According to Fixygen, the cryptocurrency market ended last week mostly on an uptrend: Bitcoin rebounded from its early August decline and once again tested the $65,000 mark, while Ethereum and most of the major altcoins also gained ground. The exception among the leading cryptocurrencies was XRP, which lost about 5% over the week.
As of the morning of August 10, Bitcoin was trading at around $65,200 and had risen by approximately 3.7% over the past seven days, according to CoinDesk data. On Monday, the price fell back below $65,000—to around $64,500–$64,700. As of August 7, BTC was up 3.1% for the week, heading toward its first weekly gain in three weeks.
Ethereum was trading around $1,900 at the start of the new week and also ended the week with gains. BNB and Solana were in positive territory, while XRP lagged behind the broader market recovery and lost about 5%.
One of the main supporting factors was the return of institutional demand. U.S. spot Bitcoin ETFs saw $853.54 million in net inflows last week, marking the strongest weekly result since mid-April. A significant portion of the funds went to BlackRock’s IBIT fund.
The combined net inflow into U.S. spot Bitcoin and Ethereum ETFs for the week is estimated at approximately $1.1 billion. Back in early August, the situation was the opposite: Bitcoin ETFs had ended the previous week with a small net outflow, so the return of major buyers became one of the key shifts in the market landscape.
U.S. macroeconomic data provided additional support for cryptocurrencies. Weak U.S. labor market data eased concerns about a possible further increase in the Fed’s interest rates and bolstered demand for risky assets. Following the release of the data, Bitcoin rose to $65,000, while U.S. stock indices finished the week on a strong note.
However, it is still too early to speak of a full-fledged return to a sustained bullish trend. Bitcoin remains near the $62,000–$65,000 range, where it has spent much of the past few weeks. Analysts note that a sustained market recovery would require a break above the $65,000 level.
Another sign of caution is the extremely low realized volatility. Last Saturday, BTC’s trading range was only about $350—the narrowest Saturday range since November 2023. At the same time, the options market continues to see elevated demand for downside protection around the $62,000–$63,000 range, indicating ongoing concerns among market participants.
News of the sale of bitcoins by Strategy, the largest corporate holder, also acted as a restraining factor. The company reported on August 10 that it had sold 1,690 BTC for approximately $108.6 million the previous week, using the proceeds, in part, to repurchase preferred shares. Its holdings have decreased to 840,447 BTC.
Regulatory factors, on the other hand, are likely to take a back seat by the end of August. The U.S. Senate failed to pass the CLARITY Act before Congress’s August recess began. Lawmakers are not expected to resume consideration of comprehensive regulations for the digital asset market until at least mid-September.
What Will Drive the Market Through the End of August
The first major test will be U.S. inflation data. The U.S. Consumer Price Index for July is scheduled for release on August 12, the Producer Price Index on August 13, and retail sales data on August 14. Following weak employment data, inflation figures could shape expectations regarding the Fed’s future policy and, consequently, the direction of Bitcoin and other risky assets.
The next key date will be August 19, when the Federal Reserve releases the minutes of the July 28–29 FOMC meeting. Investors will be looking for additional signals in the minutes regarding the extent to which the central bank is concerned about the combination of rising inflation and a softening labor market.
The last week of August will be even more eventful. On August 26, the U.S. will simultaneously release the second estimate of second-quarter GDP and July statistics on personal income and spending, including the PCE price index—one of the Fed’s key inflation benchmarks.
From August 27 to 29, the Kansas City Federal Reserve Bank will hold its annual symposium in Jackson Hole. In 2026, the symposium’s theme is directly related to financial markets: “Financial Innovation: Implications for Payments and Policy.” Therefore, statements by central bank leaders may be of particular significance for the cryptocurrency sector as well.
Two main scenarios can be identified for the market through the end of August. Assuming continued capital inflows into ETFs, more moderate inflation in the U.S., and sustained expectations of a neutral or more dovish Fed policy, Bitcoin will have the opportunity to consolidate above $65,000 and attempt to return to July’s levels above $66,000. This is a conclusion based on the current market structure, not a guaranteed price forecast.
The negative scenario is primarily linked to an unexpected acceleration of inflation in the U.S., rising bond yields, and a renewed escalation of geopolitical risks surrounding the Middle East and the Strait of Hormuz. In that case, market attention will shift back to the $62,000–$63,000 range, where options traders are currently actively hedging against a decline.
Thus, the crypto market is entering the second half of August in a stronger position than at the beginning of the month: institutional inflows have resumed, Bitcoin has recouped a significant portion of its recent losses, and most of the largest altcoins have turned bullish. However, low volatility and the concentration of several key macroeconomic events in the second half of the month set the stage for a noticeable increase in price fluctuations by the end of August.
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 The Serbian Economist, people in British politician Nigel Farage’s inner circle have developed significant business and political interests in Montenegro in recent years, a country that Prime Minister Milojko Spajić wants to promote as a hub for the crypto industry, the Financial Times reports.
According to the publication, several individuals linked to Farage and the Reform UK party have shown interest in Montenegro. Among them are crypto investor Christopher Harborn, former Reform UK treasurer Mehrtash Azami, Farage’s former communications director Hayward Taylor, and longtime adviser George Cottrell. The publication attributes their interest in the country to its low costs, favorable climate, supportive stance toward the crypto sector, and the political opportunities offered by this small Balkan economy.
Harborne, who had previously transferred 5 million pounds to Farage, registered the company Longevity Biotech Systems in Tivat in 2023, while Azami and Tauler also established business entities in that city. According to the publication, Cotrall has long been active in Montenegro through the consulting firm Geostrategy; his lawyers have denied allegations related to his alleged support of political campaigns in the country.
Montenegro has become particularly attractive to such players amid Prime Minister Milojko Spajić’s push to develop the crypto industry. Spajić has promoted the idea that cryptocurrency mining and trading could become a significant part of the country’s economy.
Interest in Montenegro is also growing due to its European prospects. The country applied for EU membership in 2008, received candidate status in 2010, and accession negotiations began in 2012. According to the Council of the EU, Montenegro has opened all 33 negotiation chapters and, as of mid-June 2026, has provisionally closed 16 of them, remaining the most advanced candidate for EU accession.
Nigel Farage is one of the most prominent British Euroskeptic politicians, the former leader of UKIP, and the current leader of Reform UK. For many years, he was one of the leading public advocates of Brexit. According to the official website of the British Parliament, Farage served as the Member of Parliament for the Clacton constituency from July 4, 2024, and left the House of Commons on July 8, 2026.
https://telegram.me/relocationrs/3226
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.
