7/23 $BTC Comprehensive Market Overview

😇 News:
The most core positive catalyst comes from US regulatory progress: the CLARITY Act has made substantial breakthroughs. The White House and the Senate reached an agreement on the ethics provisions (barring the President, Vice President, and senior officials from profiting from crypto during their terms), significantly increasing the likelihood that the bill will pass before the August recess. This directly boosts institutional and market confidence, and related crypto stocks surged during the day.
The macro environment is relatively warm: softer US employment data + Fed officials’ comments that AI can improve productivity and ease inflation, reinforcing expectations for Fed rate cuts in 2026, which benefits risk assets.
Ongoing geopolitical tensions between the US and Iran continue to push up oil prices, bringing some inflation concerns, but overall risk appetite has improved due to optimistic policy, and it has not significantly pressured Bitcoin.
😇 Flows:
US spot Bitcoin ETFs have seen net inflows for six consecutive days, accumulating over $900 million (some data reaches $930M). This is the longest streak of net positive inflows since May. On July 20-21, daily inflows were around $226M-$203M, with BlackRock IBIT and Fidelity FBTC as the main forces.
Large withdrawals from exchanges (at one point reaching the order of several hundred million USD in a day) reduce potential sell pressure.
Net positioning changes for long-term holders turned positive; whales/large holders have stopped selling and show signs of accumulation, indicating a recovery in confidence from “smart money.”
😇 Technicals:
After revisiting the support level I gave you yesterday, the price rebounded. The daily chart’s bullish momentum hasn’t fully played out yet. Intraday, watch whether a four-hour level pullback rebound can hold above 66,800; if it cannot, be mindful of the risk of a further pullback.
So, in summary, focus on the strength of the one-hour rebound and its critical point. Intraday, smaller timeframes should mainly focus on rebound, and pay attention to whether smaller timeframes can drive the larger timeframes.
Support: 65,800-65,200 Resistance: 66,800-67,500