Bitcoin and Ethereum rally as risk appetite returns to markets
Bitcoin trades above $66,000 and Ethereum breaks $1,900 as investors digest US-Iran developments and await second-quarter earnings reports.
Bitcoin and Ethereum prices rose on Tuesday, 21 July 2026, reflecting a renewed appetite for risk among investors. Bitcoin opened at $65,214.10, up 0.8% from Monday’s opening price, and traded at $66,398.15 by 9:30 a.m. ET. Ethereum followed a similar trajectory, opening at $1,903.35, up 1.7%, and rising to $1,935.99 by the same time.
The gains in the cryptocurrency sector coincided with an uptick in the tech-heavy Nasdaq-100 index, suggesting a broader shift in market sentiment towards higher-risk assets. This movement marks a potential shift from recent trends, as institutional investors have previously shown heavy buying in traditional tech shares such as NVIDIA and Amazon, with Amazon shares rising 31.9% in a month following strong fourth-quarter fiscal 2025 earnings.
Data from SoSo Value indicates that Bitcoin exchange-traded funds recorded positive net inflows for the second consecutive week. This marks the first such streak since May, although these recent inflows have not yet offset the outflows experienced over the preceding several weeks. The data suggests that while institutional interest is returning, it has not yet fully reversed the recent negative flow trends.
Market volatility is expected to persist as investors process ongoing developments regarding the US-Iran war. Broader market sentiment has already been influenced by recent US stock market rises linked to the SpaceX IPO debut and hopes for a US-Iran peace deal, which previously impacted oil prices. Investors are also awaiting continued second-quarter earnings reports, which will provide further clarity on corporate performance in the current economic climate.
Bitcoin’s current trading levels remain well below its all-time high of $128,198.07 recorded on 6 October 2025, while Ethereum’s price is also significantly lower than its peak of $4,953.73 on 24 August 2025. Despite these historical highs, the assets continue to serve as foundational components in modern digital portfolios, with investors employing various strategies ranging from short-term trading to long-term staking.
