Crypto Market Awaits Fed's Next Move Amid Stable Prices

The crypto market is currently in a holding pattern as traders wait for the Federal Reserve's next move. The upcoming policy meeting has everyone on edge, and most are adopting a 'wait-and-see' approach.

Bitcoin hovered around $65K, Ethereum was trading below $1,900, Solana sat near $77, and XRP held steady at $1.10. These prices aren't alarming, but they're not inspiring confidence either.

The Fear and Greed Index remains in 'Fear' territory at 29, a slight increase from last week's reading of 28.

Despite the uncertainty, institutional investors are still showing interest in crypto. Bitcoin ETFs pulled in $128M on July 20 alone, marking a reversal from eight consecutive weeks of outflows.

The market is closely watching the Fed meeting and its aftermath, particularly the tone of Fed Chair Jerome Powell's press conference and any updates on rate-cut timelines.