Markets Bitcoin Reaches Two-Week Peak Near $65,500 Amid Semiconductor Recovery
Asian semiconductor stocks experienced a significant rebound, with over $600 million in ETF inflows over five days, while oil prices retreated due to Middle East diplomatic efforts.
By Shaurya Malwa Jul 21, 2026, 5:34 a.m. 2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on
Bitcoin reaches a two-week peak near $65,500 amid semiconductor recovery. (dujin yun/Pixabay)SummaryShow- Bitcoin surged to a two-week peak around $65,500 as a recovery in Asian semiconductor stocks spurred a wider risk rally, with ether and other major cryptocurrencies also gaining.
- This surge was bolstered by five consecutive days of inflows into U.S. spot bitcoin ETFs, totaling over $600 million, marking the strongest institutional buying since mid-July.
- Market participants view the Federal Reserve’s upcoming meeting at the end of July as a crucial factor for this rally, with low but reasonable crypto prices and subdued trading volumes potentially limiting enthusiasm.
On Tuesday, Bitcoin climbed to approximately $65,500, marking a two-week high as the semiconductor selloff from the previous week reversed, leading Asian chip stocks to drive a broad risk rally.
The leading cryptocurrency increased by 1% for the day and 5% for the week, with around $33 billion traded. Ether outperformed again, reaching $1,922, up 3% for the day and 8% over the week. XRP gained 3% to $1.13, up 6% for the week, Solana rose 2% to $78, BNB remained at $574, and dogecoin remained unchanged. Hyperliquid's HYPE increased by 4% to $63 but remains the only major token in the red for the week.
The recovery began where last week's declines started, with MSCI's Asia Pacific equities index rising by 2%, marking its first gain in four sessions, driven by strong performances from Samsung and Taiwan Semiconductor.
Benchmarks in South Korea and Taiwan each rose around 4%, while a tech-heavy index in mainland China surged nearly 7% as state-affiliated institutions stepped in. Japan's Nikkei index saw a 3% increase after experiencing a correction on Friday. The recent AI-related shock that negatively impacted chip stocks has, for now, given way to renewed buying interest.
Two additional factors supported this upward movement. U.S. spot bitcoin ETFs have recorded inflows for five consecutive days, exceeding $600 million, representing the most consistent institutional buying since mid-July, reversing an eight-week streak of outflows that lasted until late June.
Furthermore, oil prices, which had risen for two days amidst conflict, retreated, with Brent crude dropping by 1% to around $88.58 as Iran indicated that mediators were working on proposals to de-escalate tensions, including a suggested 10-day cessation of strikes.
According to Jeff Mei, chief operating officer at BTSE, "Current bitcoin and ether prices are low but reasonable, taking into account the macroeconomic uncertainties affecting the markets." He noted that traders are particularly focused on the upcoming Fed meeting as a pivotal moment.
"Traders anticipate that rates will remain unchanged but are looking for additional signals regarding future directions later this year,” Mei added.
The outcome of that meeting represents a potential limiting factor for the current rally. The Federal Reserve will convene on July 28 and 29, with market expectations placing the likelihood of a rate hike in July at roughly 15%, although a move in September remains possible.
Despite rising prices, spot-market volume across cryptocurrencies remained low, suggesting that the uptick was driven more by a return of risk appetite rather than solid conviction, with rising oil and Treasury yields still acting as factors that could keep the Fed hawkish and limit risk asset growth.
The same forces that dictated market movements throughout the month have simply reversed direction. Bitcoin experienced a decline last week as Asian chip stocks fell, and it has now reached a two-week high due to their recovery.
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Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months
Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
By CoinDesk ResearchJul 13, 2026CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
Why it matters:
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
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