For most of 2026, the story was simple: AI stocks up, crypto down. July flipped the script. Bitcoin and Ethereum posted the strongest monthly returns of any major asset class, while the trade that carried global equities all year came apart.
The scoreboard for July:
| Ethereum ($ETH) | +20% |
| Bitcoin ($BTC) | +9% |
| Russell 2000 | -3% |
| Nasdaq 100 | -9% |
| Chip stocks | -22% |
The odd part is that almost nobody in crypto felt like they were winning. The Crypto Fear & Greed Index sat at 28, firmly in "Fear" territory, on the same day Ethereum was printing a 20% month.
How did Bitcoin and Ethereum actually perform in July?
Ethereum entered the month around $1,600 and traded near $1,920 by July 29, a gain of roughly 20%.
ETH price USDBitcoin started July near $60,000 and change...
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