Crypto News Today (July 29): BTC Loses $64K Following FOMC, Tether Expands into Africa, and the US Targets Iran’s Crypto
In crypto news today (July 30), Bitcoin climbed -0.5% overnight, dropping below $64,000 following yesterday’s FOMC meeting, in which a rate hike wasn’t announced but SEC Chair Paul Atkins hinted at hikes to come, causing a slight sell-off across crypto. However, crypto held up well in comparison to the US stock market, which saw $1Bn wiped out overnight.
One glimmer of hope from yesterday came in the form of ETF flows. Bitcoin funds snapped a four-day outflow streak, finishing the day with $32.1M in inflows, with BlackRock buying $89.8M, countering Fidelity selling $43.1M in BTC.
With the total crypto market cap down around -0.5% overnight, it has dropped to $2.27 trillion. Daily trading volume across crypto sits at $63.4Bn, up from yesterday’s figure of around $61Bn.
The Fear & Greed Index is sitting at 28/100, down one point from yesterday, and within ‘Fear’ territory. This lack of movement reflects a market still digesting yesterday’s speech from Paul Atkins at the FOMC meeting before making moves.
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