Overview

• The Federal Reserve kept interest rates at 4.5% and reaffirmed quantitative tightening, dimming prospects for near-term rate cuts.
• Bitcoin has settled into a narrow $115,000–$120,000 range after its July rally and faces historically weak seasonal headwinds for August.
• More than $630 million in leveraged positions were liquidated as traders responded to profit-taking waves and tariff-driven risk off.
• Altcoins have surged relative to Bitcoin’s stalled gains, signaling the potential onset of an altseason.
• President Trump’s new tariffs on major trading partners have rattled global risk assets, further pressuring crypto markets.