Bitcoin Rallies as Dollar Softens Ahead of Fed Decision

Bitcoin has gained 0.8% in value to $64,344 according to LSEG data as of July 29, 2026.

The rise comes as the dollar eases ahead of the Federal Reserve's policy decision at 1800 GMT.

Naeem Aslam, a Zaye Capital Markets analyst, notes that while interest rates are expected to remain unchanged, any signals about future rate rises could boost the dollar and real yields, potentially putting pressure on Bitcoin.

Iran's recent ballistic-missile attack on American forces in Jordan may initially have a negative impact on Bitcoin as investors reduce leveraged positions. However, prolonged currency or banking uncertainty can strengthen its appeal as a scarce, decentralized asset, Aslam says.