Bitcoin Bounces Back to $64,400 After Fed Decision Eases Market Jitters

Bitcoin saw significant price swings on July 29 as global markets reacted to a surprise Iranian strike on a U.S. military base in Jordan and the Federal Reserve's decision to hold interest rates.

The top cryptocurrency briefly surged to $64,500 before pulling back to $63,700, ending down 0.6% on the day with its market cap holding at $1.277 trillion.

Coinglass data showed nearly $310 million in crypto liquidations as crude oil spiked past $90 a barrel.

The Federal Reserve's decision to hold interest rates steady at 3.5% to 3.75% was widely anticipated, but it still provided some relief to the market, allowing bitcoin to jump back up to $64,400 before settling around $64,200.