BTC and ETH Gain 11.6% and 24.6% in July as Fed Decision Looms

Digital assets outperform US equities in July with BTC up 11.6% and ETH up 24.6%. ETF outflows hit $311M, while options data shows hedging against macro uncertainty.

Woofun AI reports that QCP Capital’s latest Market Colour analysis highlights mixed US equity performance, with the S&P 500 rising 0.05% to 7412, Nasdaq falling 0.64% to 24976, and Dow Jones gaining 0.46% to 51947. The 10-year Treasury yield retreated to 4.67%, while the DXY stabilized near 101.4.

Despite macro headwinds, BTC and ETH appreciated by 11.6% and 24.6% respectively in July.

However, spot ETF inflows reversed on July 24th with $311M in net outflows. Options data indicates increased demand for downside protection, with ETH implied volatility exceeding BTC, suggesting hedging against upcoming FOMC decisions.