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Bitcoin Holds Above $64,000 as ETF Outflows Weigh on Crypto Sentiment

Bitcoin Holds Above $64,000 as ETF Outflows Weigh on Crypto Sentiment

Whale accumulation and key support levels offered resilience despite weakening institutional demand.

Written by Rahul Dhingra, Edited by Rohan Pal | Updated: 29 July 2026 14:12 IST

Bitcoin Holds Above $64,000 as ETF Outflows Weigh on Crypto Sentiment

Photo Credit: Unsplash/Jievani Weerasinghe

Major cryptocurrencies traded mixed as investors awaited fresh signals from the US Federal Reserve

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Highlights

Whale wallets accumulated nearly 20,000 BTC
ETF outflows continued to weigh on sentiment
Fed guidance remains crypto’s key catalyst

Bitcoin traded near $64,300 (roughly Rs. 61.58 lakh) on Wednesday as the cryptocurrency market steadied after recovering from an intraday dip, while investors remained cautious ahead of the US Federal Reserve's policy decision. The world's largest cryptocurrency rose by 1.42 percent in the last 24 hours, based on today's CoinMarketCap data. Ethereum (ETH) was trading near $1,900 (roughly Rs. 1.83 lakh), reflecting modest gains across the broader crypto market. Bitcoin is currently priced around Rs. 61.58 lakh in India, while Ethereum trades near Rs. 1.83 lakh, as per today's Gadgets 360 price tracker.

According to market participants, continued outflows from US spot Bitcoin ETFs, uncertainty surrounding the Federal Reserve's interest rate decision, and broader macroeconomic risks have kept investors cautious despite signs of long-term accumulation by whale wallets.

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Major altcoins traded with mixed momentum on Wednesday, broadly tracking Bitcoin's recovery. Binance Coin (BNB) was priced around $570.10 (roughly Rs. 54,540), while Solana (SOL) traded near $73.95 (roughly Rs. 7,075). XRP hovered around $1.08 (roughly Rs. 103), and Dogecoin (DOGE) was trading close to $0.071 (roughly Rs. 6.8), indicating selective buying across large-cap cryptocurrencies.

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Fed Decision Keeps Crypto Investors on the Sidelines

Sharing his assessment of current market conditions, Akshat Siddhant, Lead Quant Analyst at Mudrex, said, “The correction led to more than $510 million (roughly Rs. 4,879 crore) in liquidations, while continued outflows from US spot Bitcoin ETFs added to the cautious sentiment. Uncertainty over the Federal Reserve's interest rate is also keeping investors on the sidelines. However, long-term confidence remains visible, with whale wallets accumulating 19,696 BTC over the past eight days.”

Providing a broader market outlook, Vikram Subburaj, CEO, Giottus.com, said, “Most analysts expect rates to remain at 3.50 percent-3.75 percent, but markets still see a roughly 33 percent probability of a quarter-point increase. Higher oil prices and renewed geopolitical tensions could also keep the Fed's guidance hawkish [...] Investors should avoid large directional positions around the Fed decision.”

Commenting on the latest market trends, the CoinSwitch Markets Desk said, “BTC briefly fell as a sharp sell-off in Asian equities and the Senate's delay of the CLARITY Act weighed on market sentiment. Near-term price action will likely be driven by the Fed's policy decision and commentary, alongside core PCE inflation, second-quarter GDP data and earnings from major technology companies.”

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Overall, analysts said Bitcoin remains vulnerable to macroeconomic uncertainty and weakening institutional demand ahead of the US Federal Reserve's policy decision. However, continued whale accumulation, key support near $63,000 (roughly Rs. 60.27 lakh), and the Fed's policy guidance are expected to determine whether the cryptocurrency can reclaim $65,000 (roughly Rs. 62.18 lakh) and extend its recovery.

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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 and 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: Crypto markets, Crypto Prices, Cryptocurrency, Bitcoin, Ethereum

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