, rebounded on the afternoon of Jul. 31 after falling in the morning. Fed Chairman Jerome Powell said at a press conference on the 30th (local time), \"We need to see more of the impact of tariffs on inflation,\" adding, \"We are not considering lowering interest rates yet.\" When the Fed froze interest rates, the market\'s wait-and-see attitude turned into disappointment, and the market fell. Altcoins recorded a drop of more than 5% including Bitco', 'https://img.blockstreet.co.kr/photo/2023/08/04/20230804000002_0640.jpg', 'https%3A%2F%2Fwww.blockstreet.co.kr%2Fnews%2Fview%3Fud%3D2025073116430593702'));){kind=link}
U.S. Fed Announces Rate Cut Freeze...BTC, Moments $115K Touch
Altcoin Drops More Than 5% in an Instant Following Market Fears
BTC·Altcoins Recover Previous Day's Price on Afternoon Low Buying
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Fed Chairman Jerome Powell said at a press conference on the 30th (local time), "We need to see more of the impact of tariffs on inflation," adding, "We are not considering lowering interest rates yet."
When the Fed froze interest rates, the market's wait-and-see attitude turned into disappointment, and the market fell. Altcoins recorded a drop of more than 5% including Bitcoin's sudden drop to $115,000 on the 31st.
Despite the market's decline, Bitcoin regained $118,000 due to low-priced buying in the afternoon. Altcoins also made up for their fall in the morning.
◇Bitcoin = Bitcoin price is $118,675 at 4:30 p.m. on Jul. 31, 2025. The Bitcoin share(dominance) was 64.44%.
The long(up) and short(down) betting ratios in the Bitcoin futures market stood at 47.11% and 52.89%, according to the on-chain analytics platform Sigbtc.
Experts diagnosed that retail investors are finally starting to get tired, which could lead to a drop in the start.
"The Net Taker Volume of Binance has recently turned negative," said Amar Taha, a contributor to CryptoQuant in a report. "This suggests that the sentiment of individual investors has turned weak."
"Many traders are now selling spot bitcoin or taking a short position and betting on the decline in bitcoin," he added.
◇Upward Coin = The cryptocurrency that recorded the largest increase from the previous trading day at 4:30 p.m. on Jul. 31 was Firma Chain(FCT2), up about 13% on the day alone.
Firma Chain is a blockchain-based electronic contract data storage platform developed to solve forgery problems, reduce costs, and overcome the limitations of electronic contracts by using the decentralized characteristics of blockchain. It fundamentally solves the problem of authentication of contracting parties and forgery of contracts in intellectual property license contracts by using the decentralized characteristics of blockchain.
The Firma Chain token is an Ethereum-based ERC-20 token and was issued in May 2019 by the Singapore-based Firma Chain corporation to use it as a fee for Dapp services on the Firma Chain platform.
◇Fear Greed Index = The digital asset fear-greed index provided by Alternative has entered the 'neutral' stage with 72 points. The neutral stage is a section where the psychological resistance and support of market participants appear, and important decision-making actions appear in future price movements.
The cryptocurrency relative strength index(RSI) provided by Sigbtc was 55.1, which was in a 'neutral' state. RSI sets the relative strength between the upward and downward pressure of a particular asset price and is an indicator of a measure of over-purchasing and over-selling of a particular asset.
권승원 기자 ksw@blockstreet.co.kr