Bitcoin Flips Tension Ahead of FOMC Regular Meeting

BTC Flips $118,000 Ahead Of Interest Rate Announcement
Altcoin Continues Weak Mid-Day Amid BTC Horizontal Stretch
Cointelegraph "BTC Has Possible Further Rise as It Keeps $115K"

The cryptocurrency market, including Bitcoin(BTC), went sideways on Jul. 30 due to tensions formed ahead of the regular meeting of the Federal Open Market Committee(FOMC) in July.

The U.S. Federal Reserve will hold a FOMC meeting from the 29th to the 30th to set the benchmark interest rate. In particular, Fed Chairman Jerome Powell will hold a press conference on the 30th.

Amid the prevailing expectation that the Fed will freeze interest rates, the market is on high alert and the rise of the cryptocurrency market, including Bitcoin, is being restricted.

As a result, the market was not very shaken by the news that the spot exchange-traded product (ETP) of Bitcoin was approved in the United States. Bitcoin remained around $118,000, and many of the altcoins fell slightly.

◇Bitcoin = Bitcoin price is $118,205 at 4:30 p.m. on Jul. 23, 2025. The Bitcoin share(dominance) was 61.51%.

The long(up) and short(down) betting ratios in the Bitcoin futures market stood at 48.90% and 51.10%, according to the on-chain analytics platform Sigbtc.

Cointelegraph, a media outlet specializing in cryptocurrency, analyzed that investors are under pressure to sell and wait and see. However, it was positively evaluated that Bitcoin remains between $110,000 and $115,000.

"If we maintain this price range, we can expect an upward breakthrough," the media said. "In particular, if sufficient liquidity flows in the range of 112,000 dollars to 115,200 dollars, it can be a catalyst for the next upward trend."

◇Upward Coin = The cryptocurrency that recorded the largest increase from the previous trading day at 4:30 p.m. on Jul. 30 was Quark Chain(QKC), up about 13% on the day alone.

Quark Chain is a project that put forward a P2P transaction system. It was launched with an emphasis on scalability among the problems of blockchain, introducing "sharding" technology and promoting fast data processing. It uses a proof-of-stake work (PoS) consensus algorithm that combines proof-of-stake(PoW) and proof-of-stake work(PoS).

◇Fear Greed Index = Digital asset fear-greed index provided by Alternative has entered the 'greed' phase with 74 points. The Greed phase is a phase where price volatility and trading volume increase, and the price increases. The government should be cautious about selling products as it is highly likely to form a short-term high.

The cryptocurrency relative strength index(RSI) provided by Sigbtc was 50.3, which was in a 'neutral' state. RSI sets the relative strength between the upward and downward pressure of a particular asset price and is an indicator of a measure of over-purchasing and over-selling of a particular asset.

권승원 기자 ksw@blockstreet.co.kr