Bitcoin remained above US$65,000 over the weekend as investors prepared for the US Federal Reserve’s upcoming interest-rate decision. The cryptocurrency traded at approximately US$65,177, down around 0.20% over 24 hours, after retreating from a one-month high above US$66,400 reached in the middle of last week.
Markets broadly expect the Federal Reserve to maintain the federal funds rate at 3.50%–3.75%. However, investors will closely analyse Chair Kevin Warsh’s comments regarding inflation, energy prices and the possibility of future rate increases. The policy decision is scheduled for Wednesday in the US, corresponding to early Thursday morning Australian Eastern Standard Time.
BTCUSD (Source: TradingView)
According to media reports, options-market activity indicates that some traders are positioning for further upside. Approximately US$2.5 billion in notional Bitcoin call spreads expiring on 31 July reportedly target a potential move towards US$72,000 following the Fed announcement.
Nevertheless, Bitcoin’s inability to extend its recent rally suggests that investors remain cautious. The Crypto Fear and Greed Index stood at 27, indicating continued fear across the market.
Altcoins outperform Bitcoin
Technically, Bitcoin is showing signs of short-term recovery after rebounding from its June lows. At approximately US$65,177, the cryptocurrency is trading above its 20-day moving average of around US$64,443 and marginally above its 50-day moving average of approximately US$65,038. This indicates improving near-term momentum.
However, Bitcoin remains below its declining 100-day and 200-day moving averages of approximately US$67,720 and US$73,427, respectively, suggesting that the broader trend has yet to turn decisively bullish. The RSI stands near 54, reflecting neutral-to-positive momentum, while the MACD remains relatively flat.
A sustained breakout above US$67,700 could open the way towards US$72,000–US$73,400. On the downside, immediate support is located around US$64,400, followed by the psychologically important US$60,000 level.
Altcoins outperform Bitcoin
On 26 July 2026, several major altcoins recorded stronger gains. Ether advanced 4.26% to US$1,954.72, while XRP rose 1.38% to US$1.1121. BNB gained 1.12%, while Solana (SOL/USD) and Dogecoin increased by 3.06% and 1.53%, respectively.
According to the some media sources, Shiba Inu was among the strongest performers, surging 36% to US$0.0000057 and adding nearly US$1 billion in market capitalisation. The rally appeared to be supported by strong South Korean trading activity despite the absence of a clear project-specific announcement.
Tokenisation activity also continued to expand. Robinhood Chain’s tokenised real-world assets reportedly increased approximately fivefold to US$70 million, while its tokenised equities generated around US$55 million in daily trading volume.
Regulatory developments remain another area of focus. The European Union has added crypto exchange HTX to its latest Russia-related sanctions measures, with transaction restrictions for EU businesses and residents scheduled to begin on 23 August. Meanwhile, US crypto advocates continue to push for progress on the CLARITY Act, which seeks to divide digital-asset regulatory responsibilities between the SEC and CFTC.
For Australian crypto investors, the Fed’s policy guidance, movements in the US dollar and broader global risk sentiment are likely to remain the main drivers of near-term volatility.
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