Bitcoin price today: little changed near $119k ahead of Fed meet, tariff deadline

Investing.com-- Bitcoin remained rangebound near $119,000 on Tuesday as investors awaited clarity on U.S. trade negotiations and remained cautious ahead of the Federal Reserve’s upcoming policy decision.

The world’s largest cryptocurrency has traded sideways for most of July after hitting a record high above $123,000 earlier this month. 

It was last up 0.3% at $119,010 as of 02:35 ET (06:35 GMT).

Despite the recent pullback, Bitcoin was set for its fourth consecutive monthly rise.

Trump’s Aug 1 tariff deadline nears; Fed decision looms

Markets are awaiting further clarity on ongoing U.S. trade talks with partners ahead of an August 1 deadline, after which Washington is expected to impose additional tariffs if no concrete deals are reached.

Markets are awaiting clarity on ongoing U.S. trade talks with the European Union and China ahead of an August 1 deadline, after which Washington is expected to impose additional tariffs if no concrete deals are reached.

Traders also turned cautious ahead of the Federal Reserve’s policy decision on Wednesday. The U.S. central bank is widely expected to keep interest rates on hold, but investors will be watching closely for any signals on the outlook for monetary policy, especially as inflation remains above the Fed’s 2% target.

Higher-for-longer U.S. interest rates have weighed on speculative assets this year, with traders seeking more clarity on whether the Fed may begin easing later in 2025.

Adding to the cautious mood is a key U.S. Treasury report on cryptocurrency regulation, due for release on July 30. The report is expected to provide more detail on stablecoin oversight, tax policy, and possible enforcement actions, all of which could have significant implications for crypto markets.

Trump-backed Bitcoin ETF decision delayed by SEC

The U.S. Securities and Exchange Commission has delayed its decision on the Truth Social Spot Bitcoin ETF application until Sept. 18, extending the review period beyond its original August 4 deadline.

The delay is part of a broader regulatory stance under new SEC Chair Paul Atkins, who has paused high-profile crypto ETF filings to assess them.

Truth Social’s ETF proposal was submitted in June by Trump Media & Technology Group (NASDAQ:DJT) under the NYSE Arca’s trust framework.

MARA Holdings raises $950mn to buy more Bitcoin

Marathon Digital (NASDAQ:MARA) has completed a larger-than-planned private offering, securing $950 million to expand its Bitcoin holdings.

The Nasdaq-listed miner, which trades under the ticker MARA, initially aimed to raise $850 million but boosted the deal size in response to strong investor demand.

The funds were raised through a private placement of 0% convertible senior notes maturing in 2032, targeted at institutional investors.

Marathon now holds 50,000 BTC—valued at roughly $5.8 billion—making it the second-largest corporate holder of Bitcoin after Strategy, according to data from bitcointreasuries.net.

Crypto price today: altcoins drop; Dogecoin, $TRUMP lead losses

Most altcoins also retreated on Tuesday but saw much sharper losses compared to Bitcoin.

World no.2 crypto Ethereum inched 0.5% higher to $3,866.

World no. 3 crypto XRP slipped 0.6% to $3.16. 

Solana fell 3.9%, while Cardano declined 2.9%, and Polygon dropped 2.3%

Among meme tokens, Dogecoin plunged 4%, while $TRUMP lost more than 4%.

(Additional reporting by Vahid Karaahmetovic.)