Slowdown in crypto markets ahead of Fed rate decision and US Crypto Report
📉 Market pause - Ethereum and altcoins slow down while bitcoin trades sideways ahead of major US announcements
📊 DeFi momentum: Total value locked (TVL) in DeFi hits a 3-year high
📝 Fed watch - Rate decision expected tomorrow, with investors focused on Powell’s comments and Trump’s response.
📁 Crypto report drop - The US government’s highly anticipated crypto report could shape market sentiment this week.
Crypto markets are taking a breather this morning as Ethereum and altcoins slow down, while Bitcoin continues to move sideways. The upcoming Federal Reserve rate decision on Wednesday, and the much-anticipated US Crypto Report due the same day, could be keeping investors on the sidelines as they wait to see the stakes before making any big moves. The Fear and Greed Index remains in “Greed” territory, despite some sharp pullbacks earlier today.
Zooming out, DeFi had a strong month, with total value locked (TVL) rising to a three-year high. TVL measures the amount of capital locked in DeFi protocols, such as lending platforms, decentralised exchanges, and yield farms, and is widely seen as an indicator of overall ecosystem activity and investor confidence.
All eyes are on tomorrow’s Fed meeting, not so much for the rate outcome, which is broadly expected to remain unchanged, but for any clues from Chair Jerome Powell on the path forward. Market watchers are also keeping tabs on President Trump’s reactions, especially given the recent friction between the Fed and the White House over monetary policy. Investors will also be fine-combing the long-hyped US Crypto Report, expected to be published tomorrow. It’s shaping up to be another eventful week for crypto and the broader financial markets.
In the markets…
🌍 Total crypto market cap ↗️
The global crypto market cap is approximately $3.94 trillion, up 0.9% over the past 24 hours.
🟠 Bitcoin (BTC) ↘️
Price: $118,827, down 0.09% in the last 24 h
Daily high: $119,011
Daily low: $117,498
📈 S&P 500 ↗️
SPY is currently up about 0.018% since yesterday’s close.
🥳 Fear & Greed Index
The Crypto Fear & Greed Index stands at 63/100, indicating Greed among investors.
📊 Bitcoin Relative Strength Index (RSI) (14)
The 14-day RSI for BTC is approximately 57, in neutral territory.
Data is accurate as at 07:43 GMT, 29 July.
Cautionary Notes
It's definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.
