Crypto Market Steadies as Bitcoin and Ethereum Gain Ground

The crypto market steadied on July 27 as traders considered positive developments in the Middle East and hopes that falling energy prices may reduce inflation. Bitcoin gained 0.3% to $64,849.77, while Ethereum rose 1.6% to $1,944.54.

Risk appetite improved due to decreasing oil prices and a de-escalation of U.S.-Iran tensions, easing inflation fears. Traders also pared downside hedges ahead of the Federal Reserve meeting, where markets expect rates to remain unchanged.

However, institutional adoption remains fragile, as spot Bitcoin ETF flows had been positive for much of July but saw over $465 million in outflows during the final two days of last week.