Bitcoin has consolidated near $65,336 on Monday ahead of this week's FOMC meeting, showing resilience despite ongoing ETF outflows and geopolitical concerns. In the past 24 hours, Bitcoin and Ethereum were up 1.5% and 4.5% respectively, with broader altcoins also participating in the recovery. Among the major altcoins, BNB, XRP, Solana, Tron, Hyperliquid, and Cardano gained up to 2%, while Dogecoin fell 1%. The global crypto market capitalization went up 1.5% to $2.24 trillion, according to CoinMarketCap, with the fear and greed index improving slightly to 37 despite market sentiment remaining under fear. Nischal Shetty, founder of WazirX, noted that crypto markets began the week on a steady footing, with Bitcoin trading around $65,100 and Ethereum hovering near $1,944, reflecting cautious optimism despite persistent macroeconomic uncertainty.
The ETF outflows were driven by concerns that the US Federal Reserve could raise interest rates, overshadowing recent momentum behind the Clarity Act, a long-awaited US cryptocurrency market-structure bill. US initial claims for state jobless benefits dropped by 22,000 to 187,000 for the week ending July 18, the lowest level since September 1969, with the CME FedWatch tool now putting the odds of a Federal Reserve rate hike at 33.7% for the July 29 meeting, up from 11.8% a week earlier. Ethics provisions remain a key point of disagreement over the Clarity Act, as lawmakers seek to secure enough Democratic votes before the August recess, with Democrats demanding tougher language to prevent President Donald Trump from profiting off the crypto industry his administration regulates. Ivan Lim, a senior derivatives trader at FalconX, noted that the recent Bitcoin ETF outflows and fragile mood are largely a reaction to legislative waiting around the Clarity Act and faster Fed rate hike expectations, while Rachael Lucas from BTC Markets emphasized that the next couple of sessions are crucial, with stabilizing flows pointing to an event-driven pause but a second week of outflows would be more serious.
The total crypto market cap has shown mixed performance, with the global crypto market capitalization up 1.5% to $2.24 trillion, according to CoinMarketCap data. In the past week, Bitcoin and Ethereum were up 2% and 6% respectively, with among the major altcoins, BNB, XRP, Solana, Tron, Dogecoin, and Cardano rallying up to 3%, while Hyperliquid was down 0.6%. Broader macroeconomic uncertainty and ongoing geopolitical tensions have kept investors cautious, reducing appetite for risk assets ahead of this week's FOMC meeting, as noted by market experts. Some BTC treasury firms were abandoning their accumulation model and actively looking to liquidate and completely exit crypto treasury strategies, as reported by AMBCrypto. Shifting developments in the Middle East have added to Bitcoin's volatility in recent days, with the original cryptocurrency climbing back above $65,000 in early Asia trading Monday, rising as much as 1.4% alongside other risk assets.
Bitcoin is consolidating near $65,200 after facing repeated supply around $66,500–$67,000, according to Riya Sehgal, Research Analyst at Delta Exchange. Its 4-hour structure remains moderately bullish, with price trading above the major moving averages. Ethereum is outperforming near $1,940, reflecting improving risk appetite across the broader crypto market, while ETF participation and reduced long-term-holder selling remain constructive, Sehgal further noted. The one-week CoinGlass liquidation heatmap places the nearest large pool of leveraged positions around $64,200–$64,500, with another dense cluster near $63,500. The bulls tried and failed to challenge the $67k resistance zone convincingly, with the recent downturn being a result of buyer exhaustion and the prevalent bearish price structure. If the current trend continues, the next impulse move downward could open the door to a retest of the $57,800 area if sellers remain in control.
