Bitcoin rose during the Asian trading session after the Federal Reserve kept interest rates unchanged overnight. Analysts at cryptocurrency platform Bitfinex said that the central bank's decision is seen as beneficial to risky assets and may determine the future direction of Bitcoin. They added that traders are watching to see if spot ETF inflows will resume after the US Federal Open Market Committee meeting and help the cryptocurrency break through the resistance range of $68,000 to $68,500 after a period of de-risking. Despite this, Bitcoin's summer slump continues, and weak intrinsic demand remains its biggest constraint. Strategy, Bitcoin's largest corporate holder, is raising cash for the fifth week in a row instead of buying more Bitcoin. Bitfinex said July is expected to hit the lowest average daily Bitcoin spot trading volume on a monthly basis since November 2023. Bitcoin recently rose 1.2% to $64,236.91.

Bitcoin rose during the Asian trading session after the Federal Reserve kept interest rates unchanged overnight. Analysts at cryptocurrency platform Bitfinex said that the central bank's decision is seen as beneficial to risky assets and may determine the future direction of Bitcoin. They added that traders are watching to see if spot ETF inflows will resume after the US Federal Open Market Committee meeting and help the cryptocurrency break through the resistance range of $68,000 to $68,500 after a period of de-risking. Despite this, Bitcoin's summer slump continues, and weak intrinsic demand remains its biggest constraint. Strategy, Bitcoin's largest corporate holder, is raising cash for the fifth week in a row instead of buying more Bitcoin. Bitfinex said July is expected to hit the lowest average daily Bitcoin spot trading volume on a monthly basis since November 2023. Bitcoin recently rose 1.2% to $64,236.91.