Bitcoin and Ethereum have driven a notable uptick in cryptocurrency prices as of July 21, 2026, supported by steady buying activity and easing whale selling pressure.
Market Dynamics Behind the Rally
Bitcoin's CVD indicator, which tracks the balance between buying and selling, has remained on an upward trend since the previous day, signaling sustained buyer dominance. This trend has helped Bitcoin maintain its recent price gains, trading at $66,246.28, up 3.29% in the last 24 hours.
Analyst CW highlighted a significant buy wall near $63,000, indicating strong buy orders that could absorb increased selling and slow price declines. At the same time, the absence of substantial sell walls above current prices suggests fewer obstacles to further price rises.
Ethereum also extended its momentum, climbing 4.20% to $1,940.73. Other major assets, including BNB, which rose 2.41% to $579.12, and stablecoins Tether and USDC, which remained near their dollar pegs, contributed to the broader market uptrend. These movements have collectively pushed the cryptocurrency market into positive territory, according to CoinMarketCap data.
Whale Activity Signals Lower Selling Pressure
Recent whale data reveals a shift in market behavior. The Momentum Whale Inflow Ratio, which tracks large holders’ activity, turned negative for the first time in 2026 after five months of positive readings. This change suggests a reduction in the volume of coins being sent to exchanges for sale, potentially limiting supply and supporting prices if demand holds steady.
Crypto Patel described this shift as a bullish short-term signal for Bitcoin, noting that while whale data alone does not determine market direction, it is closely monitored because large holders significantly influence price movements.
