Bitcoin price today: near $119k after trade cheer; Fed, crypto report eyed

Investing.com-- Bitcoin remained near the $119,000 level on Monday after a modest rebound from two-week lows in weekend trading, as the U.S.–EU trade pact bolstered investor risk appetite.

However, the cryptocurrency continues to trade in a range amid caution ahead of this week’s Federal Reserve decision and a key U.S. crypto policy report due July 30.

Bitcoin was last quoted at $118,850, up about 0.5% as of 09:17 ET (13:17 GMT).

Meanwhile, other cryptocurrencies saw sharper gains with Ether trading at a seven-week high.

U.S. Fed meeting, crypto policy report due July 30

Markets took comfort from the U.S.–EU framework agreement announced Sunday. The pact imposes a 15% tariff on European imports, down from the threatened 30%, and includes commitments for the EU to purchase $750 billion of U.S. energy and invest hundreds of billions in arms and infrastructure.

The deal reduced political risk and trade uncertainty. This improved sentiment led investors away from safe-haven assets into riskier ones, including equities and Bitcoin.

Attention now turns to the Federal Reserve’s two-day meeting ending on Wednesday. The central bank is widely expected to hold its benchmark rate at 4.25%–4.50%. Traders will focus on commentary around possible rate cuts later in the year. 

A dovish tone could further support bitcoin by reducing returns on low-yield safe assets.

The U.S. crypto policy report, scheduled for release on July 30, is another key event. It is expected to outline plans for a strategic Bitcoin reserve and provide greater regulatory clarity for sectors including stablecoins.

Clearer guidelines are seen as boosting institutional confidence in the crypto market. Despite the uptick, bitcoin remained in a narrow trading band reflecting caution ahead of policy catalysts. 

While trade optimism encourages risk-taking, broader macro risks and Fed guidance continue to restrain aggressive price moves.

Ethereum ETF inflows hit $7.8 billion, topping 2024 levels

Crypto investment products saw $1.9 billion in inflows last week, marking the 15th consecutive week of gains, according to CoinShares. July inflows have now hit a record $11.2 billion, surpassing the previous monthly high of $7.6 billion set after the U.S. election in December 2024.

Ethereum led for the second week in a row, attracting $1.59 billion—its second-largest weekly inflow—and pushing year-to-date totals to $7.79 billion, already exceeding its full-year 2024 figure.

In contrast, Bitcoin funds saw $175 million in outflows despite strong market performance. Still, BTC products remain ahead in both monthly and year-to-date flows.

Crypto price today: altcoins muted, Ether still at 7-mth high

Most altcoins also remained muted on Monday following the weekend rally.

World no.2 crypto Ether climbed 1% to $3,857.22, its highest level since mid-December 2024.

World no. 3 crypto XRP remained little changed at $3.20. Solana gained 2.5%, while Cardano added 0.1%, and Polygon slipped 0.6%.

Among meme tokens, Dogecoin edged higher 0.4%, while $TRUMP traded flat. 

(Additional reporting by Vahid Karaahmetovic.)