On July 21, Bitcoin (BTC) saw an upward trend after witnessing a 5-day streak in the currency exchange.
Bitcoin ETF Records Stability Despite Turmoil In Crypto Market
On July 20, Bitcoin ETFs recorded $226.8 million in inflows, according to Father’s side. This is the fifth straight day of success, bringing the total to $723.3 million. This is the longest winning streak since May. This is a sign of a strong resurgence of investor confidence after the turmoil in the crypto market.
The standard goes in Bitcoin ETFs it shows that institutional investors are comfortable with the current prices. The money has been doing well for many days in early July, including big days like $265.7 million on July 6 and $221.7 million on July 2, which ended a 10-day trip that produced more than $2.7 billion.
The latest tally, including $181 million, $108 million, and small positive days from July 14 to July 17, boosted the week’s total to positive territory for the second week in a row, totaling nearly $273 million in two weeks. BlackRock’s IBIT, Fidelity’s FBTC, and ARK’s ARKB are leading most sectors.
The entry comes at a time when Bitcoin has regained $66,000, with bullish sentiment in the crypto market. At the time of writing, BTC is currently trading $66,340 has changed to +1.61% week CoinMarketCap price. The daily trading price is close $29.72 billion, along with a market value of $1.33 trillion.
In the last 24 hours, the crypto market added about $63 billion in value, with major assets such as Ethereum, XRP, and Dogecoin witnessing gains. In almost a month, it is the first time that market sentiment has entered neutral territory.
Controlled Successes in the US and Russia Boost Crypto Sentiment
Today’s boom in the entire crypto market comes after the growth of the digital asset movement around the world.
In the US, the White House is said to have been involved in a move related to the most anticipated CLARITY Act. This bipartisan bill is expected to clarify the regulatory roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Morale conflict was a major obstacle in the conflict of interest for the administration bill. With the ethics debate now resolved, it will raise hopes that the bill can move forward in the Senate before the August term ends.
On July 21, the State Duma of Russia also passed a law on the crypto market. With this law, cryptocurrencies will now be treated as property in Russia. Apart from this, it creates a system for trading and saving under the supervision of the Bank of Russia.
It also bans unqualified sellers from buying 300,000 rubles a year ($3,800). Qualified sellers will not face a cap, but will have to pass a rigorous test. The newly issued law in Russia will come into effect on September 1, 2026. However, some of the provisions in the implementation plan will be issued later. This regulatory framework will open the door to stability at the border while restricting digital domestic payments.
Bitcoin Whale Rises 84,000 BTC After Price Drops Below $55,000
During a difficult time in the crypto market, Bitcoin whales took advantage and bought the dip when its price dropped below $55,000. Bitcoin whales have acquired billions of BTC dollars at low prices during dips. According to reportCrypto birds have acquired over 66,700 BTC, worth $4.415 billion, so far this month. This is one of the fastest growing monthly trends in the last few months.
““While Bitcoin’s price remains roughly 50% below its peak, wallets with between 1K and 10K Bitcoins have increased their purchases at the fastest rate in months,” CryptoQuant said. post on X.
The buying spree after BTC dropped below $55,000 at the beginning of the month before recovering to $66,000. While many traders are still hesitant to invest in the crypto market, whales are seeing the volatile period as a buying opportunity. This is a similar pattern shown in the accumulation phase in the last few movements of the bull.
Strategy has also added $500 million to its cash reserves through new convertible notes, all while keeping Bitcoin’s holdings unchanged. This shows the confidence of Bitcoin Treasuries in the digital economy.
