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
Bitcoinrallied 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, withStrategy 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, accordingto the Crypto Fear & Greed Index.
Cryptocurrency (Market Cap>$100 M) | Price (Recorded at 9:25 p.m. EDT) | |
The global cryptocurrency market capitalization stood at $2.22 trillion, following an increase of 1.04% from the previous day.
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Dow Rallies Ahead of Fed Decision
Stocks were a mixed bag on Tuesday. The Dow Jones Industrial Averagelifted 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, accordingto the CME FedWatch tool.
