Bitcoin Teeters Ahead of Fed Rate Decision as ETF Outflows Worsen

Bitcoin's price has been wavering ahead of the Federal Reserve's rate decision on July 29, 2026. The cryptocurrency initially traded above $64,000, only to slip down toward $62,714 as traders trimmed their positions in anticipation of the Fed's move.

Leveraged liquidations, spot ETF outflows, and rate worries have added pressure to Bitcoin's price, leading traders to wait on the policy call and comments from Kevin Warsh. The Fed started its two-day meeting on July 28, with a decision due on Wednesday.

A stable rate would likely calm markets down, but Warsh's comments could still stir up volatility either way. If history rhymes, a death cross on the weekly chart, marked by the 50-day moving average crossing below the 100-day moving average, could pull BTC toward the $45,000 to $48,000 zone.

Some traders believe that if the 4-year cycle theory still applies, Bitcoin's next major bottom could be between October 6 and October 16, 2026. Meanwhile, a falling wedge-like pattern on the BTC chart suggests a bullish breakout could open the door to a bull move, with analyst Javon Marks' first target sitting near $116,000.