Thahbib Rahman
Research Analyst
Last Updated:
July 23, 2026
•
4 Minutes
Crypto Risk Appetite Report 23rd July 2026
This week's edition of our Market Sentiment Report.
BLOCK SCHOLES BTC RISK APPETITE INDEX
The Risk-Appetite Index for BTC has slowly ticked higher over the past week as spot price consolidates around $65K. Sentiment in BTC has also been supported by a modest-to-slightly positive put-call skew for short-dated options and seven consecutive days of spot ETF inflows.
BTC SPOT RETURNS AFTER RISK APPETITE INDEX CROSSES FROM BELOW -0.8 THRESHOLD
BLOCK SCHOLES ETH RISK APPETITE INDEX
As ETH trades just under $1,900, Risk-Appetite has continued to bounce higher, crossing -0.8 from below. Historically, previous crossings of that level from below have preceded more bullish spot performance.
ETH SPOT RETURNS AFTER RISK APPETITE INDEX CROSSES FROM BELOW -0.8 THRESHOLD
Data behind Risk Appetite charts: BlockScholes BTC/ETH/ SOL/ SUI/ XRP composite spot index price. Available via the BlockScholes REST API.
BLOCK SCHOLES ALTCOIN RISK APPETITE INDEX
BLOCK SCHOLES XRP RISK APPETITE INDEX
BLOCK SCHOLES SUI RISK APPETITE INDEX
BLOCK SCHOLES SOL RISK APPETITE INDEX
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PREMIUM
Institutional
Crypto Risk Appetite Report 23rd July 2026
This week's edition of our Market Sentiment Report.
Free
PREMIUM
Institutional
A 5% Long Bond Marks Its Longest Run Since the 2007 Financial Crisis
The US 30-year Treasury yield has held above 5% for its longest stretch since the 2007 financial crisis, weighing on risk assets alongside a jump in Brent crude to $98 on widening US-Iran strikes. The S&P 500 fell for a fourth loss in five sessions and BTC eased back below $66K after nearing $67K on Tuesday, while Alphabet beat on $119B of quarterly revenue but slipped after hours. In crypto, BitMEX will permanently close on 23 September after an 11-year run, Senate Republicans released updated CLARITY Act text that several Democrats still oppose over its ethics language, Arbitrum-based AFX Trade suffered a $24.15M bridge exploit, and TRON was added to the new S&P Pantera Digital Asset Index.
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Markets Climb Even as Brent Nears $95 and Treasury Yields Hit Two-Month Highs
US equities and digital assets both advanced despite a hostile macro backdrop, with Brent crude up 20% in July to just short of $95 as US airstrikes on Iran widened, and US 10- and 30-year Treasury yields sitting at two-month highs. BTC rallied to almost $67K and ETH towards $1,950, supported by Treasury Secretary Bessent saying lawmakers are at the “1-yard line” on the CLARITY Act and a sixth straight day of spot Bitcoin ETF inflows at $203.2M. In crypto, Telegram plans a native non-custodial GRAM wallet for its ~1B users, Russia's State Duma passed a regulated crypto trading framework, Coinbase blamed a configuration update for a 50-minute outage, and Satsuma shareholders voted to liquidate the company's 668 BTC treasury.