The past week was a landmark for several key segments of the crypto industry. The first cryptocurrency showed a confident rebound from local lows, the transitional period for the MiCA regulation ended in Europe, and Russia finally outlined specific dates for launching full-fledged digital asset regulation. Let's break down the most important events.

Bitcoin Recovers After June Crash

The beginning of July was marked by a strong recovery for Bitcoin. After the worst month in four years, when the price dropped to a two-year low near $57,700, the first cryptocurrency sharply rebounded on July 1, surpassing the $60,000 mark. The key catalyst was statements by Fed Chairman Kevin Warsh about persistently high inflation in the US, which traditionally fuels interest in Bitcoin as a safe-haven asset.

The upward movement proved resilient even amid sell-offs in chipmaker stocks. By Saturday, July 4, the price reached a local high of $63,300 on Binance, before correcting to around $62,700. For the week, Bitcoin gained 4.6%. However, several altcoins in the top 10 showed even more impressive dynamics: Solana rose 12.7%, Ethereum gained 11.7%, and the Hyperliquid token increased by more than 10%.

Despite the positive price action, outflows from spot Bitcoin ETFs continued for the eighth consecutive week, totaling $526.6 million. However, on July 2, the products recorded a significant inflow of $221.7 million, which may signal a shift in sentiment among large investors. Ethereum-based funds also lost $13.7 million over the week. The Fear and Greed Index, while rising from 18 to 23 points, remains in the extreme fear zone, indicating persistent market uncertainty.

MiCA in Action: Europe Closes Doors for Unlicensed Platforms

On July 1, 2026, the transitional period for cryptocurrency platforms under the Markets in Crypto-Assets (MiCA) regulation expired in the European Union. Companies that failed to obtain a license are required to cease servicing European clients. According to the European Securities and Markets Authority (ESMA), by the end of the transitional period, 244 crypto service providers were authorized in the EU and EEA. Among the approved platforms with notable liquidity are Kraken, Coinbase, and Bitstamp.

Notably, the European Commission has already launched a review process for the regulation to assess its relevance in a rapidly changing market and international regulatory landscape. This suggests that even in Europe, it is understood that MiCA is not the final point, but merely a first step towards establishing global standards.

Russia: Crypto Regulation from September 1

First Deputy Chairman of the Central Bank of Russia, Vladimir Chistyukhin, outlined key dates for launching crypto regulation in the country at the Bank of Russia's Financial Congress. The law could come into force as early as September 1, 2026. After that, market participants will be given time to prepare until July 1, 2027 — from this date, administrative and criminal liability for illegal cryptocurrency operations will begin.

Chistyukhin also noted that the first operations under the new regime could be expected by the end of this year or the beginning of next. This is an important signal for businesses that have long awaited clear rules of the game. However, the question remains: how flexible and competitive will the final regulation be compared to jurisdictions like the UAE or Singapore?

Ethereum Ecosystem: Institutional Breakthrough

An independent non-profit organization, Ethereum Institutional, has been launched within the Ethereum ecosystem, aimed at promoting the network among banks, asset managers, and other financial institutions. The organization will work with Ethereum, L2 solutions, and projects within the ecosystem, serving as an independent entry point for institutions evaluating the second-largest cryptocurrency by market cap for tokenization, stablecoins, and on-chain infrastructure.

Anchor sponsors include BitMine Immersion Technologies, Sharplink, Inc., and ConsenSys CEO Joseph Lubin. While funding amounts are not disclosed, the very creation of such a structure speaks to the ecosystem's maturity and readiness to work with large capital.

StarkNet Quantum Protection and Other News

StarkWare has presented a roadmap for transitioning the L2 network StarkNet to post-quantum cryptography. The plan includes replacing dependencies on elliptic curves and implementing migration tools for existing contracts. Developers call this roadmap the "strongest" in the industry, highlighting growing concerns about quantum threats.

Among other notable events of the week: Russia's Ministry of Digital Development will become the sole AI regulator, Strategy's valuation fell below the value of its Bitcoin reserves for the first time, Meta introduced AI for decoding brain activity, JPMorgan criticized Strategy's decision to sell Bitcoin, and Loopring announced the closure of its DEX.

My view: The week showed that the market is gradually emerging from a phase of extreme panic, but a full-fledged bull trend is still far off. MiCA in Europe is a double-edged sword: on one hand, legalization; on the other, high barriers to entry. Russia, meanwhile, is finally beginning to move towards civilized regulation, which is positive for the entire market in the long term. However, the key driver remains macroeconomics and Fed actions — these will determine Bitcoin's trajectory in the coming weeks.