Over the past week (July 24–30), the crypto market was pulled between macroeconomic turbulence and accelerated entry from traditional finance. Market movements: BTC dropped below $64,000, hitting a low of $63,267; $1.57 billion in total liquidations occurred globally in 24 hours, with long positions accounting for $1.1 billion (70%); ETH tested the $1,870–$1,900 range. The Federal Reserve held rates steady in a rare 9–3 split; new Chair Wash abandoned forward guidance and emphasized that rate hikes remain an option, pressuring risk asset valuations. Regulation: The U.S. CLARITY Act is advancing, backed by Coinbase, Fidelity, and the Treasury Secretary; The EU imposed its 21st round of sanctions, expanding for the first time to 14 crypto platforms; South Korea confirmed a 22% crypto income tax effective January 1, 2027 (tax-free threshold: 2.5 million KRW; losses cannot be carried forward); Russia released a draft framework for digital assets; Argentina is considering permitting mutual funds to invest in crypto. Traditional finance: Morgan Stanley and NYSE Arca launched an ETH+SOL dual ETP; BNY Mellon plans to introduce tokenized U.S. Treasury settlement by 2027; Coinbase partnered with Abu Dhabi sovereign fund Mubadala to integrate RWA onto its balance sheet; Mirae Asset acquired Korbit for $100 million. On-chain: Hyperliquid’s weekly RWA trading volume surpassed crypto perpetuals for the first time (HIP-3: $26 billion); ETH staking rate hit a record high of 33%; The Bhutanese government allocated 10,000 BTC to support infrastructure development; Uniswap launched PermissionedPools. Risk disclaimer: This content is for informational purposes only and does not constitute investment advice. The market carries risks; invest with caution.
Crypto Recap: BTC Drops Below $64K Amid Regulatory Pressure and Institutional Inflow
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Summary
Last week, the crypto market saw BTC drop below $64K, hitting $63,267 amid a $1.57 billion liquidation wave. The Fear & Greed Index reflected heightened uncertainty as the Fed held rates with a 9-3 vote. Regulatory momentum accelerated, with the U.S. CLARITY Act and EU sanctions targeting 14 crypto platforms. Institutional players entered the space, as Morgan Stanley and BNY Mellon joined tokenized markets, and Coinbase partnered with Mubadala on RWA. Ethereum tested the $1,870–1,900 range, while ETH staking yields reached a record 33%.
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