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24/07/25 23:31 UTC-04

Bitcoin Price Today: Falls Below $116K Ahead of Fed Meeting and Crypto Policy Report

Bitcoin dropped below $116,000 on Friday under pressure from large fund transfers and growing caution ahead of the U.S. Federal Reserve’s meeting, which coincides with the release of a key crypto policy report on July 30.

The world’s largest cryptocurrency was trading 1.8% lower at $115,555.4 as of 08:28 Moscow time.

Bitcoin declined after a consolidation period, having reached an all-time high above $123,000 last week.

Meanwhile, other cryptocurrencies remained subdued on Friday. Altcoins plunged sharply on Thursday but stabilized later during the session.

The upward movement was capped by whale transaction reports and increased profit-taking amid elevated market levels.

Recent movements followed Galaxy Digital (TSX:GLXY) transferring 3,420 bitcoins worth around $395 million to various exchanges in just 20 minutes on Thursday, and sending 250 bitcoins to an unknown wallet, according to Arkham Intel (NASDAQ:INTC).

Fed Meeting and Crypto Policy Report Expected on July 30

Traders are awaiting the upcoming Federal Reserve meeting scheduled for July 30. While the central bank is expected to keep interest rates unchanged, market participants will focus on officials' comments to gauge future policy direction.

Meanwhile, White House crypto advisor Bo Hines announced this week that the President’s Working Group on Digital Assets has completed its long-awaited 180-day crypto policy report, which will be published on July 30.

The report, mandated by a presidential order in January, is expected to detail the amount of seized bitcoin held by the U.S. government and how it may be managed.

Besides the reserve plan, the working group is also expected to propose a comprehensive regulatory framework.

Strategy Ups Equity Offering Plan to $2.8B – Bloomberg

Michael Saylor’s firm Strategy (formerly MicroStrategy (NASDAQ:MSTR)) has significantly increased the size of its planned preferred stock offering, Bloomberg reported on Thursday.

According to the report, Strategy — currently the largest corporate holder of bitcoin — plans to raise the offering from $500 million to $2.8 billion.

The proceeds are expected to be used primarily to expand the company’s bitcoin reserves, which has been a key factor in its valuation over the past year.

Crypto Prices Today: Altcoins Subdued After Volatile Session

Most altcoins posted modest gains on Friday after stabilizing from sharp losses on Thursday.

Ethereum, the world’s second-largest cryptocurrency, rose 1.8% to $3,623.89.

XRP, the third-largest, gained 2.8% to $3.116.

Solana fell by 1.6%, while Cardano added 3.1%, and Polygon increased by 2.8%.

Among meme tokens, Dogecoin dropped by 0.4%, while $TRUMP rose by 1.7%.

See also: "The Current Bitcoin Bull Cycle Has Not Yet Reached Its Peak Levels"

#Bitcoin (BTC) #Price drop

Editor: Alyona Nabok
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