Bitcoin price today: Bitcoin traded higher on Thursday, after the US Federal Reserve kept interest rates unchanged but delivered a more hawkish-than-expected policy outcome, prompting investors to reassess the outlook for risk assets.
Bitcoin was trading at around $64,400 on the morning of July 30 after the US dollar and benchmark 10-year Treasury yields strengthened following the Federal Reserve’s policy decision.
The US Federal Reserve kept the federal funds rate unchanged at 3.5%-3.75% for the fifth consecutive meeting on July 29. However, the policy outcome was viewed as relatively hawkish after three of the 12 policymakers dissented in favour of a 25-basis-point rate hike. Fed Chairman Kevin Warsh reaffirmed the central bank’s commitment to bringing inflation back to its 2% target, while markets have begun pricing in the possibility of a rate increase at the September policy meeting.
Geopolitical developments also added to investor caution. The US military launched fresh strikes on Iran on Wednesday (local time), its first attacks since July 24, in retaliation for an Iranian missile strike on a US base in Jordan a day earlier. The renewed conflict pushed crude oil prices back toward $90 a barrel, intensifying concerns over inflation and reinforcing expectations that higher interest rates could persist for longer.
US Fed decision and its impact
According to Piyush Walke, Derivatives Research Analyst at Delta Exchange, the Fed’s decision was largely in line with expectations, but crypto markets struggled as investors reacted to a combination of hawkish policy signals, weakness in global equities and escalating geopolitical risks.
“The Federal Reserve held interest rates steady at 3.5%-3.75% on Wednesday, meeting near-universal market expectations and leaving crypto markets to digest a muted response even as equities sold off on a combination of hawkish dissent and a geopolitical shock,” Walke said.
Walke noted that Bitcoin fell around 1% to $63,890 after the Fed announcement, while Ethereum declined by a similar margin to trade just above $1,900. He attributed the weakness to a broader selloff in risk assets, led by declines in Asian semiconductor stocks amid concerns over debt levels at major chipmakers and AI companies.
He added that oil prices surged, with WTI crude rising 7.6% and Brent crude gaining 5.4%, increasing the risk of higher consumer inflation and influencing expectations around future interest rate decisions.
Meanwhile, Harish Vatnani, Head of Trade at ZebPay, said investors remain focused on the inflationary impact of rising energy prices, as any sustained increase in oil prices due to Middle East tensions could strengthen the case for tighter monetary policy.
He also noted that although the Fed left rates unchanged, policymakers signalled that further action remains possible if inflation remains elevated. According to Vatnani, investors are now looking closely at Chairman Warsh’s comments for additional policy guidance.
Interestingly, Bitcoin has shown relative resilience compared with Asian technology stocks over the past week. Major chipmakers have witnessed sharp declines, but Bitcoin has not mirrored the magnitude of those losses. According to a CoinDesk report published on July 29, South Korea’s Kospi index, heavily exposed to Samsung Electronics and SK Hynix, has fallen sharply as investors question whether current AI infrastructure spending can be sustained.
Bitcoin outlook: Key levels to watch
Analysts believe Bitcoin now faces an important technical test as investors assess the combined impact of monetary policy, inflation risks and geopolitical uncertainty.
Akshat Siddhant, Lead Quant Analyst at Mudrex, said Bitcoin rebounded to around $64,700 after the Fed maintained interest rates, while the decision also improved broader risk sentiment and lifted gold closer to $4,100 from around $4,000.
However, Siddhant pointed out that institutional participation remains mixed. “With major market triggers out of the way, Bitcoin now needs to reclaim $65,000 to strengthen the recovery, with $63,000 remaining the key support ahead of Friday’s monthly close,” Siddhant said.
Meanwhile, Walke identified the $62,700-$63,000 zone as Bitcoin’s first major support area, warning that a sustained move below this range could expose the cryptocurrency to declines toward $62,000, followed by the broader $61,300-$61,900 support region. He sees immediate resistance between $65,400 and $65,700. For Ethereum, he said the cryptocurrency is approaching key support around $1,860 after failing to sustain gains in the $1,960-$1,980 range and is currently moving sideways between $1,880 and $1,930.
Vatnani also believes Bitcoin remains technically neutral after failing to sustain gains above $66,000-$67,000 earlier this month. Despite its recent rebound, the cryptocurrency continues to trade nearly 50% below its October 2025 record high above $126,000. He said the 14-day Relative Strength Index (RSI) remains close to 51, while longer-term moving averages continue to act as resistance. According to him, key support lies between $62,500 and $63,300, while resistance is clustered around $64,500-$65,000, followed by a stronger resistance zone between $66,800 and $67,000.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
