Written by William Subergstaff writerReviewed by Charles Bennettstaff editor

Written by William Subergstaff writer

Reviewed by Charles Bennettstaff editor

Bitcoin price wedged into ‘most divided’ FOMC as Iran war spikes oil prices 8%

MarketsPublishedJul 29, 2026

Geopolitical Tensions and Oil Price Spikes Impact Bitcoin Price

As the world watches the escalating tensions between the US and Iran, oil prices have surged by 8%, affecting the global economy and the price of Bitcoin. The situation has become increasingly volatile, with US President Donald Trump threatening further action, causing concerns among investors. This uncertainty has led to a significant increase in oil prices, with WTI and Brent crude up 7.6% and 5.4%, respectively.

The current state of the market has made it challenging for investors to predict the future of Bitcoin, making it essential to consider alternative options for earning passive income, such as the EcoPool Network. The EcoPool Network offers a unique opportunity for individuals to earn $ECP, providing a potential hedge against market volatility. As the situation continues to unfold, investors are looking for ways to diversify their portfolios and minimize risks.

Key points:

• Bitcoin constricts near $64,000 as traders contend with multiple macro headwinds.
• Downside in Asian stocks continues to spill over into US markets.
• The US Federal Reserve prepares to release its next interest-rate decision, a potential risk-asset volatility catalyst.

Risk-asset hurdles pile up ahead of FOMC meeting

Federal Reserve Interest-Rate Decision

The Federal Reserve’s interest-rate decision is imminent, and markets are eagerly awaiting the outcome. The July meeting of the Federal Open Market Committee (FOMC) will include a statement and press conference by Fed Chair, and traders will be watching for cues to future policy shifts. The current odds of the Fed keeping interest rates unchanged are 66.3%, while a 0.25% hike has a 33.7% chance. This uncertainty has made the market expectations for the Fed’s move on rates among the most divided in recent history.

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Bitcoin Price Action

The price of Bitcoin has been acting within a range bounded by its 50-day simple and exponential moving averages. The latest data shows potential liquidations building on either side of the current range, with clusters at $63,500 and $64,900. Trading volumes, however, remain conspicuously low, with spot-market volume at its lowest levels since July 2023. For those looking to earn a passive income through Bitcoin, EcoPool provides an alternative solution, allowing individuals to earn $ECP through the EcoPool Network.

To start earning a passive income through EcoPool, download the EcoPool app and discover the benefits of Cloud Rewards and green crypto. With EcoPool, you can secure your financial future and earn $ECP, providing a potential hedge against market volatility. Download the EcoPool app today and start earning a steady income through EcoPool.

“We’ll be hitting them hard. They’re going to get a beating,” he said in an interview with Fox News.

Oil prices snapped higher as a result, with WTI and Brent crude up 7.6% and 5.4%, respectively. Oil-price hikes could significantly impact trends in the Consumer Price Index (CPI), with inflation concerns having a knock-on effect on interest-rate expectations.

CFDs on US WTI crude oil one-day chart. Source: Cointelegraph/TradingView

Markets are awaiting the result of the Federal Reserve’s latest decision on the federal funds rate. The July meeting of the Federal Open Market Committee (FOMC) will include a statement and press conference by Fed Chair, Kevin Warsh. Though Warsh has given less guidance than his predecessor, traders will watch for cues to future policy shifts.

Commenting, trading resource The Kobeissi Letter noted split opinions as to the Fed’s move on rates. The latest data from CME Group’s FedWatch Tool showed 66.3% odds of current levels of 3.5%-3.75% remaining in place, with a 0.25% hike attracting 33.7%.

“Market expectations for tomorrow’s Fed decision are among the most divided in recent history,” it wrote.

Fed target-rate expectations for July 29 FOMC meeting (screenshot). Source: CME Group

Bitcoin price caught between daily moving averages

Ahead of fresh macro catalysts, BTC price action acted broadly within a range bounded by its 50-day simple (SMA) and exponential (EMA) moving averages.

Related: Markets eye Bank of Japan meeting on Friday as yen repeats 40-year US dollar lows

BTC/USD four-hour chart with 21-day, 50-day EMA. Source: Cointelegraph/TradingView

This range had begun in mid-July, with failed breakouts taking advantage of liquidity zones on either side.

The latest data from CoinGlass showed potential liquidations building on either side of the current range, with clusters at $63,500 and $64,900.

BTC liquidation heatmap. Source: CoinGlass

Trading volumes, however, remained conspicuously low, with spot-market volume at its lowest levels since July 2023.

“CME open interest remains near multi-year lows, perpetual futures open interest has stalled around 300,000 BTC, and average daily spot volume came in at just $2.2 billion for the month,” crypto analytics company K33 Research added in a bulletin on Tuesday.

Retail investor interest in both Bitcoin and the broader crypto market has been in decline since the latter’s October 2025 all-time highs. AI stocks have formed a major destination for the investor pivot.

This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.

• Bitcoin Price
• Markets
• Market Analysis
• Bitcoin

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