<p>Bitcoin Drops Below $29,200 Ahead of Fed Meeting; 5% Losses for XRP and Solana; Crypto Market Update.<br />
Tuesday saw a sharp decline in cryptocurrency prices as investors awaited the US Federal Reserve’s imminent monetary policy announcement.<img decoding=”async” class=”alignnone wp-image-96524″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/07/theindiaprint.com-bitcoin-prices-today-july-25-among-the-top-cryptocurrencies-images-1.jpg” alt=”” width=”1074″ height=”715″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/07/theindiaprint.com-bitcoin-prices-today-july-25-among-the-top-cryptocurrencies-images-1.jpg 275w, https://www.theindiaprint.com/wp-content/uploads/2023/07/theindiaprint.com-bitcoin-prices-today-july-25-among-the-top-cryptocurrencies-images-1-150×100.jpg 150w” sizes=”(max-width: 1074px) 100vw, 1074px” /></p>
<p>The price of Bitcoin (BTC) fell by 2.24% to $29,120, while Ethereum (ETH) was just over the $1,850 level. Notably, BTC’s trading volume increased significantly during the last day by 45.6%, reaching almost $14.6 billion.</p>
<p>As investors wait for the Federal Open Market Committee (FOMC) meeting slated for this week, Bitcoin (BTC) volatility has reportedly hit its lowest point in a year, according to the CoinDCX Research Team. The estimate of Bitcoin’s 30-day volatility has dropped to only 0.74%, which is the lowest level since January 16, 2023.</p>
<p>During its meeting, the FOMC is expected to raise interest rates by 25 basis points, with the possibility that this will be the final rate increase by the Federal Reserve for some time.</p>
<p>On Tuesday, a number of other well-known cryptocurrency tokens also suffered losses, including XRP, Cardano, Litecoin, Polygon, and Solana. At the same time, the market value of all cryptocurrencies fell to around $1.17 trillion, a 1.85% drop in the previous day.</p>
<p>The overall volume in the decentralized finance (DeFi) market is presently $2.51 billion, or 7.33% of the 24-hour volume for the whole crypto market. Additionally, the overall volume of stablecoins currently stands at $30.82 billion, or 90.2% of the 24-hour volume of the whole crypto market.</p>
<p>The biggest cryptocurrency in the world, Bitcoin, has a market worth of over $566 billion. However, according to CoinMarketCap, its dominance has somewhat declined to 48.41%, with a 0.18% decline during the day.</p>
