Bitcoin Drops Below $65,000 as Market Sentiment Turns Cautious
Bitcoin's price fell below $65,000 on July 28, 2026, after a brief recovery failed to attract enough buyers. The price dropped by around 3.5% over 24 hours, reaching a low of approximately $62,700.
The decline was caused by several factors, including weaker ETF demand, caution before the Federal Reserve meeting, falling global technology stocks, and liquidations. These overlapping pressures explain why Bitcoin's price is falling, but they do not mean that a recovery above $65,000 is impossible.
Market sentiment turned cautious as investors became more risk-averse in anticipation of the Fed's policy decision. This led to a decline in market activity, with spot Bitcoin ETFs recording net outflows of $11.6 million on July 27. Corporate buying also provided little support, with Strategy reportedly not adding to its holdings for a third week.
The wider financial environment made Bitcoin less attractive due to the strengthening US dollar and higher interest rates. This reduced demand for volatile investments like Bitcoin, which does not pay interest. The price drop was further exacerbated by stop-loss orders and liquidations, which increased the size of the move.