The past week was eventful for the crypto industry. Bitcoin made an impressive rebound from its local bottom, the European Union finally closed the transitional period for MiCA, and specific timelines for implementing crypto regulation were announced in Russia. Let's break down the key events.

Bitcoin Recovers After June Slump

The leading cryptocurrency started the week with a sharp recovery, bouncing from a nearly two-year low around $57,700. On July 1, the price surpassed the $60,000 mark, and by the weekend, it reached a local high of $63,300. At the time of writing this review, the asset is trading around $62,700, corresponding to a weekly gain of 4.6%. A key catalyst was statements by Fed Governor Kevin Warsh about persistently high inflation in the US, which spurred interest in safe-haven assets.

Interestingly, altcoins in the top 10 by market cap showed even more impressive dynamics. Solana gained 12.7%, Ethereum rose 11.7%, and the Hyperliquid token increased by over 10%. Nevertheless, outflows from spot Bitcoin ETFs continued for the eighth consecutive week, totaling $526.6 million. This indicates persistent caution among institutional investors, despite the positive price momentum.

The Fear and Greed Index, although rising from 18 to 23 points, remains in the "extreme fear" zone. The total market capitalization recovered from $2.07 trillion to $2.17 trillion, while Bitcoin's dominance decreased from 58.1% to 57.9%.

MiCA: A New Era for Crypto Business in Europe

July 1, 2026, became a landmark date for the European crypto market — the transitional period for the Markets in Crypto-Assets (MiCA) regulation expired. Now, all platforms that have not obtained a license must cease servicing clients from the EU. According to ESMA, at the end of the transitional period, there were 244 authorized providers in the register, including giants like Kraken, Coinbase, and Bitstamp.

This event sets a precedent for global regulation. My analysis shows that MiCA is already setting standards that other jurisdictions will look to. Simultaneously, the European Commission has launched a review process for the regulation to assess its relevance in a rapidly changing market and international regulatory landscape.

Russia Prepares to Launch Crypto Regulation

First Deputy Chairman of the Central Bank of Russia, Vladimir Chistyukhin, announced specific timelines: the law on regulating the crypto market could come into force on September 1. After that, market participants will be given a transitional period until July 1, 2027, to obtain licenses and restructure internal processes. From this same date, administrative and criminal liability for illegal operations will take effect.

The first operations under the new regime are expected by the end of this year or the beginning of next. This is an extremely important signal for the market: in my opinion, Russia is choosing a path of strict but structured regulation, which could lead to legalization and capital inflow, but will also create high barriers to entry.

Ecosystem News: Ethereum Institutional and StarkNet Quantum Protection

In the Ethereum ecosystem, an independent non-profit organization, Ethereum Institutional, has been launched, aimed at attracting banks and asset managers. This is an important step for the institutionalization of the network, which seeks to become a base for tokenization and stablecoins.

StarkWare has presented a roadmap for protecting StarkNet from quantum threats. The plan involves replacing elliptic curve cryptography with post-quantum solutions. This is a timely step, given the growing threat from quantum computing.

What Else to Discuss?

  • The Ministry of Digital Development will become the single regulator for AI in Russia.
  • Strategy's valuation fell below the value of its Bitcoin reserves for the first time.
  • Meta introduced AI for decoding brain activity.
  • Google warned the EU about privacy threats due to new search engine requirements.

My Expert Conclusion

The week showed that the market remains highly volatile, but the fundamental drivers — regulation and institutional interest — remain key. I believe that Bitcoin's rebound is not just a correction, but a signal for consolidation before a new phase of growth, which will be supported by regulatory clarity both in Europe and Russia. However, the outflow from ETFs reminds us that investors are still assessing risks.