Bitcoin Fear Remains Extreme, But..

Plus, BitMEX shutting down after eleven years

AuthorAuthor

Ivan & Khyathi Dalal
July 23, 2026

Happy Thursday!

Bitcoin fear remains extreme, but Anthony Scaramucci believes it will grind higher. He also issued a stark warning that the CLARITY Act could suffer a "brutal death" if it doesn't reach the floor.

BitMEX announced it will shut down in September 2026 ending its 11-year run following a strategic review of the exchange and the broader crypto industry.

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TOP STORY

SkyBridge Capital founder Anthony Scaramucci said Bitcoin is likely to “grind higher” despite weak market sentiment, while warning that the Senate has only a narrow window to pass the CLARITY Act before lawmakers leave for the August recess.

“It’s going to grind higher because the sentiment is terrible,” Scaramucci said.

For CLARITY Act, he warned “If it doesn’t get to the floor, it dies a brutal death.”

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MARKET MINUTES

ETH/BTC bottomed? Ethereum is showing early signs of forming a bottom against Bitcoin but data does not yet confirm. Is ETH ready to outperform?

XRP large holders added to their positions while smaller retail wallets sold, a divergence that analytics firm Santiment said points in a bullish direction historically. Is a rally incoming?

Bitcoin ETFs have recorded seven consecutive trading days of net inflows since July 14, bringing in around $981.2 million as Bitcoin climbed to as high as $66,300. Is $70,000 BTC The Next Stop?

FINTECH FOCUS

BitMEX announced Wednesday it will shut down its exchange on Sept. 23, ending an 11-year run as one of crypto’s most influential derivatives platforms after a strategic review of the business.

The exchange will continue operating normally until Aug. 26, when BitMEX will stop users from opening new positions, allowing only position reductions.

BitMEX launched in 2014 to give retail traders access to professional-grade crypto derivatives.

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