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.
| Cryptocurrency | 24-Hour Gains +/- | Price (Recorded at 9:25 p.m. EDT) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | +1.01% | $63,842.10 |
|
Ethereum (CRYPTO: ETH) |
+2.16% | $1,913.42 |
| XRP (CRYPTO: XRP) | +1.87% | $1.07 |
| Solana (CRYPTO: SOL) | +0.79% | $73.67 |
| Dogecoin (CRYPTO: DOGE) | +1.72% | $0.07071 |
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.
Wait for Bitcoin’s Bullish Trend to Go Longer?
Ali Martinez, a widely followed cryptocurrency analyst and trader, projected Bitcoin’s “next major market bottom” may arrive in the first half of October, assuming the four-year cycle theory remains valid.
Mark your calendar!
— Ali Charts (@alicharts) July 28, 2026
If the 4-year cycle theory holds, Bitcoin $BTC could put in its next major market bottom between October 6 and October 16. https://t.co/SxJ0w63Dgc pic.twitter.com/DADthMjISg
On-chain analytics firm CryptoQuant noted a sharp decline in Bitcoin spot volumes on major exchanges compared to late 2024, with the U.S.-Iran war and equity markets absorbing much of the available liquidity.
“Against this backdrop, a return of Bitcoin to a bullish trend seems conditional on a shift in the macro regime, and above all a return of demand, the only real driver capable of pushing volumes back up,” the research firm said.
Bitcoin Volumes Collapse 75% From Late 2024 Peak, Lowest Since 2023 Bear Market
— CryptoQuant.com (@cryptoquant_com) July 28, 2026
"Against this backdrop, a return of Bitcoin to a bullish trend seems conditional on a shift in the macro regime, and above all, a return of demand." – By @Darkfost_Coc pic.twitter.com/uCTOGRUz61
Read Also: 'If $1,700s Come Again, Double Down': ETH Is the Better Bet Over BTC, Analyst States
Photo: KateStock / Shutterstock
