Bitcoin on Saturday touched $65,500, its highest level in five weeks, buoyed by growing confidence that Washington will provide a clearer legal framework for digital assets. The CLARITY Act, whose ethical guidelines have been approved, is seen by market participants as a step toward greater regulatory certainty, according to Indonesia-based exchange Indodax. Spot Bitcoin exchange-traded funds in the United States attracted about $430m in net inflows over two trading days to 21 July, SoSoValue data showed, signalling sustained institutional demand. Altcoins moved in tandem, though Ethereum underperformed, still trading below $1,890.

Volatility metrics indicate the market is tightly coiled. Bitcoin’s one-year realised volatility remains near 42 per cent, while implied volatility, at 37 per cent, is close to multi-year lows, Delta Exchange analysts noted. This compression often precedes a sharp move once a macro catalyst—such as the upcoming Federal Reserve rate decision or major tech earnings—materialises. Geopolitical tensions in the Middle East injected a note of caution, yet broader risk appetite held, as seen in the modest weekly gains for the S&P 500.

In Latin American currency markets, the Mexican peso firmed 0.24 per cent to close at 17.48 per dollar after bilateral trade talks affirmed that exports compliant with the USMCA pact will retain existing tariff treatment, even as Washington imposed new levies of 10–12.5 per cent on goods from other partners. Argentina’s parallel exchange rate, the blue dollar, ended the week at 1,545 pesos, extending a monthly rise of 1 per cent. The central bank’s survey of market expectations (REM) now projects the official wholesale rate will average 1,482 pesos in July and reach 1,673 by December, reflecting a managed but accelerating depreciation. Economy Minister Luis Caputo warned that holding undeclared dollars under the mattress “is a very bad business” as he prepared to send a tax amnesty bill to Congress.

The euro weakened against most Latin American currencies this year, shedding 7.8 per cent against the Peruvian sol and 6.2 per cent against the Mexican peso, though local inflation dynamics produced a 137.8 per cent surge in Venezuela. Peru’s sol, meanwhile, faces new pressure after the US formalised a 12.5 per cent tariff on exports linked to forced labour. The next milestone for global markets is the Federal Reserve’s interest rate decision, which will set the tone for risk assets including cryptocurrencies and emerging-market currencies.