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Cyprus Records Eighth-Hottest July Since 1968

Despite a series of heat warnings, July 2026 ranked as only the eighth-hottest July in Cyprus since systematic records began in 1968, according to the Meteorological Department.

The island was placed under yellow or orange heat warnings on 11 of the month’s 31 days. Even so, temperatures remained below previous July records, including the all-time high of 44.7°C recorded at Athalassa in 2025.

Prolonged Heat Shaped Public Perception

Meteorological Department official Chrystalla Papachristodoulou said many people perceived this July as one of the hottest because of the prolonged heatwave rather than record-breaking temperatures.

Nine yellow and two orange warnings were issued, including seven consecutive days of yellow alerts. After a brief break, temperatures climbed again, reaching 40.7°C on July 31. The month’s highest temperature was 43.2°C, while overnight lows exceeded 30°C at Athalassa.

Hot, But Not Record-Breaking

The highest temperatures this July reached 43.2°C at Athalassa, 38.5°C at Polis Chrysochous, 38.2°C at Larnaca Airport and 33°C at Prodromos, all below historical records for those locations. Yellow warnings were also issued in the Troodos mountains on four days.

The department added that temperatures can feel even higher in central Nicosia, where dense urban development amplifies heat beyond official weather station readings.

Although July brought several days of extreme heat, long-term data show it was warm rather than exceptional by Cyprus’ historical standards.

Bitcoin Surges 23% In A Week As Investor Optimism Returns

Bitcoin was on track for a weekly gain of around 23% on Friday as a series of positive macroeconomic and policy developments boosted investor sentiment.

The cryptocurrency was trading about 6% higher at roughly $77,000, up from around $62,800 at the start of the week. Crypto-related stocks also rallied, with Coinbase and Circle gaining more than 9%, while Strategy rose 7%.

Macro Factors Fuel Rally

Bitcoin’s latest surge began Wednesday after Treasury yields fell sharply following a major intervention by the U.S. Treasury in the bond market. Lower yields eased pressure on risk assets and helped trigger a broader move into cryptocurrencies.

The rally was further amplified by a major short squeeze. Around $2.7 billion in crypto short positions were liquidated, according to CoinGlass.

Max Stuedlein, head of Partnerships at Sygnum APAC, said the move reflected an alignment of macroeconomic and policy catalysts, including the Treasury’s decision to increase buybacks of longer-dated government debt.

Clarity Act Boosts Sentiment

Investor confidence improved further on Thursday as the White House and crypto industry leaders made a final push to advance the Clarity Act in the coming weeks.

The legislation is widely viewed as a potential catalyst for the crypto market, although its chances of passing remain relatively limited.

Despite the rally, bitcoin remains well below its 2026 high of $94,820 reached in January and its all-time high of $126,198, set last October.

Analysts See More Volatility Ahead

Lucy Gazmararian, founder and managing partner at Token Bay Capital, said the crypto market may be approaching the end of its bear cycle.

She expects bitcoin could experience one more decline of around 20% before the market turns, pointing to historical cycles and the recent liquidation of heavily leveraged short positions.

Gazmararian also described bitcoin as a long-term hedge against monetary debasement, while warning that its short-term price remains highly volatile and driven by market cycles.

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