Last Updated: July 2, 2026
Bitcoin has pushed decisively above $62,000, trading at $61,924.81 and touching an intraday high of $62,053.00 — extending a sharp two-day rally that began after Federal Reserve Chair Kevin Warsh eased inflation concerns earlier this week. The move caps a dramatic turnaround from June 30, when BTC bottomed near $57,800 during the worst monthly stretch of the current correction cycle. Beyond the price action, the CLARITY Act’s path through the Senate remains the story to watch heading into July, alongside continued momentum in Solana’s ecosystem and ongoing questions about whether June’s record spot ETF outflows will reverse.
Today’s Top Stories
Bitcoin Breaks Above $62,000, Extending Sharp Two-Day Rally
Bitcoin is trading at $61,924.81, up 5.18% over 24 hours after touching a fresh high of $62,053.00 earlier today. The rally builds directly on Wednesday’s reversal above $60,000, which followed comments from Fed Chair Warsh reiterating the central bank’s commitment to its 2% inflation target. BTC has now recovered more than $4,000 from Tuesday’s low near $57,800, marking one of the sharpest multi-day reversals of the current cycle. For the full technical breakdown, see our Bitcoin News Today page.
CLARITY Act Faces Tightening Timeline Ahead of Senate Return
The White House had targeted July 4 as a symbolic deadline for signing the CLARITY Act into law, but that window has effectively closed — the Senate adjourned June 25 and won’t return until July 13, leaving less than four weeks of floor time before the August recess. Senator Cynthia Lummis confirmed the bill will reach the Senate floor in July, with compromise text expected around July 4 for public review. The bill still needs 60 votes to overcome a filibuster, requiring at least seven Democratic crossovers. Polymarket has trimmed 2026 passage odds to 48%, with Galaxy Research putting the odds at roughly a coin flip.
Solana Continues to Lead the Market Recovery
Solana remains one of the standout performers of the current rally, boosted by rising tokenized stock trading activity and the launch of World, a new on-chain prediction market built on the network. Solana co-founder Anatoly Yakovenko also confirmed at Consensus Miami that the network’s Alpenglow consensus upgrade could ship as early as Q3 2026, aiming to cut transaction finality from roughly 12.8 seconds to 150 milliseconds. For the latest SOL price action, see our Solana Price page.
XRP Network Activity Surges Even as Price Lags
XRP’s active addresses jumped 72% over the past two weeks even as price action remained subdued heading into this week’s rally, according to on-chain data. Leverage across the network has also been flushed to its lowest level since July 2025, suggesting a cleaner technical setup beneath the surface. Ripple has also proposed a new tokenized-asset lending standard as the network continues expanding its institutional use cases. (Source: blockchainreporter.net)
Ethereum Foundation Undergoes Major Leadership Transition
Ethereum’s support ecosystem is undergoing its biggest leadership transition in years, following the launch of EthLabs and ongoing efforts by the Ethereum Foundation to address community criticism over transparency and its role within the broader ecosystem. Ethereum Institutional also launched this week, drawing support from across the Ethereum community. For the full technical breakdown, see our Ethereum News Today page.
Spot Bitcoin ETFs Posted Worst Month Ever in June
US spot Bitcoin ETFs recorded their largest-ever monthly outflow in June, shedding roughly $4.5 billion over nine consecutive days of redemptions — surpassing the previous worst month by 29%. BlackRock’s IBIT alone shed $239.3 million in a single day, with Fidelity’s FBTC losing $120.8 million on the same session. Whether this week’s sharp price recovery is enough to reverse that outflow trend in July remains an open question.
Citi Cuts Bitcoin and Ether Price Targets on Stalled ETF Flows
Citi slashed its 12-month price targets for both Bitcoin and Ether last week, citing stalled US crypto legislation and weakening investor demand after scrapping its prior ETF inflow forecasts. The revision reflects growing caution among traditional finance analysts following June’s steep correction, though this week’s sharp rebound may prompt a reassessment.
Market Snapshot
For full price data, support/resistance levels, and technical analysis, see Crypto Market Today.
What to Watch This Week
- Senate CLARITY Act floor debate — compromise text expected around July 4, floor vote likely in July before the August recess
- July 29 FOMC meeting — Fed Chair Warsh’s second meeting at the helm, following a PCE print that some analysts say supports a case for further rate hikes later in 2026
- Solana’s Alpenglow upgrade — targeted for Q3 2026, aiming to dramatically cut transaction finality times
- July ETF flow data — whether June’s record outflows reverse following this week’s sharp price recovery
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This page is updated regularly with the latest crypto news and market developments. Nothing on this page constitutes financial advice. Always conduct independent research before making investment decisions.
FAQ
Why did Bitcoin break above $62,000?
Bitcoin extended its sharp rally from Tuesday’s low near $57,800, building on Wednesday’s reversal above $60,000 that followed Fed Chair Kevin Warsh’s comments easing inflation concerns. BTC touched an intraday high of $62,053 today.
What is the status of the CLARITY Act?
The CLARITY Act is expected to reach the Senate floor in July, with compromise text anticipated around July 4. The bill needs 60 votes to overcome a filibuster and requires at least seven Democratic crossovers. Current passage odds sit at roughly 48-50% according to prediction markets and analysts.
Is XRP network activity increasing despite price weakness?
Yes. XRP’s active addresses rose 72% over the past two weeks even as its price lagged, with on-chain leverage flushed to its lowest level since July 2025 — suggesting improving fundamentals beneath the surface.
Why is Solana outperforming other cryptocurrencies?
Solana has benefited from rising tokenized stock trading activity, the launch of a new on-chain prediction market called World, and anticipation around its upcoming Alpenglow upgrade, which aims to significantly speed up transaction finality.
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