Crypto Markets Wobble as Fed Chair Powell Faces Pressure
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Bitcoin holds steady over $118,000, while Ethereum retreats slightly. The cryptocurrency market experienced renewed volatility on Tuesday, with investors still in wait-and-see mode amid ongoing macroeconomic uncertainty as President Donald Trump’s August 1 tariff deadline looms. Most large-cap crypto assets are flat or slightly down over the past 24 hours. Bitcoin (BTC) held steady for the second consecutive day, hovering around the $118,800 mark – a 2% increase over the past week. BTC’s muted action comes after the world’s largest crypto reached a new all-time high of $123,000 last week. BTC 24-hour price chart. Source: CoinGecko “Following Bitcoin’s recent price surge, we are seeing a period of relative stability that is healthy for the market,” Przemysław Kral, CEO of Zondacrypto, said in a statement shared with The Defiant. “It allows investors to digest gains, prevents speculative overheating, and can set a foundation for further, sustainable growth. Ethereum (ETH), meanwhile, slipped just over 1% to $3,728. The dip follows a strong 23% weekly rally and Monday’s breakout above $3,700, which marks its first time crossing that level since December. XRP also fell slightly on the day to $3.52, giving back some of its recent weekly gains of 22%. Solana (SOL) bucked the trend among large-cap crypto assets, increasing 4% on the day to $203, breaking above the $200 mark for the first time since February and flipping BNB to become the fifth-largest cryptocurrency. SOL is up over 27% on the week. “While there is currently a calm confidence in Bitcoin’s long-term value, there has been fevered interest in altcoins,” Kral said. “Ethereum, Solana, XRP and other similar tokens have seen a monumental surge in value in the last week.” Total cryptocurrency market capitalization is currently standing at $4.01 trillion, down 4.5% over the past 24 hours, according to CoinGecko. Trading volume…
Filed under: News - @ July 22, 2025 6:33 pm