | Support near $1,900 and resistance at $2,000 |
| BNB | BNB | One of the strongest large-cap performers |
| Solana | SOL | Important indicator of altcoin risk appetite |
| Cardano | ADA | Strong daily gain, with follow-through still uncertain |
| Hyperliquid | HYPE | Derivatives and on-chain trading exposure |
Market Drivers
- The Fed held rates steady, but internal support for a rate increase grew.
- US PCE inflation moderated from 4.1% to 3.7%.
- Bitcoin ETFs returned to modest monthly net inflows.
- High Bitcoin dominance pointed to selective rotation.
- US economic releases later on July 31 could affect yields, the dollar and crypto volatility.
Outlook
Short-term technical reference levels at the reporting cutoff were:
| Asset | Support | Resistance |
|---|---|---|
| Bitcoin | $63,800-$64,000 | $65,300-$66,000 |
| Ethereum | $1,890-$1,900 | $1,935-$2,000 |
| Solana | $72-$73 | $75-$78 |
A Bitcoin break above $65,300-$66,000 could extend the recovery. A decline below $63,800 would increase the risk of another test of lower support. Interest-rate expectations, ETF flows and US economic data remained the principal short-term catalysts.
These levels are technical references based on historical price action, not investment advice.