Crypto Market Recap: Bitcoin Rebounds Above $62,000
The cryptocurrency market opened July on a firmer footing after one of its roughest months in years. Bitcoin has clawed its way back above $62,000, reversing a late-June slide that briefly dragged the largest digital asset to a 21-month low near $58,200. The rebound was broad but uneven: Solana led the majors with a double-digit weekly gain, Ethereum stabilised near $1,775, and XRP was the notable laggard, slipping while the rest of the market healed.
Thank you for reading this post, don't forget to subscribe!The Week in Numbers
Here is where the top assets stood as the new trading week began, with seven-day performance measured against the tail end of June’s sell-off. Figures are approximate snapshots and move continuously.
| Asset | Price (approx.) | 7-Day Change |
|---|---|---|
| Bitcoin (BTC) | $62,500 | +3.7% |
| Ethereum (ETH) | $1,775 | ≈ +4% |
| Solana (SOL) | $80.50 | +14% |
| XRP | $1.05 | −1.9% |
| Global market cap | $2.18T | +0.5% (24h) |
| BTC dominance | 58.0% | — |
Bitcoin Finds a Floor
Bitcoin’s week was really a story of a floor that held. After starting 2026 above $93,000, the cryptocurrency spent the first half of the year grinding lower and closed June around $60,000, printing a fresh 21-month low near $58,200 in the final days of the month. That level attracted buyers. Over the past seven days Bitcoin has risen roughly 3.7%, retaking $61,000 mid-week and pushing above $63,000 during thin July 4 holiday trading before settling near $62,500. It was the asset’s highest reading in more than a month.
The bounce does not erase the bigger picture. The 200-day moving average has been sloping downward since early May, a reminder that the medium-term trend remains fragile even after a strong week. Bitcoin dominance sits at roughly 58%, meaning the recovery has so far been led as much by the reserve asset as by the broader field of altcoins. For a deeper breakdown of the majors, our ongoing market analysis coverage tracks these shifts week to week.
Ethereum Steadies, Solana Sprints, XRP Lags
Ethereum, the largest smart-contract platform and the base layer for most of decentralised finance, tracked Bitcoin’s recovery. After opening its strongest session of the week up more than 5% on July 3, Ether settled near $1,775, roughly 4% higher on the week. It remains far below its highs, but the reclaim of $1,700 support steadied nerves among holders. You can follow the network’s fundamentals in our dedicated Ethereum section.
The standout was Solana, which posted a roughly 14% weekly gain to trade near $80.50. The catch: trading volume fell almost 29% over the same period, a divergence that suggests the rally was driven by thinner participation rather than a flood of fresh demand. Traders will want to see volume confirm price before treating the move as durable.
XRP told the opposite story. The token slipped about 1.9% over seven days to around $1.05 and is down roughly 20% over the past month, underperforming the rebound. Stablecoins, meanwhile, continued to swell their footprint, with combined market value near $308 billion, about 13.6% of the entire crypto market, underlining how much capital is still parked on the sidelines waiting for a clearer direction.
What Drove the Turn
The catalyst for the bounce was macroeconomic, not crypto-specific. A softer-than-expected June jobs report and Federal Reserve commentary suggesting that inflation risks had eased tempered fears of further tightening. Lower-for-longer rate expectations tend to lift risk assets, and Bitcoin, Ethereum and the large-cap altcoins all rose together. When an entire market moves in lockstep like this, it is usually a sign that the driver is a shift in macro sentiment rather than any single project’s news. The total crypto market capitalisation edged back up to about $2.18 trillion as a result.
The Israeli Angle
For Israel’s blockchain sector, weeks like this one are a useful reminder that infrastructure and price are two different businesses. Much of the country’s ecosystem is built on the plumbing of the industry rather than on spot speculation. Tel Aviv-founded Fireblocks, one of the world’s largest digital-asset custody and transfer platforms, earns from transaction and security volume that keeps flowing whether Bitcoin is at $58,000 or $63,000. StarkWare, the pioneer behind zero-knowledge scaling and the Starknet layer-2 network, is focused on Ethereum’s long-term throughput, a roadmap largely insulated from any single week’s candles. Israeli-founded trading platform eToro, which offers crypto alongside equities, benefits from the renewed volatility that draws retail activity back to the screens.
On the policy side, the Israel Securities Authority has continued to advance a framework for regulating digital assets and the firms that deal in them, while the Bank of Israel keeps studying a potential digital shekel as part of its broader central-bank digital currency research. That combination of deep engineering talent and a maturing regulatory conversation is why Israeli startups and venture funds tend to keep building through the downturns, positioning for the next cycle rather than trading the current one.
The Week Ahead
The near-term question is whether Bitcoin can convert this relief rally into something sturdier. Bulls will want to see the $60,000 level defended as new support and volume return to confirm the move; bears will point to the falling long-term moving averages as evidence the downtrend is not yet broken. With macro data still setting the tone, traders should expect headline-driven swings and treat the week’s gains as encouraging rather than decisive. For a closer look at the leading asset, see our Bitcoin coverage.
For Hebrew-language coverage, visit coindex.co.il. Portuguese readers can find similar analysis at coindice.com.br.
This content is for informational purposes only and does not constitute financial advice.
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