The past week was eventful: the leading cryptocurrency recovered from its local bottom, the transitional period for MiCA ended in Europe, and Russian regulators published a timeline for implementing new rules for digital assets. Let's break down the key events.
Bitcoin recovers June losses
The beginning of July marked a turning point for Bitcoin. After its weakest month in four years, when the price dropped to nearly $57,700, the asset sharply rebounded above $60,000. The growth driver was comments from Federal Reserve Chairman Kevin Warsh about persistently high inflation in the US, which spurred demand for safe-haven assets.
By Saturday, July 4, the exchange rate reached $63,300 on Binance, before correcting to $62,700. The weekly gain was 4.6%. However, altcoins showed even more impressive dynamics: Solana rose by 12.7%, Ethereum by 11.7%, and the Hyperliquid token by more than 10%. The total market capitalization recovered from $2.07 trillion to $2.17 trillion.
Despite the positive sentiment, outflows from spot Bitcoin ETFs continued for the eighth consecutive week, totaling $526.6 million. However, on July 2, the products attracted $221.7 million in a single session, which could signal a shift in institutional sentiment. Ethereum funds also lost $13.7 million over the week. The Fear and Greed Index rose from 18 to 23 points, but still remains in the extreme fear zone.
MiCA: A new era for crypto business in Europe
July 1, 2026, is a landmark date for the European crypto market. The transitional period under the MiCA regulation has expired, and now all platforms serving EU clients are required to hold a license. The European Securities and Markets Authority (ESMA) confirmed that operating without authorization is now considered a violation.
According to the ESMA register, by the end of the transitional period, 244 crypto service providers were accredited in the EU and EEA. In recent days, companies in Italy, France, Malta, and Spain received licenses. Notable players with substantial spot liquidity include Kraken, Coinbase, and Bitstamp. Notably, the European Commission has already launched a review of the regulation to assess its relevance amid market development and international regulation.
Russia: Crypto regulation from September 1
First Deputy Chairman of the Central Bank of Russia, Vladimir Chistyukhin, outlined key dates at the Bank of Russia Financial Congress. The law on regulating the crypto market could come into force as early as September 1, 2026. After that, market participants will be given time to prepare: collecting documents, obtaining licenses, and restructuring internal processes.
The transitional period will last until July 1, 2027, after which administrative and criminal liability for illegal operations will come into effect. The first operations under the new regime are expected by the end of 2026 or the beginning of 2027. This is an ambitious but realistic plan that will finally bring clarity to the legal framework for Russian crypto companies.
Ecosystem news: Ethereum for institutions and quantum protection
In the Ethereum ecosystem, an independent non-profit organization, Ethereum Institutional, has been launched. Its goal is to promote the network among banks and asset managers. Anchor sponsors include BitMine Immersion Technologies, Sharplink, Inc., and ConsenSys CEO Joseph Lubin. This is an important step for legitimizing Ethereum in the eyes of traditional financial giants.
Meanwhile, StarkWare presented a roadmap for protecting StarkNet from quantum threats. The plan includes replacing dependencies on elliptic curves with post-quantum cryptography. StarkNet's architectural advantage—using STARK proofs based on hash functions—already makes the network resistant to quantum attacks. The final stage will depend on Ethereum itself transitioning to new cryptography.
My expert opinion: Bitcoin's recovery above $62,500 amid continued ETF outflows indicates that the market is gradually digesting macroeconomic risks and preparing for a new rally. However, MiCA and Russian regulation are not just bureaucratic formalities. They create a foundation for a massive influx of institutional capital, which could fundamentally change the market structure in the long term.