The Bitcoin (BTC) regained strength this Monday and surpassed the US$ 66 thousand, reaching its highest price in more than a month. The cryptocurrency has accumulated an increase of more than US$ 8 thousand since the low recorded on July 1, when it was traded below US$ 58 thousand, a movement that reinforces the return of optimism among investors.
Despite the difficult start, July maintains its tradition of being one of the historically most positive months for Bitcoin. The recovery comes amid a combination of institutional, economic, and regulatory factors that have once again favored digital assets.
One of the main drivers of the rally is the return of positive flows to spot Bitcoin ETFs. After facing eight consecutive weeks of capital outflows between May and June, the funds began recording new net inflows throughout July. The movement gained strength in recent days and, on July 20, the ETFs received nearly US$ 227 million in new investments, consolidating the second straight week of positive inflows.
Another relevant factor is the behavior of the so-called whales, investors who control large amounts of Bitcoin. Data from CryptoQuant show that wallets with balances between 1.000 and 10.000 BTC significantly increased their positions over the last 60 days, accumulating about 66,700 BTC net during the period.
“This is the cohort’s highest accumulation index since February 17, when net accumulation briefly exceeded 106,000 BTC.”
In the macroeconomic scenario, the release of the Consumer Price Index (CPI) in the United States also helped sustain the upward movement. June inflation came in below market expectations, reducing the pressure for the Federal Reserve to maintain a more restrictive monetary policy. This environment tends to favor assets considered riskier, including Bitcoin.
In addition to economic factors, the market also reacted to news involving the CLARITY Act, considered one of the most important proposals to regulate the cryptocurrency sector in the United States. After the perception that its chances of approval had decreased, information emerged that the White House reached an agreement on a package of ethical measures linked to the bill and forwarded the text for review by Republican senators.
Although the details of the proposal are still limited, the progress of negotiations increased the confidence of part of the market that the legislation may move forward in 2026. The expectation of clearer rules for the sector helped strengthen positive sentiment among investors, helping Bitcoin break above the US$ 66 thousand barrier again and extend the gains recorded throughout the month of July.