Cryptocurrencies rise ahead of Fed rate decision

30/07/2025 Argaam
Cryptocurrencies

Cryptocurrencies 

Cryptocurrencies rose during Wednesday's trading, with investors anticipating the Federal Reserve's interest rate decision later in the day. Trade tensions eased after the US reached agreements with its major trading partners.
 
Bitcoin increased 0.7% to $118,383 at 12:01 p.m. Makkah time, according to CoinMetrics data.
 
Ripple edged up 0.4% to $3.1223, Ethereum gained 1.1% to $3,810.44, and Dogecoin rose 0.3% to $22.17.
 
Investors are awaiting the interest rate decision following today's Federal Reserve meeting, amid expectations that it will remain unchanged, contrary to US President Donald Trump's wishes. This would escalate his dispute with Federal Reserve Chairman Jerome Powell.
 
Strategy announced the purchase of 21,020 Bitcoin units, funded by a new preferred stock issuance, raising approximately $2.5 billion, exceeding the initial target of $500 million.

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