The value of the total supply of all cryptocurrencies and crypto assets tracked similarly, dropping to $72bn, a figure that was 37 percent lower than its all-time high of $115bn set in June.
Overall, the figures observed for both bitcoin and the total cryptocurrency market were the lowest since late May. Further, the asset class was down 11% over a 24-hour span at publication, a time during which it shed roughly $9bn in value.
"It could be people who are not comfortable in holding bitcoin because of August 1st due date,"
Still, others suggested it could be a sign of market-fatigue long expected given the influx of relatively new traders in recent months.
Source: Coindesk