Leading cryptocurrencies flatlined on Wednesday as investors weighed the implications of the Clarity Act and rising geopolitical tensions in the Middle East.
| Cryptocurrency | 24-Hour Gains +/- | Price (Recorded at 9:23 p.m. EDT) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -0.64% | $65,933.49 |
|
Ethereum (CRYPTO: ETH) |
+0.05% | $1,931.41 |
| XRP (CRYPTO: XRP) | -0.32% | $1.13 |
| Solana (CRYPTO: SOL) | -0.18% | $78.12 |
| Dogecoin (CRYPTO: DOGE) | -0.79% | $0.07287 |
Crypto Rally Cools
Bitcoin failed to break through $67,000 and slipped back to $65,000 after encountering strong selling pressure. Ethereum wobbled in the narrow range between $1,900 and $1,950, while XRP and Dogecoin also moved sideways.
Cryptocurrency-related stocks also fell, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing down 1.90% and 1.73%, respectively.
Earlier, Senate Republicans released an updated draft of the Clarity Act that introduced new ethics provisions to limit cryptocurrency investments by the president and other federal officials.
Over $180 million was liquidated from the cryptocurrency market in the last 24 hours, predominantly in long positions, according to Coinglass data
Bitcoin’s open interest slid 2.18% over the last 24 hours. Binance derivatives traders bought the dip, with both retail and whale players increasing their long exposure to the leading cryptocurrency.
"Fear" sentiment prevailed in the market, according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
| Cryptocurrency (Market Cap>$100 M) | Gains +/- | Price (Recorded at 9:23 p.m. EDT) |
| Lorenzo Protocol (BANK) | +50.06% | $0.2512 |
| Zama (ZAMA) | +23.02% | $0.04880 |
| Unibase (UB) | +13.97% | $0.1153 |
The global cryptocurrency market capitalization stood at $2.26 trillion, following an increase of 0.82% over the last 24 hours.
Read Also: Bitcoin Fell 50% and MSTR, BMNR, BSTR Are Paying the Price: What's Happening?
Stocks Close in the Red
Stocks ticked lower on Wednesday. The Dow Jones Industrial Average fell 6.06 points, or 0.01%, to close at 52,218.58. The S&P 500 slid 0.14% to close at 7,498.96, while the tech-heavy Nasdaq Composite lost 0.57% to settle at 25,690.90.
Geopolitical tensions remained elevated as Secretary of State Marco Rubio accused Iran of not being “serious” about negotiations. He added that Iran’s demands to control transit through the Strait of Hormuz could “never be allowed to happen.”
Will Bitcoin’s Rebound Lose Steam?
Ali Martinez, a widely followed cryptocurrency analyst and trader, identified $70,920 as the next major resistance to watch for Bitcoin.
“Securing a close above $70,920 is required to clear this overhead supply and confirm the continuation of the BTC rebound,” the analyst added.
RESISTANCE TO WATCH FOR BITCOIN
— Ali Charts (@alicharts) July 22, 2026
As Bitcoin's rebound continues, the MVRV Pricing Bands suggest the immediate resistance level is at $70,920, which corresponds to the -0.5 Band. This is where aggregate investor cost basis could create sell-side pressure.
Securing a close above… https://t.co/swZnXdJXQl pic.twitter.com/FBUb8agaqn
On-chain analytics firm CryptoQuant noted that despite Bitcoin’s recent uptick, spot buying has remained “thin,” with leverage doing the heavy lifting.
“No overheating yet, but not a rally on solid footing either. Watch for spot volume to actually warm up before chasing price,” the firm added.
Bitcoin Breaks $66K: Real Demand or Leverage Illusion?
— CryptoQuant.com (@cryptoquant_com) July 22, 2026
"No overheating yet, but not a rally on solid footing either. Watch for spot volume to actually warm up before chasing price." – By Sunny Mom
Complete analysis ⤵️https://t.co/xPeuseKNNw pic.twitter.com/0IN7XK2TSa
Read Also: Bitcoin Bear Market Over? Not Quite. Analyst Says $83,000 Is The Real Test
Photo Courtesy: PJ McDonnell on Shutterstock.com
