- Bitcoin recovered from a sharp drop below $59,000 and reclaimed the $62,000 level as ETF inflows returned.
- Ethereum, Solana, XRP, Dogecoin, Cardano, and several major altcoins posted strong weekly gains.
- Despite the rebound, analysts say Bitcoin still needs to reclaim key resistance near $70,000 before confirming a broader trend reversal.
The first week of July finally delivered something crypto investors had been waiting for, a bit of relief.
After weeks of relentless selling pressure and fading confidence, the market managed to bounce back. It wasn’t a perfect recovery by any means, and sentiment is still fairly cautious, but the past several days gave traders a reason to breathe again.
Just a week ago, Bitcoin was stuck around the $60,000 mark after enduring a painful correction throughout June. The weekend that followed was uneventful, with BTC moving sideways as buyers and sellers fought for control without either side gaining much ground.
Things changed once the new business week got underway.
Bitcoin initially attempted to push higher but quickly ran into resistance near $60,700. That rejection gave bears another opportunity to take over, sending prices lower once again. Selling pressure accelerated on Tuesday as broader financial markets also weakened. Major U.S. indices, including the S&P 500 and Nasdaq, slipped alongside large technology stocks, dragging crypto down with them.
Bitcoin briefly fell below $59,000 and even dipped toward the $58,000 level on several exchanges, marking its lowest point of the week.
Fortunately for bulls, that support held.
Buyers stepped back in almost immediately. Bitcoin rebounded sharply, reclaimed the psychologically important $60,000 level, and continued climbing toward $62,000 as demand strengthened. A key catalyst came from spot Bitcoin ETFs, which finally recorded fresh inflows after enduring a lengthy streak of outflows.
The renewed confidence wasn’t limited to Bitcoin.
Ethereum staged an impressive recovery of its own, climbing back toward $1,700. Solana emerged as one of the week’s strongest performers with double-digit gains, while XRP, Dogecoin, Cardano, Stellar, and Hyperliquid also posted healthy advances. Together, those moves helped the total cryptocurrency market recover a meaningful portion of June’s losses.
Major Headlines Kept Investors Busy
Price action wasn’t the only thing driving attention across the crypto industry.
President Donald Trump’s latest financial disclosure revealed that he personally holds more than $50 million worth of Bitcoin, reigniting discussions around politicians and digital assets.
Elsewhere, FBI Director Kash Patel amended a financial disclosure connected to Strategy stock holdings, while digital asset platform Securitize celebrated its debut on the New York Stock Exchange. The company also launched tokenized shares on both the Solana and Avalanche blockchains, another sign that tokenized real-world assets continue gaining momentum.
A Recovery… But Not a Full Reversal Yet
The past week certainly looked better than the one before it.
The relentless selling finally slowed, buyers returned, and confidence improved across much of the crypto market. Still, calling this the beginning of a new bull run may be premature.
Bitcoin remains well below the major resistance zone around $70,000. Until BTC can break above that area convincingly, there’s still a possibility that this latest move proves to be nothing more than a temporary relief rally rather than the start of a sustained uptrend.
For now, bulls have stopped the bleeding. The next challenge is proving they can keep the momentum going.
