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Bitcoin moved through the period from July 1 to July 7 in an environment that remained volatile, but was clearly more encouraging than the one observed at the end of June. After briefly slipping below the psychological threshold of $60,000, BTC quickly demonstrated a strong ability to recover, returning to the $63,000 to $64,000 range by the end of the period. This rebound does not yet confirm a fully established recovery, but it represents an important positive signal: buyers remain present, and the market appears to have absorbed a significant portion of the recent selling pressure.
The beginning of the week started on a cautious note. Bitcoin was still trading near $58,000 to $59,000, in line with the weakness observed at the end of June. Investors were still monitoring flows into spot Bitcoin ETFs, Ethereum’s more fragile performance, developments in the U.S. regulatory framework and news surrounding certain crypto treasury companies. Overall sentiment therefore remained defensive, but unlike some deeper corrections in previous cycles, the decline did not trigger a lasting panic-driven move.
Citi’s downward revision of its forecasts for bitcoin and Ethereum added a note of caution at the beginning of the period. The bank notably cited weak ETF flows, a lack of immediate catalysts and the slow pace of regulatory progress. That said, this type of adjustment often comes after an already significant period of decline. It can therefore also be interpreted as a reflection of pessimism that is already largely priced in. In that context, bitcoin’s ability to rebound despite this less favorable news is rather constructive.
The market quickly found support near the recent lows. The $58,000 to $60,000 area once again attracted buyers, suggesting that several investors still view these levels as attractive from a medium- or long-term perspective. The return above $60,000 is particularly important. This threshold represented a technical level, a psychological marker and a test of market confidence. The fact that BTC was able to reclaim it within a few sessions indicates that the late-June break did not lead to a complete loss of control by buyers.
The move back toward $63,000 to $64,000 was also supported by a gradual improvement in flows into spot Bitcoin ETFs. After several sessions of outflows, some products recorded renewed net inflows, ending a negative streak that had weighed heavily on the market. This improvement still needs to be confirmed, but it is nevertheless an encouraging signal. ETFs amplified the decline when capital was leaving; they could now once again become a stabilizing factor if institutional investors gradually begin allocating capital back to the sector.
This dynamic is a reminder of the central role ETFs now play in bitcoin’s cycle. Institutional flows are more visible than before and can create rapid movements in both directions. When financial advisors, asset managers and professional investors reduce their exposure, the pressure becomes immediately observable. But the opposite is also true. When prices become more attractive or sentiment improves, these same vehicles can bring significant demand back into the market. The institutional infrastructure therefore remains firmly in place, and it could again become a positive driver if conditions continue to improve.
The week’s rebound must nevertheless be interpreted with some caution. Bitcoin remains below its previous highs, and the current area does not yet represent a return to a strongly bullish trend. The market is instead in a reconstruction phase. But that reconstruction now appears more solid than it did at the end of June. After a significant correction, it is normal to see several stabilization attempts, technical rebounds and then periods of consolidation before a clearer new trend develops. BTC’s behavior above $60,000 will therefore be crucial over the coming days.
From a technical standpoint, the $60,000 area is once again the first support level to watch. As long as bitcoin can remain above this threshold, the short-term structure remains constructive. A consolidation between $60,000 and $64,000 could even be healthy if it allows the market to absorb remaining selling, reduce excess leverage and rebuild confidence. The next important level is around $65,000 to $66,000. A sustained move above that area would send a more convincing signal that buyers are regaining the initiative.
Conversely, another loss of the $60,000 level would naturally bring caution back. The $58,000 area would then remain the support to watch, as it served as a stabilization point during the latest decline. That said, the reaction observed this week makes that scenario somewhat less concerning than it was just a few days earlier. The market demonstrated that it could absorb a temporary break below an important level without falling into a disorderly liquidation. This is a sign of resilience worth highlighting.
Ethereum had a more nuanced week. ETH also benefited from the broader market rebound, but it remains weaker than bitcoin on a relative basis. After trading around $1,550 to $1,700 at the beginning of the period, Ethereum attempted to stabilize, without yet sending a clear leadership signal. This underperformance reflects a reality that has persisted for several months: when the market goes through a period of stress, capital generally returns first to bitcoin, the most liquid and most institutionalized asset in the sector.
Ethereum’s relative weakness does not mean its fundamental thesis is being called into question. The network remains central to several major developments related to decentralized finance, smart contracts, tokenization and real-world assets represented on blockchain. The market is simply asking for more evidence of concrete usage, sustainable revenues and transactional demand. This requirement can be healthy. It pushes the ecosystem to move from a primarily speculative narrative toward more measurable and durable adoption.
Tokenization remains one of the most important themes for Ethereum and for the industry as a whole. Banks, asset managers and financial platforms continue to explore the representation of bonds, funds, bank deposits and other financial instruments on blockchain infrastructures. These developments are less visible than bitcoin’s daily price movements, but they could have a much deeper influence over the long term. They indicate that the industry no longer depends solely on price speculation, but also on the gradual integration of the technology into traditional financial markets.
Stablecoins also occupied an important place in recent news. The announcement of an initiative involving major players such as Visa, Mastercard and Coinbase around a global stablecoin illustrates how strategic this sector has become. Stablecoins are now one of the most concrete use cases for digital assets. They allow fast transfers, permanent liquidity and more efficient movement of capital between platforms, companies and users. Their continued growth shows that certain parts of the ecosystem are progressing even when the prices of major cryptocurrencies are going through a more difficult period.
This development is particularly positive for the industry because it shows that major financial and technology companies are no longer merely observing the crypto sector from the outside. They are now seeking to participate in building its infrastructure. In the short term, this does not guarantee an immediate rise in bitcoin or Ethereum. But over the medium and long term, it reinforces the idea that digital assets and blockchain networks are gradually becoming a normal component of the global financial architecture.
Regulation nevertheless remains a factor of caution. In the United States, investors are still waiting for greater clarity on the crypto market structure, the classification of digital assets and the role of the various supervisory agencies. The lack of rapid progress can slow certain institutional capital, especially in an environment where traditional markets still offer attractive yields with apparently less volatility. Even so, the regulatory debate has evolved significantly. It is no longer about determining whether the industry should exist, but rather how it should be regulated. This change in tone remains fundamentally positive.
A clearer regulatory framework could eventually reduce uncertainty, support the arrival of new products and allow more institutions to participate in the market. Rules can sometimes appear restrictive in the short term, but they can also become a factor of credibility. Professional investors need safeguards, clear responsibilities and robust operational structures. The more these elements are put in place, the more the industry can attract patient capital that is less dependent on speculative euphoria.
The week was also marked by news surrounding Strategy. The company sold several thousand bitcoins as part of its monetization program, a decision that naturally attracted a great deal of attention. Strategy remains the largest corporate holder of bitcoin, and any change in its behavior is closely watched by the market. The fact that it sold part of its reserves represents a change in tone compared with the historical image of continuous accumulation associated with the company.
It is important, however, to maintain a balanced perspective. Strategy still holds a massive amount of bitcoin and remains deeply exposed to the asset. The recent sales do not necessarily mean that the company is abandoning its long-term thesis. Rather, they show that crypto treasury companies must deal with the same financial realities as other businesses: cost of capital, obligations to shareholders, dividends, debt, liquidity and balance sheet management. This reality may be less spectacular than the narrative of permanent accumulation, but it is probably more representative of a market that is gaining maturity.
In the short term, Strategy’s sales can weigh on sentiment, especially when they occur during a period in which bitcoin is trying to stabilize. Some investors fear that they could create additional pressure or serve as a negative signal. Over the medium term, however, this situation could also help make the market more disciplined. Investors are increasingly distinguishing bitcoin itself from companies that use complex financial structures to gain exposure to it. This distinction is healthy. It allows risks to be assessed more clearly and helps avoid confusing the quality of an asset with that of a particular corporate balance sheet.
Altcoins had a generally mixed performance, but bitcoin’s stabilization could eventually allow for a gradual improvement in the rest of the market. In cautious recovery phases, capital often returns first to bitcoin, then to Ethereum, before extending to more speculative assets. This rotation is normal. It shows that risk appetite is improving, but not yet strong enough to support the entire market uniformly. The strongest projects, those with significant liquidity, clear utility and active communities, should continue to hold up better than purely speculative assets.
The market therefore appears to have entered a selection phase, but also a reconstruction phase. After the correction of recent weeks, investors are becoming more selective. Assets that relied primarily on market enthusiasm are suffering more, while projects tied to infrastructure, payments, stablecoins, tokenization or institutional use cases retain greater credibility. This selectivity can make recoveries less spectacular in the short term, but it contributes to building a more robust and more durable market.
On the macroeconomic front, the same factors continue to dominate. Investors are watching U.S. inflation, employment data, the path of interest rates and comments from the Federal Reserve. An environment in which rates remain elevated for longer than expected remains more difficult for assets that do not generate current income, such as bitcoin. Conversely, any sign of a potential easing of monetary policy could quickly improve risk appetite. Bitcoin remains very sensitive to liquidity conditions, which explains why macroeconomic data continues to have such a strong influence on its price.
Despite this caution, several elements support measured optimism. First, bitcoin managed to reclaim $60,000 after a break that could have triggered a more significant panic. Second, ETF flows are showing signs of stabilization after a difficult sequence. In addition, developments related to stablecoins, tokenization and institutional integration continue to move forward. Finally, the recent correction likely removed part of the excess leverage and speculation that had made the market vulnerable. A less crowded market is often better positioned to build a healthier recovery.
The week of July 1 to July 7 was therefore not a week of euphoria, but it did mark an important improvement compared with the end of June. Bitcoin moved from a position of fragility below $60,000 to an attempt at reconstruction around $63,000 to $64,000. Ethereum remains under relative pressure, but its role in tokenization infrastructure remains relevant. ETFs have, at least temporarily, stopped being solely a source of pressure. Stablecoins continue to gain importance among major financial players. And even more difficult news, such as Strategy’s sales, can be interpreted as a stage in the market’s maturation rather than a challenge to the long-term thesis.
In summary, the crypto market is entering early July in a more balanced and more encouraging state. The risks have not disappeared. Institutional flows still need to be confirmed, Ethereum needs to demonstrate better relative strength, and bitcoin will need to reclaim the $65,000 to $66,000 area to further validate the recovery. But the reaction of the past few days is positive. It shows that the market remains capable of absorbing negative news, defending important zones and gradually rebuilding confidence.
The most constructive scenario from here would be a stabilization above $60,000, followed by a gradual return toward $65,000 to $66,000. A sustained breakout above that area could then reopen the door to a more ambitious recovery toward $70,000. Conversely, a drop back below $60,000 would require greater short-term caution. For now, however, the market appears to have avoided the worst and is beginning to show the first signs of a healthier reconstruction.
In this context, optimism should remain measured, but it is justified. Prices remain volatile, institutional investors are still selective and the macroeconomic environment remains demanding. However, infrastructure continues to develop, major financial companies are becoming more involved, stablecoins are gaining credibility and bitcoin retains its ability to attract demand during periods of weakness. The week therefore reminded us that digital assets do not move forward in a straight line, but it also showed that the market continues to advance, even after a difficult period.
The presented information is as of July 7th, 2026, unless otherwise indicated and is provided for information purposes only. The information comes from sources that we believe are reliable, but not guaranteed. This statement does not provide financial, legal or tax advice. Rivemont Investments are not responsible for any errors or omissions in the information or for any loss or damage suffered.
