According to BlockBeats, on July 13, Decrypt reported that the SEC ended its review of multiple cryptocurrencies during the week, boosting the prices of some altcoins. BNB rose 6.8% after Paxos confirmed on Thursday that the SEC had abandoned its investigation into its sister stablecoin BUSD. Stacks blockchain infrastructure provider Hiro also announced on Friday that the SEC had ended its three-year investigation into the company, and STX's market value has rebounded. A federal court ruling earlier this month also "reaffirmed" ETH's commodity status. Although this is a non-binding decision, the court can consider this in future cryptocurrency-related cases, including cases surrounding small-cap tokens. XRP and Cardano (ADA), two tokens that have long been under SEC scrutiny, have both risen 19% recently.

Bitcoin now also appears to be free of seller pressure from the German government, which sent its last remaining Bitcoin to the exchange on Friday. Its wallet had held about 50,000 BTC for several months, but now its balance has dropped to zero. Bitcoin selling pressure from Germany, the United States, and Mt. Gox creditors has been a popular narrative that has panicked the market over the past few weeks. Currently, with the Bitcoin mining difficulty dropping significantly, short-term traders are panicking and selling at a loss, and on-chain analysts believe that a local bottom may be at or near it.