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Bitcoin Drops Below $64,000 as Treasury Yields Pressure Crypto Market

Bitcoin Drops Below $64,000 as Treasury Yields Pressure Crypto Market

ETF outflows and cautious investor sentiment kept Bitcoin’s recovery in check.

Written by Rahul Dhingra, Edited by Rohan Pal | Updated: 28 July 2026 13:54 IST

Bitcoin Drops Below $64,000 as Treasury Yields Pressure Crypto Market

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Ethereum outperformed Bitcoin as selective buying emerged across major cryptocurrencies

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Highlights

Treasury yields dampen appetite for risk assets
ETF outflows slow Bitcoin’s recovery
Long-term holders continue to hold positions

Bitcoin traded near $63,500 (roughly Rs. 60.82 lakh) on Tuesday as the cryptocurrency market came under pressure ahead of the US Federal Reserve's policy announcement, with investors reducing exposure to risk assets amidst rising Treasury yields. The world's largest cryptocurrency declined by 2.85 percent in the 24 hours, based on today's CoinMarketCap data. Ethereum (ETH) was trading near $1,883 (roughly Rs. 1.80 lakh), reflecting weakness across the broader crypto market. Bitcoin is currently priced around Rs. 60.82 lakh in India, while Ethereum trades near Rs. 1.80 lakh, as per today's Gadgets 360 price tracker.

According to market participants, Bitcoin remained under pressure as investors turned cautious ahead of the Federal Reserve's policy guidance. Analysts also said that weakening spot Bitcoin ETF demand and expectations around upcoming US GDP and inflation data have also limited buying momentum, even as long-term on-chain indicators remain supportive.

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Major altcoins also traded lower on Tuesday, broadly mirroring Bitcoin's weakness. Binance Coin (BNB) was priced around $564.31 (roughly Rs. 54,050), while Solana (SOL) traded near $73.33 (roughly Rs. 7,024). XRP hovered around $1.05 (roughly Rs. 101), and Dogecoin (DOGE) traded near $0.070 (roughly Rs. 6.7), indicating cautious sentiment among large-cap cryptocurrencies.

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Fed Guidance in Focus as Bitcoin Tests Key Support

Sharing his assessment of current market conditions, Akshat Siddhant, Lead Quant Analyst at Mudrex, said, “Markets are now focused on the Fed's policy guidance, which is expected to set the tone for crypto in the near term. If the central bank pauses and signals a softer policy outlook, Bitcoin could recover toward the $66,000-$68,000 (roughly Rs. 63.21 lakh-Rs. 65.13 lakh) range. A more hawkish stance, however, could see the price retest support near $61,000 (roughly Rs. 58.43 lakh).”

Providing a broader market outlook, Vikram Subburaj, CEO, Giottus.com, said, “In the last two sessions, these ETFs have recorded net outflows. This has led to profit-booking near the resistance level. Investors are also staying cautious ahead of the US Federal Reserve's policy decision. They are closely watching upcoming US GDP and inflation data [...] Investors should avoid chasing short-term rallies and instead adopt staggered accumulation with disciplined risk management until macro uncertainty eases.”

Commenting on the latest market trends, the CoinSwitch Markets Desk said, “BTC and ETH have outperformed equities in July, gaining approximately 11.6 percent and 24.6 percent, respectively. BTC also held above its 21-day and 50-day moving averages near $64,300 (roughly Rs. 61.5 lakh) and $63,300 (roughly Rs. 60.6 lakh), preserving short-term support.”

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Overall, analysts said the cryptocurrency market remains cautious ahead of the US Federal Reserve's policy decision, with elevated Treasury yields and weakening ETF demand limiting risk appetite. However, constructive on-chain indicators and Bitcoin's ability to defend key support levels could help shape the market's next move once the central bank's policy outlook becomes clearer.

Bitcoin Holds Above $65,000 Ahead of Key Fed Reserve Decision

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be. It does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Further reading: Cryptocurrency, Bitcoin, Ethereum, Crypto Markets, Crypto Prices

Rahul Dhingra

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Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More