Bitcoin Price Falls by Over 1% Amid Options Expiry and Profit Booking

Bitcoin price fell by over 1% on July 31 as institutional investors adjusted their portfolios ahead of major options expiry and traders booked profits after a strong rally in July. The cryptocurrency traded near $63,900, despite posting significant gains throughout the month.

The combination of spot Bitcoin ETF outflows, a stronger US dollar, Federal Reserve uncertainty, and derivatives market activity weighed on short-term sentiment.

Analysts note that while the current weakness is a pause in the broader trend, a decisive move above $65,000 could revive bullish momentum. However, sustained trading below $63,000 may trigger additional selling pressure.