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Bitcoin nears $60K as July Fed meeting may decide if recovery or further drop follows

Market News
10 Jul 2026
Crypto news
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Neutral
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Bitcoin closed the first half of 2026 near $60,000 after falling from over $93,000 in January, driven mainly by Federal Reserve policies and record outflows from Bitcoin ETFs rather than crypto-specific issues. The upcoming Fed meeting on July 28-29 is expected to be pivotal, with markets largely pricing in steady rates but wary of hawkish signals that could push Bitcoin below key support levels around $58,000. While ETF outflows continue to pressure prices, long-term holders are accumulating Bitcoin, creating a mixed outlook. A sustained return of ETF inflows or softer Fed language could spark a recovery, but without these, Bitcoin may remain range-bound or decline further toward $50,000-$53,000. Investors should watch ETF flows, inflation data, and Fed signals closely as these will largely determine Bitcoin's direction in the near term.

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