Bitcoin regains ground as buyers return

TLDR

• Bitcoin gained 6.84% to US$63,650 (A$91,660) as confidence returned
• Total crypto market capitalisation rose 6.86% to US$2.8 trillion (A$4.03 trillion)
• Ethereum climbed 13.59% after unveiling its long-term protocol roadmap
• Cardano, Solana and XRP led broad gains across major digital assets
• Europe's MiCA framework continued reshaping exchange and stablecoin activity
• Corporate and sovereign adoption continued advancing despite softer institutional flows

Introduction

After several weeks of cautious trading, the tide began to turn across digital asset markets. Bitcoin reclaimed key price levels while Ethereum and several major altcoins outperformed. Alongside stronger price action, developments in blockchain infrastructure, regulation and long-term adoption continued reinforcing confidence across the digital asset sector.

Weekly trading stats as of Monday, July 6th at 10:00 AM AEST, based on data from TradingView in USD.

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Bitcoin climbs back above key levels

Bitcoin closed the week at approximately US$63,650 (A$91,660), up 6.84% from the previous week. The move came despite US spot Bitcoin ETFs recording approximately US$4.5 billion (A$6.48 billion) in net outflows throughout June, highlighting a disconnect between improving market sentiment and softer institutional demand.

That divergence was also reflected across the digital asset sector, with total market capitalisation rising 6.86% to around US$2.8 trillion (A$4.03 trillion). Traders will now be watching whether Bitcoin can maintain support above current levels as ETF flows and macroeconomic conditions continue shaping short-term price direction.

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Ethereum upgrade ambitions lift market sentiment

Ethereum outperformed Bitcoin this week, rising 13.59% after outlining one of its most ambitious long-term roadmaps to date. The proposal focuses on improving scalability, reducing transaction costs, and introducing quantum-resistant security, reinforcing Ethereum's commitment to supporting future network growth.

While the changes will take several years to implement, the roadmap provides greater clarity around Ethereum's long-term direction and demonstrates that development across leading blockchain networks continues despite changing market conditions. The announcement also helped reinforce confidence across the digital asset ecosystem.

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Altcoins rally as confidence spreads beyond Bitcoin

Bitcoin's recovery was matched by renewed strength across the digital asset sector. Cardano led weekly gains with a 31.78% increase, while Solana (+14.30%), Chainlink (+10.94%), and XRP (+10.37%) also delivered double-digit returns. The breadth of the rally suggests investors became increasingly comfortable rotating capital back into higher-beta digital assets after several weeks of defensive positioning. Rather than concentrating solely on Bitcoin, buying activity extended across multiple blockchain ecosystems, reflecting improving confidence in the sector's growth outlook.

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Europe's crypto rulebook begins reshaping exchange activity

Regulation remained a defining theme as Europe's Markets in Crypto-Assets (MiCA) framework continued rolling out across the region.

Several exchanges adjusted their stablecoin offerings to comply with the new requirements, while Binance experienced notable asset outflows as users responded to changing platform availability. Revolut also announced plans to delist USDT for customers within the European Economic Area.

Although implementation remains ongoing, the early impact demonstrates how regulatory clarity is beginning to influence trading activity, product availability and capital flows across Europe's digital asset ecosystem.

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Corporate and sovereign interest continues to expand

Beyond weekly price movements, long-term adoption continued gathering momentum. Strategy refined its Bitcoin treasury approach, reinforcing the role of digital assets within corporate capital allocation strategies, while investment products linked to XRP continued attracting investor inflows despite softer demand for Bitcoin ETFs. Together, these developments suggest investor interest continues extending beyond Bitcoin alone.

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Final thoughts

This week's rebound demonstrated that improving market sentiment can support prices even as institutional demand remains mixed. The focus now shifts to whether Bitcoin can build on its recovery, whether ETF flows begin to stabilise and how continued regulatory developments influence trading activity. Those factors are likely to shape market direction as the second half of the year gathers pace.

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