Bitcoin traded near $63,903 on Thursday, holding steady after the Federal Reserve kept interest rates unchanged at 3.50%-3.75%. Three policymakers pushed for a quarter-point hike, keeping the tone from turning fully dovish. Ethereum, XRP, and Solana remained range-bound, while ETF outflows and a stalled CLARITY Act kept investors cautious.
Bitcoin Price Today
Bitcoin trades at $63,902.66, up 0.01% over the past 24 hours, with a market cap near $1.28 trillion and 24-hour trading volume of $28.33 billion. Price action remains tied to Fed guidance and shifting Bitcoin ETF flow trends.
Analyst Insights
Bitcoin Needs $65,000 to Confirm Recovery
Akshat Siddhant, Lead Quant Analyst at Mudrex, noted that Bitcoin rebounded sharply to $64,700 after the Fed’s decision. US spot Bitcoin ETFs logged a fourth straight day of outflows totaling $526 million this week. Bitcoin now needs to reclaim $65,000 to confirm the recovery, with $63,000 as key support ahead of Friday’s close.
Fed Dissent Keeps September Hike Odds Alive
Vikram Subburaj, CEO of Giottus, placed Bitcoin near $64,150 after the Fed’s steady hold. Markets now price roughly a 57% chance of a September hike. Institutional demand weakened, with spot Bitcoin ETFs recording combined outflows of nearly $526.5 million over four sessions. He advised staggering buying and waiting for Bitcoin to clear $66,700 with stronger spot demand.
Futures Open Interest Hits Two-Month High
The CoinSwitch Markets Desk reported that Bitcoin briefly moved above $64,000 after the Fed decision but dropped back as the Fed Chair held a firm line on inflation. Futures open interest climbed to a two-month high, and positive funding rates suggest many traders expect higher prices. Bitcoin needs to recover above $64,000 to improve momentum; a fall below $63,300 could trigger fresh selling pressure.
CLARITY Act Momentum Offers Long-Term Support
Nischal Shetty, founder of WazirX, said Bitcoin continues trading in a tight range. Developments around the CLARITY Act reinforce long-term adoption optimism. Geopolitical tensions and volatile oil prices keep risk assets on edge, while a softer dollar offers some support. Bitcoin gained 0.50% to $64,186, and Ethereum edged up 0.16% to $1,911.
Oil Spike and Chip Selloff Add Pressure
Piyush Walke, Derivatives Research Analyst at Delta Exchange, noted that the Fed’s steady hold met expectations, but equities sold off on hawkish dissent and a geopolitical shock. Bitcoin dipped near 1% to around $63,890. A selloff in Asian chip stocks and a sharp jump in oil prices added pressure. The $62,700-$63,000 zone marks Bitcoin’s first major demand area; a break lower could open a path toward $62,000.
Crypto Prices Today: Top 10 Coins at a Glance
Biggest Gainers: DOGE, XRP, BNB
- Dogecoin led with a gain above 1.2%, extending its bounce from last week’s lows.
- XRP and BNB also posted solid gains as the Fed’s steady hold eased near-term rate fears.
Biggest Losers: HYPE, ENA, AAVE
- Hyperliquid slipped over 1.5%, leading losses among the top 10 names.
- Ethena and Aave dropped sharply, reflecting weaker demand across mid-cap DeFi tokens.
Crypto News Today: Top Headlines Impacting Prices
Fed Holds Rates Steady With Hawkish Dissent
The Federal Reserve held its benchmark rate at 3.50%-3.75% on Wednesday, matching expectations. Three policymakers pushed for a quarter-point hike. Traders now price roughly 57% odds of a September increase, keeping risk assets cautious.
SEC Chair Backs CLARITY Act Amid Senate Delay
SEC Chairman Paul Atkins publicly backed the CLARITY Act, offering technical help. The bill remains stalled after Senate leadership prioritized other floor business. A vote before the August 7 recess now looks unlikely. Analysts say passage would be the year’s biggest regulatory catalyst.
Bitcoin ETF Outflow Streak Extends to Four Sessions
US spot Bitcoin ETFs recorded a fourth straight day of net outflows, totaling nearly $526 million. BlackRock’s IBIT product led redemptions. The streak follows a strong mid-July run that had briefly restored confidence.
Ethereum ETFs Extend Inflow Streak to Third Week
Ethereum spot ETFs bucked the trend, extending their inflow streak to a third straight week. Morgan Stanley also launched new Ethereum and Solana spot ETPs alongside staking-based funds, adding fresh institutional access points.
Oil Price Spike Adds Fresh Macro Pressure
Asian chip stocks sold off sharply, dragging risk sentiment lower. Oil prices jumped, with WTI and Brent crude climbing. Higher oil prices could feed into upcoming inflation readings, complicating the Fed’s rate path.
Zcash Completes Ironwood Network Upgrade
Zcash activated its Ironwood upgrade, phasing out a shielded pool flagged for security concerns. The upgrade strengthens privacy infrastructure, and Zcash has posted strong weekly gains, outperforming most large-cap tokens.
Investor and Market Outlook
Bitcoin holds near $63,903 as traders weigh the Fed’s steady hold against fragile ETF flows. A close above $66,700 could open a path toward $68,000 resistance. A slip below $62,700 risks exposing deeper support near $61,000. Ethereum trades near $1,900, holding steady after a volatile week. The CLARITY Act’s Senate timeline stands as this month’s defining catalyst for broader market direction.
FAQs
What is the Bitcoin price today?
Bitcoin trades near $63,902.66, up 0.01% over the past 24 hours. Support sits near $62,700, while resistance builds between $65,000 and $66,700.
Why is the Fed decision affecting crypto prices?
The Fed held rates steady, but three policymakers pushed for a hike, keeping September rate-hike odds near 57% and pressuring Bitcoin and altcoins.
What is the biggest crypto news today?
The CLARITY Act’s stalled Senate progress and a fourth day of Bitcoin ETF outflows are shaping sentiment. Ethereum ETF inflows and Morgan Stanley’s new Solana ETP add a contrasting institutional signal.
Which coins are performing best today?
Dogecoin leads with a rise above 1.2%, followed by XRP and BNB. Hyperliquid, Ethena, and Aave post the sharpest losses.
What should investors watch this week?
Track Friday’s month-end close, the CLARITY Act’s Senate timeline, and Bitcoin ETF flow trends. GDP and PCE inflation data due soon could shift rate expectations.
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