Bitcoin and ether edge higher as fear persists

Bitcoin traded near $63,450, up roughly 0.7 percent over the prior 24 hours, while ether added about 0.45 percent to change hands near $1,870. Most major tokens were little changed on thin weekend volume, with XRP among the larger gainers among the ten biggest cryptocurrencies by market value.

US spot bitcoin ETFs closed out the week to 31 July with a net outflow of $61.53 million, ending a three-week run of inflows, while spot ether ETFs added a further $27.42 million to extend their own streak to four straight weeks.

The Crypto Fear and Greed Index, a composite gauge of price momentum, volatility, market volume and derivatives positioning, held at 27, firmly in 'fear' territory even as both bitcoin and ether posted modest gains over the day.

A sentiment gauge stuck in fear while prices inch higher is not necessarily a contradiction: positioning usually catches up with price only after a move holds for several sessions, not one.