As of 4.30 PM ET on July 22, Bitcoin (CRYPTO:BTC) fell 0.7% to $65,876.96, Ethereum (CRYPTO:ETH) gained 0.2% to $1,926.83, and Solana (CRYPTO:SOL) fell 0.1% to $77.83.  Crypto markets were muted as traders weighed possible legislative progress against macro pressure and shifting sentiment.

What’s driving crypto markets

Bitcoin held relatively steady today, pulling back slightly as traders digested a weaker yen, hotter oil, and renewed inflation worries. Crypto traders will be watching earnings from big tech firms as a barometer for risk appetite, with Alphabet and Tesla reporting after the bell today. Lawmakers released a new draft of the Clarity Act, key crypto legislation, which also buoyed markets, though…