Finance

Digital assets edged higher as a broader risk-on sentiment returned to the markets, driving Bitcoin past the $66,000 threshold to touch a multi-week high. The upward movement coincided with positive institutional engagement, marked by consecutive days of net inflows into U.S. spot Bitcoin exchange-traded funds. Cryptocurrency-linked equities, including platforms like Coinbase and Robinhood, also saw significant gains alongside the underlying tokens.

Renewed conflicts in the Middle East and ongoing strikes involving the U.S. and Iran pushed international oil benchmarks above $91 a barrel. The spike in energy prices has intensified macroeconomic concerns regarding persistent inflationary pressures. Consequently, fixed-income markets adjusted to these inflation risks, driving U.S. Treasury yields to fresh two-month highs.

The small-cap focused Russell 2000 index posted strong gains, continuing an impressive year-to-date trajectory that represents its best performance through this point in July in over a decade. Analysts point out that smaller companies have remained largely immune to the intense two-way volatility buffeting large-cap AI tech favorites. This stability is driven by a recession-resistant domestic economy and limited structural exposure to tech-spending anxieties.