Crypto News, July 1: Bitcoin Price Holds $59K as Ethereum Stays Steady on MiCA Day Zero

Markets opened Q3 steadily, Bitcoin price is holding the $59K level, Ethereum shows strength at what could be the bottom, and MiCA full enforcement just hit with almost no fireworks. Crypto has been bracing for liquidity trouble as MiCA takes effect, especially with Binance among others thinning the liquidity.

The expected moves were obvious for months; Bitcoin price and Ethereum price were already baked in the changes, so the actual day zero passed quietly.

On the other side of the world, Trump’s latest financial filing has dropped. It showed over $1.4 billion in crypto earnings last year, with Bitcoin exposure in a healthy sum. This likely sends a signal that he’s not walking away from this space anytime soon.

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Although Bitcoin price took a hit from record ETF selling with $4.51 billion in outflows last month, or the worst since they launched, it has found support and has not broken lower. Some profit-taking and money rotating into AI stocks are some of the reasons that took the blame for the recent plunges.

As of today, the total ETF assets sit above $70 billion, so the selling looks more like a pause than a collapse. It’s not a good day for spot holders when US spot Bitcoin ETFs saw $4.51B in net outflows in June. However, it looks more like a temporary adjustment than a deeper pullback.

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Ethereum price traded flat around $1,570–$1,590, with no big swings even as MiCA rules were locked in today. The Ethereum Foundation has also just staked another 4,938 ETH worth close to $8 million on Lido. It shows they’re comfortable parking more capital in the staking system right when Europe tightens up, and foundation rebalancing is going on.

BREAKING: As of today, the most used dollar on earth cannot be bought or sold by a single European on a single licensed exchange.

It did not break. It refused to bend, and a 27-nation bloc decided that was enough.

That is Tether… pic.twitter.com/PUYV5d8A2N

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Ethereum price has been grinding along as MiCA full rules are live. Unlicensed platforms like Binance have now stopped serving EU users or shut down, with a lot of smaller operators already pulling back or moving. On top of that, UK investors filed a $200 million lawsuit against Binance and CZ over unauthorized derivatives sold to retail traders.

The MiCA shift and the Binance legal noise haven’t moved the market much. Liquidity concerns turned out lighter than expected, Trump’s big crypto profits, and the Ethereum Foundation’s fresh Lido stake tell that some are still bullish. Big players are still putting money to work instead of running for the exits.

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