Crypto News Today July 30: Market Holds at $2.19 Trillion as Stock Sell-Off Deepens

The cryptocurrency market remained broadly stable on Thursday despite sharp volatility across global equities. Total market capitalisation held near $2.19 trillion over the previous 24 hours, with Bitcoin trading around $64,000 and Ethereum maintaining its recent upward trend.

The market stayed above its 50-day moving average, indicating that the medium-term outlook has continued to improve. Crypto assets also showed relative resilience during the Nasdaq-led stock market decline—a notable reversal from earlier in the year, when weakness in equities placed heavier pressure on digital currencies.

Performance among actively traded altcoins was mixed. Uniswap gained approximately 4%, while Zcash advanced 2.1%. In contrast, Dash and Aave each fell about 2.5%.

Bitcoin Consolidates Near $64,000

Bitcoin hovered around $64,000 on Thursday morning after buyers stepped in when the price approached $63,000. However, the cryptocurrency lacked sufficient momentum to resume a sustained advance as investors reduced exposure to risk-sensitive assets.

Growing institutional participation has made Bitcoin more closely connected to broader market sentiment. During risk-off periods, institutional investors may cut positions across several asset classes simultaneously, placing pressure on cryptocurrencies alongside technology stocks and precious metals.

Trading activity also remained exceptionally weak. CryptoQuant data showed that Bitcoin spot volume on major exchanges had dropped by more than 75% from its late-2024 peak.

K33 Research estimated that average daily Bitcoin spot volume fell to about $2.2 billion in July, putting the market on course for its quietest month since November 2023. Derivatives activity was similarly subdued, with CME Bitcoin open interest remaining near multi-year lows.

Ethereum Extends Four-Week Uptrend

Ethereum traded near $1,897 while continuing to move within an upward channel that has been developing for approximately four weeks.

Consistent buying during price declines has supported ETH since early June, although a sharp pullback near the end of that month temporarily disrupted the pattern. Market interest may also have received support from BitMine’s stated commitment to accumulating Ethereum, encouraging additional speculative demand.

Weak Institutional Activity Restrains the Market

Institutional investors remained cautious as inflows into cryptocurrency exchange-traded funds stayed limited. Major market participants were waiting for clearer guidance from the Federal Reserve on the direction of interest rates before increasing their exposure.

The broader decline in activity extends beyond Bitcoin. CoinGecko reported that spot trading volume across the ten largest centralised exchanges fell 27.9% quarter over quarter to $1.95 trillion in the second quarter of 2026. Average daily crypto-market volume also declined 20.9% to $93.1 billion.

Some crypto traders have increasingly shifted toward traditional assets, a rotation that accelerated following the escalation of Middle East tensions in February and became more widespread by July. As a result, the crypto market has retained its recent stability but continues to lack the volume and institutional demand needed for a stronger advance.

Start trading Crypto CFDs with Markets.com today! Claim up to $5,000 in bonuses and gain access to leading cryptocurrencies, powerful trading tools, and real-time market insights.