# Bitcoin Weakens in Asia Trading as Fed Rate Decision Looms — retained record

> Retained news record from news:india-mint-markets.

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source: [news](https://highsignal.app/data/news) (news:india-mint-markets)  published 2026-07-28 01:21 ingested 2026-07-28 08:22

[original source ↗](https://www.livemint.com/market/bitcoin-weakens-in-asia-trading-as-fed-rate-decision-looms-11785201719389.html)

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(Bloomberg) -- Bitcoin declined in early Asia trading on Tuesday as investors fretted about the prospect of higher interest rates.The largest cryptocurrency fell as much as 2.3% to $63,414 by 9 a.m. in Singapore, its lowest level in 11 days. Second-largest token Ether was down 3.6%.Citadel Securities expects the US Federal Reserve to raise rates by a quarter percentage point on Wednesday, a surprise move that it said would strengthen Chairman Kevin Warsh’s credibility in the battle with inflation. Traders see a roughly one-in-three chance of a rate hike. Rising borrowing costs tend to drive investors away from risk assets such as cryptocurrencies.“Bitcoin is mainly getting hit by the rising probability of a Fed hike, as well as macro concerns about AI-related credit risks,” said Caroline Mauron, co-founder Orbit Markets. “The next level to watch on the downside is $62,000, with strong support expected around $60,000.”Bitcoin has been making modest gains over the past month amid hopes it has found a floor after crashing around 50% from a record $126,000 in October. But heavy outflows from US-listed Bitcoin exchange-traded funds late last week underscore the fragility of its recent recovery. The ETFs saw more than $465 million of outflows on July 23 and July 24, snapping a seven-session inflow streak.Rate-hike concerns are overshadowing recent momentum behind the Clarity Act, a long-awaited US cryptocurrency market-structure bill.“We are currently holding a neutral bias on Bitcoin,” said Tony Sycamore, an analyst at IG Australia. “A sustained break and close above the 200-day moving average (currently at $72,001) is still needed to negate medium-term downside risks, bring a buzz back to Bitcoin and to allow a more constructive technical picture to emerge.”More stories like this are available on bloomberg.com©2026 Bloomberg L.P.
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