In the past week, the digital asset market showed a confident recovery from the June downturn. Bitcoin bounced off local lows, the transition period for the MiCA regulation ended in Europe, and Russia set specific timelines for launching crypto regulation. Let's break down the key events in detail.
Bitcoin recovers losses: +4.6% for the week
The leading cryptocurrency started the week with a sharp rebound from the $57,700 mark — a nearly two-year low. By July 1, the price had surpassed the $60,000 level, and on Saturday, July 4, it reached $63,300 on Binance. By Sunday evening, the price corrected to $62,700, but the weekly gain stood at a solid 4.6%.
Interestingly, the recovery occurred amid statements by Fed Governor Kevin Warsh about persistently high inflation in the U.S., which traditionally weighs on risk assets. However, Bitcoin ignored this negative sentiment, as well as the sell-off in chipmaker stocks. Altcoins showed even more impressive dynamics: Solana gained 12.7%, Ethereum 11.7%, and the Hyperliquid token rose by over 10%.
Despite the positive trend, outflows from spot Bitcoin ETFs continued for the eighth consecutive week — minus $526.6 million. However, on July 2, the products attracted $221.7 million, which could signal a shift in institutional sentiment. Ethereum-based funds also lost $13.7 million over the week.
The Fear and Greed Index remains in the extreme fear zone, rising from 18 to 23 points. The total market capitalization recovered from $2.07 trillion to $2.17 trillion, while Bitcoin's dominance decreased from 58.1% to 57.9%, and Ethereum's share jumped from 9.2% to 9.8%.
MiCA: Transition period completed
On July 1, 2026, the transition period for cryptocurrency platforms under the MiCA regulation officially expired in the European Union. Companies that failed to obtain a license are required to stop servicing European clients. According to ESMA, by the end of the period, there were 244 authorized crypto service providers in the EU and EEA. In the final days, several companies received licenses in Italy, France, Malta, and Spain.
The European Commission has already begun reviewing the regulation, launching public and targeted consultations. This is an important signal: MiCA may be adapted to new market realities and international standards.
Russia: Crypto regulation from September 1
Vladimir Chistyukhin, First Deputy Chairman of the Central Bank of Russia, announced at the Bank of Russia Financial Congress the launch date for crypto regulation — September 1, 2026. After that, market participants will be given a transition period until July 1, 2027, to gather documents, obtain licenses, and restructure processes. From this date, administrative and criminal liability for illegal cryptocurrency operations should come into effect.
The first operations under the new regime are expected by the end of 2026 or early 2027. This is an ambitious but realistic timeline, given that the main framework for the bill "On Digital Currency and Digital Rights" was supposed to be ready by July 1.
Ecosystem news: Ethereum Institutional and StarkNet quantum protection
In the Ethereum ecosystem, an independent non-profit organization, Ethereum Institutional, has been launched, aimed at promoting the network among banks and asset managers. The team includes well-known specialists, with anchor sponsors being BitMine Immersion Technologies, Sharplink, and ConsenSys CEO Joseph Lubin.
StarkWare presented a roadmap for protecting StarkNet from quantum threats. The plan includes replacing dependencies on elliptic curves and implementing post-quantum digital signatures. The final stage will depend on Ethereum's transition to post-quantum cryptography.
My analysis: The week showed that Bitcoin retains the ability to recover quickly even amid macroeconomic uncertainty. However, outflows from ETFs and the low Fear and Greed Index indicate that the market has not yet exited the risk zone. MiCA and Russian regulation are long-term positive signals, but their impact will not be seen for at least a few months.