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Latest Prices

CoinDesk 20 Index: 1,888 −3.6%

Bitcoin (BTC): $58,764 −3.8%

Ether (ETC): $2,639 −3.7%

S&P 500: 5,455.21 +0.4%

Gold: $2,496 +2.3%

Nikkei 225: 36,726.64 +0.78%

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Bitcoin has fallen over 4.5% to under $58,500 in the last 24 hours, having dropped as low as $57,750. BTC losses led drops across major tokens, with ETH also down over 4.5% and SOL falling just under 4%. The broad-based CoinDesk 20, a liquid index tracking the largest tokens by capitalization, has lost 3.5%. Much of the drop came after U.S. July consumer price index (CPI) figures were released late Wednesday. The CPI increased by 2.9% year-on-year, as expected, the first time it has risen less than 3% since 2021.

Some traders expect bitcoin to drop as low as $55,000 in the near term, which could spell further losses for other major tokens. Crypto ( CRCW ) prices have been "highly sensitive" to U.S. economic data in recent months as investors prefer stability over riskier assets, according to K33 Research. “A new sell-off momentum is still the prevailing scenario, with a potential pullback to $55K,” Alex Kuptsikevich, the FxPro senior market analyst, shared in a Thursday note. “Data supporting the Fed's imminent easing of monetary policy may encourage the bulls to overcome the short-term downtrend and give the green light to rise to $66K.”

U.S.-listed spot bitcoin ETFs recorded $81 million in net outflows on Wednesday, ending a two-day positive streak. Grayscale’s GBTC registered $56 million in outflows, the most among counterparts, with Fidelity’s FBTC recording $18 million in outflows. Ark Invest’s ARKB and Bitwise’s BITB lost $6.7 million and $5.7 million respectively. Franklin Templeton’s EZBC and BlackRock’s IBIT were the only products with net inflows, adding a cumulative $6 million. Ether ETFs fared better, with $10 million in net inflows, extending a streak to three days. BlackRock’s ETHA recorded $16 million in inflows, while Grayscale’s ETHE lost $16 million. Grayscale’s mini Ether trust ETH, Fidelity’s FETH and Bitwise’s ETHW took on a cumulative $11 million inflows.

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