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As analysts have predicted for July based on historical data, $BTC is off to a strong start. The leading digital currency has rebounded from its most recent low of $57,700 to $64,000, a major support and pivot level.
According to the latest CryptoQuant weekly report, bitcoin’s rebound can be attributed to July’s positive seasonality and recovering demand. These factors are likely to contribute to a significant pump before the month runs out.
To substantiate the claims, CryptoQuant analysts cited past data that showed that the seasonal tailwind is strongest in July during bear markets. July has become bitcoin’s reliable positive month over the last decade. During previous bear cycles in 2018 and 2022, $BTC closed the month with 20% and 17% surges, respectively.
So far this month, $BTC has risen 11% from its lows of $57,700, trading above $64,000. The positive momentum witnessed in July usually happens regardless of how weak the broader market trend is. Since $BTC entered July fresh off a bear market low, there is a higher chance of further upside, thanks to positive seasonality.
Moreover, total bitcoin demand is recovering and has climbed back towards neutral after its sharpest contraction since 2022. Analysts noted a recovery in 30-day total demand metrics after the indicator fell to -650,000 $BTC in early June as the asset declined toward $58,000.
Furthermore, investor demand in the United States is improving, as seen in the Coinbase Premium Index, which has recovered from deeply negative readings to -0.062. The rebound was aided by $BTC rebounding from the $57,000 level. It signals that selling pressure on U.S. trading platforms is easing and institutional appetite is stabilizing.
Unfortunately, market conditions are still extremely bearish despite these recent developments, as seen in the CryptoQuant Bull Score Index hovering at 20, which is the bearish zone. Even though $BTC has reached short-term undervalued territory and more price recovery is possible, stronger demand is needed.
In fact, the Bull Score Index needs a reading above 60 for a sustainable rally. Until this happens, every rebound will be treated as a bear-market recovery, not a trend reversal.
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Bitcoin has taken a significant step forward as Base, a layer-2 solution, launched native swaps between Bitcoin and euro stablecoins ($EURC) on its BOB Gateway. This service enables users to exchange Bitcoin directly for $EURC without intermediate steps, highlighting the growing integration of cryptocurrencies into everyday financial transactions. The information was amplified by Base through a retweet of @build_on_bob on July 10, 2026.
The launch of Bitcoin to euro swaps represents a key development in the crypto market, especially for European users looking for seamless digital asset transactions. This feature enables immediate conversions between Bitcoin and $EURC, streamlining trading and enhancing liquidity on the Base platform. As the broader crypto market shows mixed signals, this initiative could position Base as a more attractive option for traders seeking efficient transaction methods. The current trading environment is characterized by a notable shift towards usability and functionality in crypto products.
Currently, Bitcoin’s trading volume remains inactive, indicating early stages of adoption for this new feature. The absence of significant price movement suggests that traders are still assessing the implications of these swaps. However, the integration of Bitcoin and euro stablecoins could lead to increased activity as users become aware of this functionality.
Base’s introduction of Bitcoin swaps aligns with a broader trend toward enhancing the usability of cryptocurrencies. Historically, Bitcoin has dominated the market, but new features like these swaps could shift user interest toward platforms that offer greater flexibility and integration with traditional financial systems.
Traders are watching for potential increases in transaction volume as users adapt to the new swap feature. Monitoring the uptake of $EURC swaps on Base will be crucial in assessing whether this move can revitalize interest in Bitcoin trading. The evolving landscape of crypto usability suggests that we may see a growing focus on platforms that offer direct and efficient trading options.
This article is for informational purposes only and should not be considered financial advice. Readers are encouraged to conduct their own research before making investment decisions.
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April 24 (Reuters) - The Democratic governor of ​Maine, Janet Mills, on Friday vetoed a bill that would have made it the first U.S. state to impose a moratorium on large new data ‌centers, even as local opposition to the electricity-hungry facilities grows.
The decision reflects the difficult trade-off facing political leaders, who must weigh the impact of data centers, opens new tab on the environment and household energy bills against the millions of dollars in investment and tax revenue they can bring.
If signed into law, the bill would have frozen approvals until October 2027 for data centers requiring more than ​20 megawatts of power while a state-appointed council analyzed their impact on the local grid, electricity bills, air and water.
Mills, in a letter to ​the Maine legislature, said she supports a temporary moratorium on data center projects - and would have signed the bill if ⁠it had included an exemption for a data center project underway in the town of Jay that is key to jobs and tax revenue.
"A moratorium is appropriate ​given the impacts of massive data centers in other states on the environment and on electricity rates. But the final version of this bill fails to allow ​for a specific project in the Town of Jay that enjoys strong local support from its host community and region," Mills said in a statement
The Androscoggin paper mill in the town shut down in 2023 after a boiler explosion, leading to hundreds of job losses.
Work to develop a $550 million data center, which reuses existing infrastructure that would not have had a major impact on the electric ​grid or energy bills, is expected to create more than 800 construction jobs and at least 100 high-paying permanent jobs, and would contribute property tax revenue ​to the town of Jay, Mills said.
Mills also said that she plans to issue an executive order establishing a council to examine the impact of data centers in Maine and ‌has signed ⁠a bill to prohibit data center projects from Maine's business development tax incentive programs.
American tech giants have pledged to spend more than $600 billion on artificial intelligence data centers this year as part of a spending spree that has boosted the U.S. economy and is considered the biggest since the telecom boom of the late 1990s.
But mounting opposition to that buildout has led more than a dozen U.S. states to weigh legislation that would halt or restrain development of ​the facilities, even as the Trump administration ​pressures states to stay out of ⁠AI regulation.
To ease worries about rising electricity bills, Washington last month got big technology companies to sign a voluntary pledge at the White House that they would bear the cost of new electricity generation to power their data centers.
Two Democratic lawmakers - ​Senator Bernie Sanders and Representative Alexandria Ocasio-Cortez - have also introduced legislation to halt all construction on data centers until ​Congress passes AI safety ⁠legislation.
Maine lawmakers passed the bill against data centers last week, sponsored by Democratic state representative Melanie Sachs. The state was seen as a test case of whether such measures could be adopted in other places.
Limiting data center development would have, however, added to the economic pressure in a rural state already grappling with mill closures that have ⁠eroded one ​of its key industries.
Sachs said Mills' decision to veto the bill was "simply wrong".
While a veto might ​protect the proposed data center project in Jay, it poses significant potential consequences for all ratepayers, our electric grid, our environment and our shared energy future," Sachs said.
Virginia, one of the world's largest data ​center hubs, is among the U.S. states considering similar legislation.
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XRP is flat over the past 24 hours, but down more than 60% from its summer 2025 peak.
Such large-scale movements, often referred to as “whale transactions,” are closely monitored in crypto markets because they can hint at institutional or high-net-worth investor intentions. In many cases, inflows of this magnitude to centralized exchanges are interpreted as a potential signal that holders may be preparing to sell or rebalance their positions. This is because assets sent to exchanges are typically made more liquid and readily tradable than those held in direct custody in personal wallets.
That said, transfers to exchanges could also mean repositioning assets, engaging in over-the-counter settlement processes, or moving funds for custody-related purposes.
Still, the timing and size of the transfer is noteworthy for those trading the payments-focused cryptocurrency. As always in crypto markets, large movements can influence perception, even when their ultimate intent remains uncertain.
XRP is trading at about $1.33, flat over the past 24 hours, but down more than 60% since peaking in the summer of 2025.
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