The cryptocurrency market staged a broad recovery on July 21, 2026, with Bitcoin (BTC) climbing above $66,000 for the first time in more than a month. The total crypto market capitalization rose over 2% to $2.25 trillion, as a trifecta of catalysts—sustained spot Bitcoin ETF inflows, progress on the U.S. CLARITY Act, and improving technicals—restored trader confidence.
Bitcoin traded near $65,480 early in the day before surging to $66,000, a 3% daily gain that extended its weekly advance to roughly 13%. Ethereum (ETH) outperformed, adding 4% to reach around $1,924 (up 8% for the week), while XRP jumped over 5% to $1.11 and Solana (SOL) gained more than 3% to $78.04. Hyperliquid’s HYPE token also rose 3.2% to $62.47. The Fear & Greed Index ticked up to 37, still in “fear” but improving, and the Altcoin Season Index held at 53.
Institutional demand remained a key pillar. U.S. spot Bitcoin ETFs recorded a fifth consecutive day of net inflows, pulling in 1,985 BTC in the latest session and totaling approximately $725 million over that stretch. Ethereum ETFs also attracted 9,765 ETH in net inflows, signaling broadening institutional appetite. Bitcoin’s market dominance hit 58.87%, confirming it still leads the charge before capital rotated into altcoins like ONDO, which surged 17.3%.
Regulatory optimism provided the strongest boost. President Trump agreed to an ethics package linked to the CLARITY Act, clearing a major hurdle for the market-structure bill. Polymarket odds for passage jumped to 43%, and several lawmakers suggested the legislation could move through Congress as early as next week. If enacted, analysts estimate it could inject over $1 trillion into the crypto market.
Outside the U.S., Russia’s parliament approved the Digital Currency and Digital Rights Law, setting rules for exchanges, brokers, and custodians ahead of a September 1 implementation. In Europe, traders eyed Thursday’s European Central Bank interest rate decision for further liquidity clues. Corporate adoption remained robust: BitMine held 5.77 million ETH (4.8% of Ethereum’s circulating supply) and repurchased 5.5 million shares, while Metaplanet raised ¥9.66 billion to expand its Bitcoin treasury.
Analysts now watch whether BTC can hold above $65,000. If ETF inflows persist and the CLARITY Act moves forward, the next resistance zone lies at $67,000–$68,000, potentially extending the recovery through the week.
