Bitcoin Holds $64K as SEC Shifts to Formal Crypto Rulemaking — ETF Inflows Return

The crypto market is showing signs of life this week as Bitcoin reclaimed the $64,000 level and U.S. regulators signaled a major pivot away from enforcement toward formal rulemaking. For traders who weathered a brutal first half of 2026, the combination of softer economic data, returning ETF inflows, and a friendlier regulatory tone is offering the first real relief rally in months.

SEC Opens the Door to Clear Crypto Rules

In a significant development, the SEC has added three cryptocurrency items to its 2026 regulatory agenda — covering tokenized securities, exchange definitions, and digital asset custody. This marks a sharp departure from the enforcement-heavy approach that defined the previous commission under Gary Gensler. The industry is now watching closely as the U.S. Senate prepares to vote on the CLARITY Act, a comprehensive market structure bill that could finally give crypto businesses the compliance framework they have been demanding for years.

For traders, regulatory clarity is not just a policy abstraction — it directly impacts market confidence, institutional participation, and the long-term viability of altcoin projects. A clear rulebook could unlock the next wave of institutional capital.

Bitcoin ETF Inflows Return — BlackRock Leads the Charge

U.S. spot Bitcoin ETFs posted $265.7 million in net inflows on July 6, with BlackRock’s iShares Bitcoin Trust (IBIT) alone pulling in $209.4 million. This marks the second consecutive positive session after a prolonged period of outflows that had weighed heavily on sentiment. ARK 21Shares’ ARKB added $33 million, while Grayscale’s Mini Bitcoin ETF saw $42.3 million. Grayscale’s GBTC, however, continued to bleed with $44.5 million in outflows.

The return of institutional demand is a critical signal. According to Wintermute’s latest market update, Bitcoin’s advance appears fundamentally supported by whale accumulation of over 270,000 BTC near the 200-week moving average — a level that has historically marked cycle bottoms.

What Is Driving the Relief Rally?

The catalyst was weaker-than-expected U.S. jobs data. June nonfarm payrolls came in at just 57,000 against a consensus of 110,000 — the weakest reading in four months. This softened the dollar and Treasury yields, making risk assets like Bitcoin more attractive as expectations for further Fed rate hikes dropped to around 25%.

Ethereum also surged 13.5% on the week, boosted by the July 1 launch of Ethereum Institutional — a new initiative positioned as a gateway for banks into tokenization and stablecoins. However, Wintermute cautions that this is best viewed as a classic relief rally rather than the start of a structural bull market. Sustained ETF inflows and follow-through on regulatory reform will be needed before declaring a trend reversal.

What Traders Should Watch

Bitcoin faces resistance near the $64,500–$65,000 zone. A clean break above that level with volume could open the door to $68,000. On the downside, $62,000 remains key support. The next major catalysts are upcoming inflation data, Fed communications, and the Senate vote on the CLARITY Act. For altcoin traders, the TAC token’s 90% crash this week is a stark reminder that low-liquidity tokens remain extremely risky — stick to projects with proven fundamentals and deep order books.

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