Crypto slides as BTC and ETH test lower ranges
Updated 2026-08-01 00:10 UTC · Sentiment: Bearish
BTC and ETH both fell about 2.8% over the past 24 hours, with BTC at 62,950 and ETH at 1,864 after trading near session lows. Overall tone is risk-off: whale flows were net sellers in both majors, taker flow favored selling, and Extreme Fear sentiment suggests weak confidence even as derivatives positioning remains long-heavy.
Key points
- BTC fell 2.834% in 24h to 62,950 after trading between 65,409.56 and 62,466; ETH fell 2.837% to 1,864.3 after trading between 1,936.15 and 1,848.7, showing broad pressure across majors.
- Derivatives positioning is still skewed long despite the selloff: BTC funding was +0.0042%/8h with OI up 2.7% and long/short at 2.21, while ETH funding was hotter at +0.0070%/8h with long/short at 2.64. That long bias raises retracement and volatility risk if price weakness continues.
- Taker flow leaned defensive rather than aggressive buying, with BTC taker buy/sell at 0.67 and ETH at 0.73, indicating sellers were more active in the most recent flow data.
- Recent 1h whale activity was clearly net negative: BTC large trades showed $1.04M buys vs $2.93M sells for a net -$1.89M, and ETH showed $91.6K buys vs $1.05M sells for a net -$961K. That supports the near-term bearish tone.
- Market sentiment is weak at Fear & Greed 25/100, labeled Extreme Fear. With no fresh major economic data released, traders may stay headline- and macro-sensitive, especially with CPI, PCE, FOMC, and jobs risk still flagged as volatility triggers.
What to watch: Over the next 24 hours, watch whether BTC can hold the 62.5k area and ETH the 1.85k zone, especially if macro headlines around CPI, PCE, FOMC, or jobs trigger volatility.
Simulation · not financial advice. This is a paper-trading market briefing based only on the provided snapshot data.