The cryptocurrency market started the week weak on July 20, with the total cryptocurrency market capitalization approaching $2.19 trillion after an early decline of 0.38%.
A low-liquidity weekend made prices fragile, and fresh fears of the Iran war combined with caution ahead of a key cryptocurrency vote in the US kept buyers on the sidelines.
1. Fears of war on Iran keep oil prices high and avoid the risks of cryptocurrencies
The conflict is escalating and will not subside. Iran is considering a ground incursion into Kuwait to seize American bases American losses increased They push traders towards safety and away from risky assets like cryptocurrencies.
As a result, Brent crude oil rose by about 3.45% in five days to close to $84 Oil tensions resulting from the Iranian conflict It’s not over yet.
Total must now recover $2.23 trillion, then $2.29 trillion, to show its strength.
It is defending $2.16 trillion, but a daily close below that level opens up $2.12 trillion and $2.08 trillion.
- flash point: Iran is looking forward to a ground incursion into Kuwait
- Oil told: Brent rose about 3.45% in five days
- Waiting level: Total defense minimum of $2.16 trillion
2. Traders await the vote on the Clarity Act
At the same time, the mood is cautious, not panicky. The Senate released an updated text of The law of clarity of market structure On Friday, and the vote could take place this week, a crucial extension of US cryptocurrency rules.
However, the passage is not at all certain. The bill requires 60 votes About seven Democrats, and Polymarket estimates the odds of a 2026 coin flip approaching 45%. In addition, stablecoin supply also settled near $310 billion, down 0.38% in a week, a sign that new money is waiting rather than buying.
- Catalyst: A Senate vote on the CLARITY Act is approaching
- mathematics: 60 votes and seven Democrats are needed
- Dry powder: The stablecoin cap is approaching $310 billion
Coin Spotlight: Zcash (ZEC) down 4%
Among the laggards, Zcash (ZEC) fell about 4% to near $537, extending a break. Zcash’s sharp rebound in 2026. It still holds a 15% gain over 30 days.
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Despite the slippage, the pullback appears constructive. It’s like a bull flag, a pause that often resolves above, and the selling volume has faded since July 16 even as the price has fallen. So $523 is the level to hold.
A close above $559 could confirm a breakout towards $616, then $642, while a loss of $523 risks a drop to $490, then $438. Currently, the $523 level separates a flag breakout from a deeper pullback.
- Decrease: ZEC stock was down about 4%, near $537
- Taurus condition: Bull flag as selling volume fades
- Hack key: Close above $559 opens $616
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