According to Fixygen, the cryptocurrency market ended the week of July 27–August 1 mostly lower amid the U.S. Federal Reserve’s cautious stance, volatile inflows into exchange-traded funds, and weak earnings reports from Coinbase, the largest U.S. crypto exchange.
As of August 1, Bitcoin was trading at around $63,000, down from approximately $65,300 at the start of the week. Thus, the leading cryptocurrency lost about 3.6%.
Ethereum rose to nearly $1,950 at the start of the week but then also came under pressure. Most of the major altcoins were unable to sustain a steady upward trend, as investors preferred to reduce their positions in riskier assets. Solana largely remained within the $70–76 range throughout the week.
The main macroeconomic event of the week was the U.S. Federal Reserve meeting on July 28–29. The Fed kept the target range for the federal funds rate at 3.5–3.75%. At the same time, the regulator noted that inflation remains above the 2% target, particularly due to rising energy prices and other consequences of the conflict in the Middle East. An additional hawkish signal came from the fact that three members of the Federal Open Market Committee voted to raise rates by 0.25 percentage points.
For cryptocurrencies, this means that expensive dollar liquidity will persist. With high interest rates, investors receive attractive yields on government bonds and money market instruments, which limits the inflow of capital into Bitcoin and altcoins.
The market had been hoping for at least some softer rhetoric from the Fed, so the lack of a signal regarding an imminent rate cut was one of the reasons for Bitcoin’s decline in the second half of the week.
U.S. spot Bitcoin ETFs ended the week with a combined net outflow of about $61.5 million. On Monday and Tuesday, investors withdrew $11.6 million and $49.7 million, respectively. On Wednesday, the funds recorded an inflow of $32.1 million, and on Thursday, $233.1 million. However, on Friday, $265.4 million was withdrawn again. This pattern indicates that there is no sustained institutional demand yet. Positive inflows last for one or two days, after which they are followed by comparable or even larger outflows.
Friday’s outflow from BlackRock’s IBIT fund was particularly notable at $122.7 million. $54.8 million was withdrawn from Fidelity’s FBTC, and $52.6 million from Grayscale’s GBTC.
Until Bitcoin ETFs return to a steady inflow of funds, a price recovery above the nearest resistance levels will be difficult.
Coinbase’s financial results put additional pressure on the market. The largest public crypto exchange in the U.S. reported its third consecutive quarterly loss. Following the release of the report, Coinbase’s stock price fell, and analysts noted challenging conditions for cryptocurrency trading and a lack of clarity regarding the timeline for a recovery in trading volumes.
Declining activity among retail investors is one of the main risks for the market. Despite Coinbase’s share of cryptocurrency trading rising to 10.3%, overall market volumes remain weak.
At the same time, the company continues to reduce its reliance on spot trading fees and is expanding its business in stablecoins, derivatives, digital asset custody, and blockchain infrastructure. However, this is more of a long-term positive factor and does not yet offset the decline in speculative activity.
One of the week’s trends was investors’ continued tendency to focus on the largest and most liquid digital assets. When macroeconomic risks intensify, capital typically flows out of smaller tokens faster than out of Bitcoin. As a result, altcoins may decline even if the price of Bitcoin remains relatively stable.
Ethereum maintains fundamental support thanks to the network’s use in decentralized finance, asset tokenization, and infrastructure projects. However, for a sustainable recovery, it needs a rebound in demand across the entire crypto market and stabilization of Bitcoin.
Solana and other highly volatile assets may experience short-term spikes, but without an increase in liquidity, such movements are likely to remain unsustainable.
The base case scenario for early August remains Bitcoin’s consolidation within the $60,000–$66,000 range. The nearest support zone is the $62,000–$63,000 range. However, $60,000 remains the key psychological and technical threshold. A resurgence of geopolitical tensions or continued outflows from ETFs could lead to a retest of this level.
A sustained move below $60,000 would increase the likelihood of a decline toward the $55,000–58,000 range. For this scenario to play out, a combination of several negative factors would be required: a further strengthening of the dollar, rising U.S. Treasury yields, significant outflows from ETFs, and a deterioration in stock markets.
For Bitcoin to resume its upward trend, it must return above the $64,700–$66,000 range. In this case, the next targets could be $68,000 and $70,000.
A positive scenario is possible provided there is a return of steady capital inflows into Bitcoin ETFs, a reduction in geopolitical risks, and the release of weak U.S. economic data, which would reinforce expectations of future Fed policy easing.
If the market stabilizes, Ethereum may attempt to climb back above $1,900. However, should Bitcoin fall to $60,000, pressure on Ethereum and most altcoins will intensify.
Thus, in early August, the market will most likely remain volatile and dependent primarily on inflows into U.S. ETFs, U.S. macroeconomic data, and the situation in the Middle East. There is no clear signal yet that the correction has ended, but Bitcoin holding the $60,000 level will support the possibility of a further recovery.
Bitcoin is the largest cryptocurrency by market capitalization, created in 2009. Ethereum is the second-largest digital currency and serves as the underlying asset for the Ethereum smart contract network.
According to the analytics department of the Fixygen.ua project, the passage of a U.S. law on the structure of the digital asset market, the finalization of stablecoin regulations, and the further expansion of banks’ access to cryptocurrency transactions could be the key government decisions capable of positively impacting the cryptocurrency market in the second half of 2026.
Analysts at JPMorgan, Citigroup, and Bitwise cite the passage of the U.S. Digital Asset Market CLARITY Act as the most significant potential development. The bill aims to delineate the authority of the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), as well as establish federal regulations for cryptocurrency exchanges and token issuers.
JPMorgan analysts, led by Nikolaos Panigirtzoglou, previously noted that the passage of legislation regarding the structure of the crypto market could serve as a positive catalyst for digital assets in the second half of 2026. The law has the potential to reduce legal risks and facilitate participation in the sector by banks, asset management firms, and other institutional investors.
Citi strategist Alex Saunders also believes that regulatory changes will stimulate the further adoption of cryptocurrencies and an influx of capital. However, the bank warned that the window for passing the law in 2026 is narrowing. The delay in considering the CLARITY Act has already become one of the reasons for Citi’s downward revision of its forecasts for Bitcoin and Ethereum.
Bitwise Chief Investment Officer Matt Hogan expects a sharp improvement in market sentiment if a version of the CLARITY Act acceptable to the cryptocurrency industry is passed. In his view, the lack of a final decision maintains uncertainty and is causing institutional investors to postpone investments.
As of the end of July, the bill had made progress in the Senate, but it requires the support of some Democrats for final passage. Controversial issues include rewards for stablecoin holders, anti-money laundering requirements, regulation of decentralized platforms, and restrictions on high-ranking politicians’ involvement in cryptocurrency projects.
A second potential catalyst could be the publication of the final implementing rules for the GENIUS Act, which was signed into law in the U.S. in July 2025.
The law established a federal regulatory framework for payment stablecoins, but a number of provisions require additional regulations from the Department of the Treasury, banking regulators, and financial monitoring agencies.
On April 1, 2026, the U.S. Treasury Department presented the first draft of regulations defining the conditions under which state-level regulation of issuers can be considered comparable to the federal system. A week later, FinCEN and OFAC proposed requirements regarding anti-money laundering and sanctions compliance.
The publication of the final rules could allow banks and payment companies to launch their own stablecoins more quickly, as well as increase demand for blockchain infrastructure, tokenized assets, and digital asset custody services.
Bitwise notes that the volume of tokenized real-world assets has grown by 50.3% since the beginning of 2026, reaching $32.89 billion. In terms of transaction volume, stablecoin transactions are already 2.3 times higher than those of the Visa payment system.
Ethereum, Solana, and other networks actively used for issuing digital dollars, tokenizing assets, and international settlements stand to benefit most from the completion of stablecoin regulation.
A third potential positive development will be further clarification of the legal status of certain cryptoassets and staking transactions.
On March 17, 2026, the SEC and CFTC issued a joint interpretation stating that most cryptoassets are not securities in and of themselves. The document also clarifies the application of the law to mining, staking, airdrops, and inverse tokens.
The next positive step for the market could be formal rules that allow cryptocurrency companies to determine in advance whether a specific token falls under the jurisdiction of the SEC or the CFTC.
Another catalyst could be the further approval of exchange-traded funds that utilize staking. Such products allow investors not only to gain price exposure to cryptocurrencies but also to participate in the revenue generated from transaction validation.
By 2026, exchange-traded products featuring staking of Solana, Avalanche, Ethereum, and other tokens had already appeared in the U.S. The expansion of such authorizations could increase institutional demand, primarily for cryptocurrencies that operate on a Proof-of-Stake mechanism.
A fourth potentially positive development could be the CFTC’s authorization for regulated U.S. platforms to organize spot trading in digital assets.
The CFTC’s Crypto Sprint program is scheduled to run through August 2026 and aims to develop regulated spot trading of crypto assets, enable the use of stablecoins and tokenized assets as collateral, and adapt infrastructure to support 24/7 trading and blockchain-based settlements.
The emergence of regulated spot trading platforms could attract brokers, banks, and professional managers to the market, who are currently constrained by internal rules or counterparty requirements.
This could also reduce U.S. investors’ dependence on foreign trading platforms and increase the liquidity of Bitcoin, Ethereum, and other assets that the CFTC officially classifies as digital commodities.
Analysts consider the further lifting of regulatory restrictions on banks to be a fifth potential catalyst.
The U.S. Office of the Comptroller of the Currency has already confirmed that national banks may provide crypto-asset custody services, buy and sell them on behalf of clients, and engage third-party sub-custodians.
The next step could be broader harmonization of regulations by the Federal Reserve System, the Federal Deposit Insurance Corporation, and state banking regulators.
The issuance of new banking licenses to companies working with digital assets, the launch of cryptocurrency custody services by major banks, and the provision of access to trading through traditional banking apps would send a positive signal to the market.
Such decisions could reduce operational risks for institutional investors and create additional channels for capital inflows into cryptocurrency funds.
Further support for the market could come from the convergence of digital asset regulations between the U.S., the U.K., and the European Union.
On July 14, 2026, the U.S. Department of the Treasury and the UK Treasury presented recommendations on the development of cross-border transactions involving digital assets. The parties separately supported the expansion of international circulation of private stablecoins and the reduction of regulatory barriers between the two financial markets.
A positive development could be the mutual recognition of licenses or reserve requirements for stablecoins, which would facilitate the use of digital dollars and pounds in international settlements.
In the European Union, the MiCA regulation has already established a unified licensing system for cryptocurrency companies. Granting licenses to large international banks and exchanges could boost confidence among institutional clients and accelerate the development of a legal market for digital assets.
However, the most important regulatory factor for the market in the coming months remains the fate of the CLARITY Act. Its passage could reduce the likelihood of legal disputes with regulators and open the U.S. market to a greater number of institutional products.
However, a positive outcome is not guaranteed. Excessively strict requirements for DeFi, stablecoins, or software developers could limit the growth of certain market segments.
Furthermore, even favorable legislation cannot eliminate the impact of interest rates, geopolitics, liquidity, and investor activity. Bitwise notes that in the second quarter of 2026, the index of the largest crypto assets fell by 15.4%, and U.S. spot Bitcoin ETFs recorded a record quarterly outflow of funds.
At the time of writing, Bitcoin was trading at around $63,400, and Ethereum at around $1,625. Thus, the most positive scenario for the crypto market would be the simultaneous passage of the CLARITY Act, the finalization of regulations for stablecoins, and the expansion of banks’ access to digital assets. These decisions have the potential to reduce regulatory uncertainty, but their impact will depend on the final wording of the regulations and the state of global financial markets.
According to Fixygen, the global cryptocurrency market is nearing the end of the week without a clear direction: Bitcoin held steady at around $64,500, while Ethereum fell significantly, and inflows into U.S. cryptocurrency ETFs remained volatile.
As of Friday, Bitcoin was trading at approximately $64,400. On Monday, July 20, the leading cryptocurrency opened the week at around $64,680. Thus, the weekly decline was less than 0.5%, indicating consolidation following the market’s massive drop in previous months.
Ethereum showed significantly weaker performance over the same period. At the start of the week, its price was around $1,870, while by Friday it had fallen to approximately $1,620. The weekly decline reached 13%.
The total market capitalization of the cryptocurrency market was estimated at approximately $2.2 trillion. Bitcoin accounted for about 59% of the total market value, reflecting sustained investor demand for the largest and most liquid digital asset amid uncertainty.
U.S. spot Bitcoin ETFs saw about $274 million in net inflows over four trading days from July 20 to 23. On Monday, inflows totaled $226.8 million; on Tuesday, $203.2 million; and on Wednesday, $69.1 million.
However, on Thursday, investors withdrew $225.1 million from Bitcoin ETFs. The bulk of the outflow—$202.5 million—came from BlackRock’s IBIT fund. This virtually wiped out a significant portion of the positive results from the beginning of the week. Data for Friday had not yet been published at the time of writing.
Spot Ethereum ETFs attracted approximately $174.5 million from Monday through Thursday. Net inflows were recorded daily, including $72.7 million on Wednesday and $26.3 million on Thursday. However, these inflows were unable to prevent a decline in the price of Ethereum, indicating that pressure on this asset persists across the broader market.
Earlier, U.S. Bitcoin ETFs broke an eight-week streak of outflows, during which investors withdrew more than $8 billion from the funds. The return to inflows was a positive sign, but the volume remains insufficient to indicate a sustained recovery in institutional demand.
A report published this week by CoinGecko showed that the cryptocurrency market capitalization in the second quarter of 2026 fell by 12.6%—from $2.4 trillion to $2.1 trillion.
The market capitalization of stablecoins decreased by 1.6% to $305.1 billion. This marked the first quarterly decline in this metric since the third quarter of 2023 and may indicate a partial withdrawal of liquidity from the cryptocurrency system.
Spot trading volume on the ten largest centralized crypto exchanges fell by 27.9% in the second quarter—to $1.95 trillion. In May, the figure dropped to $619 billion—the lowest monthly level since the start of the year—before rebounding to $695 billion in June.
Trading volume in perpetual futures on the largest centralized exchanges decreased by 10%—from $14.1 trillion to $12.7 trillion. The more moderate contraction of the derivatives market compared to the spot segment indicates that traders remain primarily interested in short-term and speculative trades.
One of the week’s major regulatory developments was the publication on July 22 of an updated version of the U.S. CLARITY Act. The bill aims to establish comprehensive rules for the digital asset market and allocate authority between the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission.
In May, the Senate Banking Committee approved the bill by a vote of 15 to 9. However, the updated version sparked new disagreements, particularly regarding investor protection, combating illicit financing, and limiting conflicts of interest among government officials.
Thus, the week did not provide the market with a clear signal. Bitcoin showed relative stability, but Ethereum’s decline, the sharp reversal of flows into Bitcoin ETFs on Thursday, and weak quarterly figures for exchange activity indicate that market participants remain cautious.
The final results of the week will depend on Friday’s flows into U.S. ETFs, the situation in global risk markets, and further progress on cryptocurrency legislation in the U.S.
According to Fixygen, the cryptocurrency market is ending the week of July 13–17 at a level close to where it started: Bitcoin is trading at around $63,000, while the total market capitalization of digital assets stands at approximately $2.2 trillion.
As of Friday, Bitcoin was trading at around $63,020, down approximately 1.7% over the past 24 hours. The leading cryptocurrency’s share of the total market capitalization is estimated at 56–58%. Ethereum, Solana, and most other major digital assets were also under pressure. SOL was trading at around $78, and XRP at around $1.06.
On Monday, Bitcoin fell below $62,000 amid a new escalation of the conflict between the U.S. and Iran, rising oil prices, and an exodus of investors from risky assets. After the release of U.S. inflation data, which came in weaker than expected, the cryptocurrency rebounded and rose above $65,500 on July 15, but was unable to sustain the gains.
By the end of the week, pressure on the crypto market intensified due to a sell-off in tech and semiconductor stocks, rising oil prices, and new geopolitical risks in the Middle East. On Friday, Bitcoin lost about 2% over the course of the day and returned to the $63,000 level.
Capital flows in U.S. spot Bitcoin ETFs remained volatile. On Monday, the funds recorded a net outflow of $424.7 million, followed by inflows of $181.1 million on Tuesday, $107.7 million on Wednesday, and $79.1 million on Thursday. As a result, the cumulative outflow over the four trading days totaled approximately $56.8 million. Data for Friday had not yet been published at the time of writing.
An additional source of uncertainty was the debate in the U.S. over the Clarity Act, a bill intended to establish regulations for the cryptocurrency market and delineate the powers of financial regulators. Progress on the bill has slowed due to disagreements in the Senate and concerns about a potential conflict of interest related to President Donald Trump’s cryptocurrency holdings.
In the corporate sector, the week’s main event was Citadel Securities’ investment in the cryptocurrency exchange Crypto.com. The market maker invested $400 million, valuing the platform at $20 billion. This is Crypto.com’s first round of institutional funding. The funds raised are planned to be directed toward the development of operations involving tokenized securities and derivatives.
At the same time, pressure remains on public companies that have built up large Bitcoin reserves. Strategy has already sold approximately $218 million worth of digital assets in 2026 to fund dividends and maintain its dollar reserves. The decline in cryptocurrency prices has led to the shares of a number of similar companies trading below the value of the digital assets they hold.
Thus, softer U.S. inflation data and the resumption of capital inflows into ETFs have failed to ensure a sustained market recovery. Next week’s market dynamics will depend on developments in the Middle East, oil prices, capital flows into cryptocurrency funds, and further progress on U.S. legislation regarding digital assets.
According to Fixygen, the American company Strategy Inc. sold $216 million worth of Bitcoin, marking the company’s largest cryptocurrency sale since it began building its Bitcoin portfolio in 2020.
This is an important psychological signal for the crypto market. Strategy has long been viewed as one of Bitcoin’s leading corporate supporters and a role model for companies considering BTC as a reserve asset. Therefore, even a partial sale could heighten investors’ doubts about the sustainability of corporate demand for cryptocurrency.
According to the company, this is only its third Bitcoin sale since 2020. However, the scale of the transaction significantly exceeds previous ones, and the timing was chosen amid a weak market: on Monday, Bitcoin fell by 1.9% to $61,532, and has lost 30% of its value since the start of the year.
An additional negative factor was Strategy’s $8.32 billion loss on digital assets for April–June. This illustrates just how sensitive the company’s business model has become to Bitcoin’s revaluation and the crypto market’s decline.
Strategy’s stock fell 4.5% in pre-market trading on Monday. Since the beginning of the year, the company’s market capitalization has shrunk by nearly 34%—to $35.3 billion—while the Nasdaq Composite Index rose by more than 11% over the same period. This means that investors no longer view Strategy as a typical technology company, but rather as a high-risk proxy for Bitcoin.
For the crypto world, the main issue is not the amount of the sale itself, but the shift in perception. If a company that has spent years building an image as the largest corporate holder of BTC begins to sell the asset in significant volumes, the market may see this as a signal: even long-term institutional holders are forced to lock in liquidity or reduce risk.
In the short term, this could intensify pressure on Bitcoin and related stocks, especially if investors begin to anticipate further sales. More broadly, the Strategy case shows that corporate Bitcoin holdings remain not only an investment story but also a source of volatility for balance sheets, financial reporting, and the stock market.
The crypto market will now be watching not only the Bitcoin price and ETF flows but also whether Strategy continues its sales. If these turn out to be a one-time transaction, the impact may be limited. However, if the company begins to systematically reduce its position, it will be one of the most significant bearish signals for the market since 2020.
According to Fixygen, the cryptocurrency market ended the week with a partial recovery after Bitcoin fell below the psychological threshold of $60,000, however, the main topics for the industry remained outflows from ETFs, major banks revising their forecasts, intensifying regulatory competition surrounding stablecoins, and miners shifting to the AI data center sector.
At the time of writing, Bitcoin was trading around $62,440, while Ethereum was trading around $1,625. Earlier in the week, BTC fell below $60,000 amid weak demand from institutional investors, outflows from exchange-traded funds, and persistent geopolitical risks.
Data on U.S. spot Bitcoin ETFs served as a key negative signal. According to CoinDesk, citing SoSoValue, the funds recorded $4.5 billion in net outflows in June—the worst month since the launch of such products in January 2024. The previous record low was $3.48 billion in February 2025.
Against this backdrop, Citigroup lowered its 12-month price forecast for Bitcoin from $112,000 to $82,000, and for Ether from $3,175,000 to $2,240,000. The bank attributed the revision to waning investor interest, outflows from ETFs, and a lack of rapid progress in U.S. crypto regulation. Citi also lowered its expectations for net inflows into Bitcoin ETFs from $10 billion to zero.
The week’s regulatory agenda focused primarily on stablecoins. In the UK, the FCA eased its final requirements for stablecoin issuers, lowering the proposed capital reserve from 2% to 1% of the issuance volume. The final rules are set to bring the crypto-asset sector fully under FCA supervision starting in October 2027.
This is an important signal for the global market: jurisdictions are beginning to compete not only for crypto exchanges but also for tokenized payment infrastructure. Following increased U.S. scrutiny of dollar-pegged stablecoins, the UK is attempting to make its own regulations more proportionate so as not to lose companies working with payment tokens.
Another trend of the week is the continued expansion of Bitcoin miners into the AI and data center sectors. Reuters reported that the Hunt and Crow families—both American billionaire families—along with Nasdaq-listed company Empery Digital, have signed an agreement for a $230 million industrial facility with a capacity of 150 MW and plan to convert it into a hyperscale data center. The parties also signed a non-binding letter of intent for a $1 billion lease with a cloud computing company.
Another telling example is Ionic Digital, a company that positions itself as both a Bitcoin miner and an AI infrastructure company, which has filed for a direct listing on Nasdaq. This confirms structural changes in the sector: for some miners, the key asset is no longer so much hash rate as access to electricity, land, substations, and permits for data centers.
For miners, this diversification has been a response to the deteriorating economics of Bitcoin mining following the halving, high network difficulty, and falling BTC prices. Reuters previously noted that crypto miners are increasingly using large energy facilities for artificial intelligence (AI) computing, as mining profitability remains volatile and demand for AI data centers is growing rapidly.
The week also demonstrated a shift in investor sentiment. Following a strong first half of the year for AI-related stocks, part of the market began looking for opportunities to rotate back into Bitcoin after a deep correction. CoinDesk noted that a loss of momentum in the segment of stocks for companies involved in memory and semiconductor manufacturing could raise the question of returning some capital to BTC; however, traders are not yet showing full confidence in the sustainability of the rebound.
From a practical standpoint, the market situation looks like this: Bitcoin has recovered above $60,000 but has not received sufficiently strong institutional validation via ETFs. Ethereum remains under pressure from weaker network activity and lower forecasts, while stablecoins and AI data centers are becoming the most dynamic segments of the crypto infrastructure.
In the coming weeks, key factors for the market will remain the dynamics of inflows and outflows in spot ETFs, macroeconomic expectations regarding U.S. interest rates, regulatory signals regarding stablecoins, and Bitcoin’s ability to consolidate above $60,000. If outflows from ETFs continue, the market may revert to a defensive scenario. If, on the other hand, institutional demand stabilizes, July could be a month of technical recovery following a weak June.
