2026-7-4 15:25 |
Last Updated: July 4, 2026
Bitcoin is trading at $62,495.99 on July 4, 2026, up 0.73% over 24 hours after touching a fresh two-week high of $62,979.86 earlier in the session. BTC has now recovered more than $5,100 from Tuesday’s low near $57,800, extending a rally that began after Fed Chair Kevin Warsh eased inflation concerns earlier this week. Bitcoin ETF flows turned positive on July 2 for the first time in over ten days, and attention is now turning to the CLARITY Act, with a compromise text expected around July 4 ahead of a Senate floor vote likely later this month.
Key Takeaways BTC trades at $62,495.99, up 0.73% over 24 hours and 3.59% over the past week Bitcoin has rallied roughly $4,700 from the June 30 low of $57,800.19 Bitcoin ETFs recorded +$221 million in net inflows on July 2, ending a painful 10-day outflow streak A CLARITY Act compromise text is expected around July 4, with a Senate floor vote likely in July before the August recess; the bill still needs 60 votes to overcome a filibuster Market cap stands at $1.25 trillion; 24-hour trading volume is roughly $22.07 billion, down 33.55% Analyst Markus Thielen of 10x Research remains skeptical of the recovery, still projecting a possible drop to $46,000–$47,000 before a genuine cycle low forms Market Overview MetricValueBitcoin Price Today$62,495.9924h Change+0.73%7-Day Change+3.59%Market Cap$1.25T24h Volume$22.07BCirculating Supply20.05M BTCMax Supply21M BTCTreasury Holdings1.33M BTC Bitcoin Price Today AnalysisBTC is changing hands at $62,495.99 after a 24-hour range between $61,700 and $62,979.86. Short-term moving averages remain in bullish alignment: the 7-day MA sits at $62,514.90, the 25-day MA at $62,411.70, and the 99-day MA at $60,729.20, with price trading just below the 7-day average after pulling back slightly from its session peak. Trading volume has eased to $22.07 billion, down a third from the prior session, as the sharpest phase of the rally cools into a more measured consolidation.
The move extends a recovery that has now lasted five sessions since the June 30 bottom near $57,800 — Bitcoin’s worst level of the current correction cycle. Not all analysts are convinced the bounce marks a durable low: Markus Thielen of 10x Research argues the rally is unlikely to hold, pointing to roughly $7 billion in net ETF outflows since mid-May and the absence of a clear new source of institutional demand following Strategy’s slowdown in purchases.
Support and Resistance Levels Level TypePriceKey Resistance$62,979 – $65,000Current Price$62,495.99Near-Term Support$61,700Critical Support$60,000Downside Risk (if support fails)$57,800 Why Is Bitcoin Up Today?Bitcoin’s climb toward $63,000 continues to build on a reversal that began with Fed Chair Kevin Warsh’s comments earlier this week reiterating the central bank’s commitment to its 2% inflation target. That shift in tone, combined with Bitcoin ETFs posting +$221 million in net inflows on July 2 — the first positive day after a ten-day losing streak — has helped stabilize sentiment following June’s record institutional outflows.
Corporate accumulation has also continued through the volatility. Strategy purchased 520 BTC for approximately $35 million in late June, while Strive added 759 BTC for roughly $50 million at an average price of $65,850 per coin, according to an SEC filing. Retail positioning has stayed aggressively bullish throughout the pullback and recovery, with Binance’s long/short ratio still skewed heavily toward longs, even as institutional ETF flows only recently turned positive.
Regulatory developments are also shaping sentiment heading into the holiday weekend. A compromise text for the CLARITY Act is expected around July 4, though the bill still requires 60 votes to clear a Senate filibuster, meaning at least seven Democratic crossovers. Polymarket has trimmed 2026 passage odds to roughly 48%, reflecting genuine uncertainty rather than a clear expectation of passage.
What This Means for the Days AheadBitcoin’s next test is the $62,979–$65,000 resistance band, the upper edge of which BTC briefly touched earlier today before pulling back. A sustained close above $63,000 would strengthen the case that the June correction has run its course, while a drop back below $61,700 would raise questions about whether this week’s bounce was simply a relief rally within a larger downtrend. Thielen’s bearish case — a potential slide to $46,000–$47,000 before a genuine bottom, with a low possibly forming around October 2026 — stands in sharp contrast to the market’s current price action and underscores how divided professional analysts remain on the durability of this recovery.
The CLARITY Act’s Senate floor vote, expected sometime in July before the August recess, remains the single largest wildcard for Bitcoin’s medium-term trajectory. Citi has already cut its 12-month Bitcoin price target citing stalled legislation, though the firm’s forecast predates this week’s rebound and may be revised. For the latest on how altcoins are responding to Bitcoin’s move, see Ethereum News Today and XRP News Today.
For a full market snapshot across major assets, visit our Crypto Market Today page.
Compare Crypto Prices Today AssetLive PriceBitcoin Price$62,495.99Ethereum PriceCheck current ETH priceXRP PriceCheck current XRP priceSolana PriceCheck current SOL priceBNB PriceCheck current BNB priceTron PriceCheck current TRX price Where to Buy BitcoinBitcoin can be purchased on major cryptocurrency exchanges including Binance, Coinbase, Kraken, KuCoin, Gate.io, and OKX.
FAQIs Bitcoin going up or down today?
Bitcoin is up 0.73% over the past 24 hours and up 3.59% over the past week, trading at $62,495.99 after touching a two-week high of $62,979.86.
Why is Bitcoin’s price rising this week?
The rally is tied to Fed Chair Kevin Warsh easing inflation concerns, Bitcoin ETFs turning positive after a ten-day outflow streak, and continued corporate accumulation by firms like Strategy and Strive.
What is the key resistance level for Bitcoin right now?
The $62,979–$65,000 zone is the key resistance area; a sustained close above $63,000 would strengthen the case for continued recovery.
Will the CLARITY Act pass in July 2026?
A compromise text is expected around July 4, with a Senate floor vote likely later in July before the August recess. The bill still needs 60 votes to overcome a filibuster, and Polymarket currently prices passage odds at roughly 48%.
Could Bitcoin fall back toward $50,000?
Some analysts, including Markus Thielen of 10x Research, argue the current rally may not hold and project a possible decline to $46,000–$47,000 before a genuine cycle low forms, though this is a minority view given the market’s current upward momentum.
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