The crypto market started recovering in July, but a true reversal hasn’t been confirmed yet. BTC is back above $63K, ETF funds have turned to inflows, and several on-chain bottom indicators are lighting up. However, spot demand remains weak, institutional funds are still on the sidelines, and altcoin selling pressure hasn’t fully eased. The next critical level is $70K. Breaking above it would look more like a trend reversal; failing to do so would still be a post-oversold recovery.