Bitcoin trades near $65,000 ahead of FOMC amid ETF outflows and geopolitical concerns

Bitcoin traded near the $65,000 mark on Monday ahead of this week's FOMC meeting amid ETF outflows and geopolitical concerns. The cryptocurrency was trading near the $65,336 mark.

In the past 24 hours, Bitcoin and Ethereum were up 1.5% and 4.5% respectively. Among the major altcoins, BNB, XRP, Solana, Tron, Hyperliquid, and Cardano gained up to 2% whereas Dogecoin fell 1%.

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"Bitcoin is showing signs of recovery, trading around the $65,000 mark after successfully holding support above $63,000. However, the rebound remains weak as US spot Bitcoin ETFs ended the week with net outflows, limiting upside momentum," said Akshat Siddhant, Lead quant analyst, Mudrex.

Broader macroeconomic uncertainty and ongoing geopolitical tensions have also kept investors cautious, reducing appetite for risk assets ahead of this week's FOMC meeting, Siddhant further said.

The global crypto market capitalisation went up 1.5% to $2.24 trillion, according to CoinMarketCap. The fear and greed index improved slightly to 37, but market sentiments remain under fear, said CoinDCX Research Team.

Nischal Shetty, founder, WazirX said 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.

Shetty also said that trading activity remains measured as investors assess global monetary policy signals, while institutional participation continues to provide underlying support.

In the past week, Bitcoin and Ethereum were up 2% and 6% respectively. Among the major altcoins, BNB, XRP, Solana, Tron, Dogecoin, and Cardano rallied up to 3% whereas Hyperliquid was down 0.6%.

Riya Sehgal, Research Analyst, Delta Exchange said Bitcoin is consolidating near $65,200 after facing repeated supply around $66,500–$67,000. 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 said.

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Market perspective

CoinSwitch Markets Desk

Bitcoin held above $65K despite the US-Iran conflict, supporting expectations of a relief rally if tensions ease and oil prices continue declining. Holding above $65K keeps the near-term structure constructive, while a sustained break above $66K could open the path towards $67K–$68K. However, the Fed decision and geopolitical developments remain key drivers.

Vikram Subburaj, CEO, Giottus

Bitcoin has travelled a fair distance from its July 1 low of $57,754, gaining nearly 13% to trade around $65,160 on July 27. The final net inflow for the last week was therefore only $33.9 million, which helps explain why Bitcoin has struggled to convert its 13% rebound into a decisive breakout.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)