The crypto market rose on July 10, lifting the total crypto market cap 1.24% to $2.18 trillion. The gains came after Bitcoin ETF flows turned green for the first time in eight weeks, while US crypto legislation optimism added fuel.
1. ETF Flows Turn Green After Eight Weeks of Bleeding
The clearest driver is money returning through US spot Bitcoin ETFs. In the week to July 9, the funds took in about $106.96 million, their first green week after eight straight weeks of outflows. Because ETF buying means real Bitcoin is bought, the flip adds a bid.
As a result, the total crypto market cap climbed 1.24% to $2.18 trillion. It now needs a daily close above $2.21 trillion to show strength, then $2.22 and $2.29 trillion. If the rally fades, $2.15 trillion is the first floor.
- Trigger: ETF flows +$106.96 million, first green week in eight
- Line In Sand: daily close above $2.21 trillion signals strength
- Downside: losing $2.15 trillion opens $2.12 and $2.09 trillion
2. US Crypto Legislation Optimism Builds Before the Senate Returns
Meanwhile, traders are front-running Washington. The Senate returns July 13 with eight working days to move the CLARITY Act, a market-structure bill splitting SEC and CFTC oversight, before recess.
However, the odds have cooled. Prediction markets slid from 74% to 46%, a coin flip. Galaxy, an investment firm, cut its 2026 odds to 60%.
Even so, Galaxy’s Alex Thorn says the industry gets most of what it wants through agency guidance anyway, keeping sentiment firm.
- Catalyst: clearer SEC and CFTC rules de-risk US crypto
- Timeline: Senate returns July 13, recess looms in August
- Caveat: passage odds have slid to a coin flip
Coin Spotlight: Zcash (ZEC) Jumps 6% but Stays Trapped
Among crypto market gainers, Zcash (ZEC) rose 6.4% to near $502, extending its weekly gain to 15%. Still, the chart stays bearish, tracing a head-and-shoulders top, a reversal pattern, with roughly 28% downside risk.
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To weaken it, ZEC needs a daily close above $512, and above $542 to invalidate it. Volume has fallen across sessions, so that breakout looks doubtful, and failure risks a slide to $471, $445, then the $338 neckline. The $512 level separates a real recovery from a deeper correction.
- Move: up 6.4% today, 15% on the week
- Make-or-Break: needs a daily close above $512
- Bear Case: fading volume points toward the $338 neckline
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