KoinlyticsBitcoin closed the final trading session of July at $63,870, down 1.31% on the day, and Ether finished at $1,890, down 1.40%, according to CoinDesk market data captured at 11:07 a.m. ET on July 31. The double slip was enough to drag the CoinDesk 20 Index into a 2.34% weekly loss. It was not enough to erase the month. The benchmark still finished up 8.7% since the start of June, its largest monthly advance in a year.
What the tape actually shows
The pullback into month-end concentrated in the largest names. Bitcoin bled through the $64,000 handle in the New York morning and never reclaimed it. Ether followed the same shape. Not everything sold: Uniswap's UNI added 9.30% on the day and Cardano's ADA finished up 4.09%.
The month behind the month
Bitcoin dipped below $58,000 earlier in July before mounting the rally that carried the CoinDesk 20 to its best month since July 2025. The 8.7% index gain was built on that mid-month recovery, not on the last week.
What the flow desks are watching
Bears are being more aggressive thanks to negative cumulative volume delta across major tokens. When sellers are more willing than buyers to cross the spread and pay the ask on the way down, order books drift lower even without fresh news.
Why August matters more than the last week of July
US macro payrolls August 1. Clarity Act clock narrowing before Senate recess. Stablecoin liquidity contracting.
What to watch
The first three trading sessions of August will settle the argument. If BTC reclaims the $64,000 handle on volume and ETH holds $1,900, the July drawdown reads as a normal end-of-month sweep.
Source: CoinDesk