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Global markets suffered their steepest losses in over two months, with the Dow Jones (-1.2%), S&P 500 (-1.6%), and Nasdaq (-2%) all closing sharply lower after a deeply disappointing US jobs report showed only 73,000 payrolls added in July versus 100,000 expected, pushing unemployment to 4.2% and triggering a massive bond rally that sent two-year Treasury yields plunging 28 basis points to 3.68%. Political tensions escalated as President Trump fired the head of the Bureau of Labor Statistics and intensified pressure on the Federal Reserve for immediate rate cuts, while European markets fell 1.9% on renewed tariff concerns after Trump imposed a surprise 39% levy on Swiss imports and demanded pharmaceutical companies slash drug prices for Medicaid-covered drugs. Markets are now fully pricing in two Fed rate cuts in 2025 with a 90% probability of the first in September, while safe-haven flows pushed gold up 2.2% to $3,363 and the US dollar suffered its biggest decline in months as cryptocurrencies joined the risk-off move with Bitcoin falling to $113,240.

Cryptocurrency markets faced severe selling pressure with over $1 bn in liquidations recorded on August 1, 2025, as Bitcoin fell over 3% to $113.2k and Ethereum fell over 6% to $3,620, while total market capitalization plummeted 3.95% to $3.7 trillion. Long positions accounted for $922.2 million of the liquidations, with altcoins suffering deeper losses. Dormant Bitcoin miner wallets from 2010 moved 250 BTC worth approximately $30 million, adding to market anxiety about potential sell pressure.

Markets recovered slightly in the past 24h, with total cryptocurrency market capitalization rising 1.4% to $3.72tn while liquidations decreased 62% to $142.60m.

• According to data from SoSo Value, Bitcoin ETFs suffered their 2nd largest daily outflow on record with $812.25 million in net redemptions on August 1, 2025, as institutional investors fled risk assets amid the broader crypto market selloff, led by massive outflows from Fidelity’s FBTC at $331.42 million and Ark’s ARKB at $327.93 million, while even typically resilient BlackRock’s IBIT posted its first significant outflow in months at $2.58 million, with all 12 funds recording either outflows or zero activity as trading volume surged to $6.13 billion and total net assets fell to $146.48 billion. The week ending August 1 recorded $643.04 million in net outflows, marking a dramatic reversal from the positive momentum seen in previous weeks, with July 25 recording $72.06 million in inflows and the peak weeks of July 18 and July 11 seeing $2.39 billion and $2.72 billion respectively.

• Ethereum ETFs also recorded significant outflows of $152.26 million on August 1, 2025, the first daily net outflow since July 2nd’s $1.82m outflow, as institutional investors pulled back from risk assets during the broader cryptocurrency market selloff, with all major funds posting outflows led by Grayscale’s ETH at $47.68 million, Bitwise’s ETHW at $40.30 million, and Grayscale’s ETHE at $37.20 million, while even BlackRock’s typically dominant ETHA recorded zero activity, as trading volume reached $2.26 billion and total net assets fell to $20.11 billion. The week ending August 1 still managed $154.32 million in net inflows despite the final day’s outflows, though this represents a sharp deceleration from the explosive weeks ending July 25 and July 18 that saw $1.85 billion and $2.18 billion respectively.

• According to data from CryptoQuant, Bitcoin holders are selling as short-term holders sent over 40,000 BTC to exchanges at a loss on August 1 while whale deposits dominated with the Exchange Whale Ratio exceeding 0.70, contributing to Bitcoin’s drop below $112,000. Binance daily inflows have steadily risen from around 5,300 BTC to 7,000 BTC over the past month, ending a prolonged downtrend since March and signaling a shift in investor behavior toward selling pressure as large market participants exit positions.
• According to Arkham Intelligence, Chinese mining pool LuBian was hacked on December 28, 2020 for 127,426 Bitcoin worth $3.5 billion at the time (now valued at $14.5 billion), making it retroactively the largest cryptocurrency heist in history, with the attack going unreported by both parties for years and likely exploiting weak private key generation algorithms susceptible to brute-force attacks.
• The Disappearing Satoshi statue, a symbol of Bitcoin’s anonymity, was stolen in Lugano, prompting organizers to offer a 0.1 BTC reward to anyone who can provide information leading to its retrieval.
• A Deloitte survey found that 99% of CFOs at billion-dollar firms expect to adopt cryptocurrency in the long term, with nearly a quarter planning to integrate it within two years.