BTC, ETH hold up as altcoins lag with Fed decision in focus

Bitcoin and Ethereum have remained relatively resilient by holding above their 50-day moving averages despite the recent pullback, but the broader crypto market still has yet to show a clear recovery, CoinDesk said. CoinDesk added that, compared with the Nasdaq 100, the current weakness in crypto stands out more clearly. As of July 27, local time, 47 Nasdaq 100 constituents were trading above their 50-day moving averages, indicating a stronger trend than in the crypto market. While BTC has remained stable since rebounding from around $58,000 in early last month, that strength has not spread across the broader altcoin market. At the same time, ETH has recently outperformed BTC, raising the possibility that buying interest could expand into altcoins. The outlet added that markets are watching the U.S. Federal Reserve’s rate decision, its future monetary policy path, and upcoming U.S. core PCE inflation and GDP data as key variables. It also said expectations for institutional inflows have cooled further after the U.S. Senate delayed action on the Clarity Act.