Bitcoin, Ethereum, XRP, Dogecoin Gain Ahead of Fed Rate Cut Decision: Analyst Asks Investors to ‘Mark Your Calendar’ for Next BTC Bottom
Leading cryptocurrencies rose slightly on Tuesday as investors weighed renewed tensions in the Middle East and the Federal Reserve’s upcoming decision on interest rates.
Crypto Market Gains
Bitcoin rallied as high as $64,100 but ran into resistance, with 24-hour trading volume dropping steeply. Ethereum moved in a similar direction, but then met strong selling pressure after reaching $1.20.
Cryptocurrency-related stocks, meanwhile, fell, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing down 2.52% and 1.95%, respectively.
Over $330 million was liquidated from the cryptocurrency market in the last 24 hours, with $241 million in bullish long positions erased, according to data from Coinglass.
Bitcoin’s open interest rose slightly by 0.02% over the last 24 hours. Notably, retail and whale derivatives traders on Binance trimmed their BTC long exposure after the spike.
“Fear” sentiment prevailed in the market, according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
|
Cryptocurrency (Market Cap>$100 M) |
Gains +/- |
Price (Recorded at 9:25 p.m. EDT) |
|
Bitway (BTW) |
+44.60% |
$0.09208 |
|
Audiera (BEAT) |
+26.00% |
$3.43 |
|
SOON (SOON) |
+18.50% |
$0.2787 |
The global cryptocurrency market capitalization stood at $2.22 trillion, following an increase of 1.04% from the previous day.
Read Also:Saylor’s Bitcoin Break Isn’t a Pivot, Expert Says: Here’s the Real Reason Strategy Pressed Pause
Dow Rallies Ahead of Fed Decision
Stocks were a mixed bag on Tuesday. The Dow Jones Industrial Average lifted 537.24 points, or 1.03%, to 52,747.32. The S&P 500 gained 0.21% to end at 7,428.78. The tech-focused Nasdaq Composite was the outlier, sliding 0.22% to settle at 24,876.91.
Tensions in the Middle East flared again after U.S. and Saudi forces launched a joint strike against “Iran-aligned terrorists” accused of trying to mount a “surprise attack” on U.S. forces earlier that day.
— U.S. Central Command (@CENTCOM) July 29, 2026
Investors will also look forward to the Federal Reserve’s decision on Wednesday, with odds around 70% that interest rates will remain unchanged, according to the CME FedWatch tool.
