Bitcoin (BTC) reclaimed the $66,000 price level on July 21 for the first time in more than a month, extending its recovery as traders rotated back into risk assets. BTC rose about 2% to trade
Bitcoin (BTC) reclaimed the $66,000 price level on July 21 for the first time in more than a month, extending its recovery as traders rotated back into risk assets.
BTC rose about 2% to trade near $66,700, after breaking through a key resistance zone around $66,000 that had capped prices since mid-June.
Crypto market heatmap: CoinmarketcapThe rally also triggered a wave of short liquidations.
More than $223 million worth of crypto positions were wiped out over the past 24 hours, with shorts accounting for roughly $181 million, according to CoinGlass.
The rebound follows renewed institutional demand.
U.S. spot Bitcoin ETFs recorded $226.8 million in net inflows on July 20, marking a fifth consecutive day of positive flows, according to Farside Investors.
The recovery in crypto markets spilled over into publicly traded crypto companies.
Stablecoin issuer Circle Internet Group (NYSE: CRCL) climbed more than 8% to around $71, while Robinhood Markets (Nasdaq: HOOD) jumped nearly 9% to above $108.
Robinhood has continued expanding its crypto offerings and remains one of the largest retail trading platforms for digital assets.
Bitcoin treasury firm Strategy (Nasdaq: MSTR) also gained almost 5%, trading above $102 as Bitcoin's price recovery boosted sentiment toward companies with large BTC exposure.
Bitcoin mining stocks joined the rally.
MARA Holdings (Nasdaq: MARA) rose more than 7%, while Cipher Digital (Nasdaq: CIFR) advanced nearly 17%, reflecting improving risk appetite across the sector.
The gains come after weeks of pressure on crypto-linked equities as Bitcoin traded below key resistance levels.
Traders are now watching whether BTC can reclaim the $67,500-$68,000 range, which several market analysts view as the next major resistance before a potential move toward $70,000.
