Bitcoin price steadies near $65,000 as regulation and whale buying shift market

Bitcoin hovered around the $65,000 level in late July 2026, gaining about 2 % after news that Russia’s State Duma will vote on a crypto‑bill allowing cross‑border settlement of digital currencies. The legislation, if passed, would treat crypto as property and could spur institutional use despite sanctions‑related pressures.

On‑chain data showed large‑holder (whale) wallets added roughly 66,700 BTC over the past two months, the strongest accumulation since February, while mid‑size holders sold about 77,800 BTC, indicating a divergence in market sentiment. Analysts noted that the price is testing a “glass ceiling” near $65 k, with technical indicators suggesting a possible breakout if broader market conditions improve.

Other factors influencing the price included a milder U.S. CPI report for June, which lowered inflation expectations, and mixed forecasts that a further dip to $25,000‑$35,000 could set the stage for the next bull run. Market commentary highlighted that Bitcoin’s recent stability is supported by modest inflows into spot Bitcoin ETFs and a broader crypto market valuation of about $2.2 trillion.