The cryptocurrency market experiences a decline as Bitcoin remains stable at $118,000, while altcoins suffer significant losses ahead of the Federal Reserve's interest rate decision.
The crypto market is down on July 30, with Bitcoin holding at $118,000 and altcoins like Conflux and Bonk experiencing substantial declines. The downturn follows strong U.S. economic data, with 104,000 jobs added in July, raising concerns about a hawkish Federal Reserve stance. Additionally, trade tensions are escalating as the U.S. plans to impose tariffs on India and other countries. Despite the current pullback, there are indications of a potential rebound in the crypto market, fueled by rising demand for crypto ETFs and bullish patterns forming in Bitcoin's price action.