Bitcoin lost momentum again this week after failing to sustain the recovery that began in recent days. The cryptocurrency reached US$ 65.600 before retreating to near US$ 63.000, its lowest level in about ten days.
The move comes as investors reduce positions ahead of the FOMC meeting, scheduled for July 28 and 29. The Federal Reserve currently keeps interest rates between 3,50% and 3,75%, a range set at the previous meeting.
Uncertainty over US interest rates
US monetary policy appears among the main factors behind the pressure on Bitcoin. Although keeping rates unchanged is widely expected, the market is watching for any signal about the Federal Reserve's next steps.
Inflation still remains above the 2% target set by the US central bank. For this reason, investors should closely watch the communication from Kevin Warsh, president of the Federal Reserve and the FOMC since May 2026.
When doubts about interest rates increase, assets considered more sensitive to liquidity tend to come under pressure. Bitcoin, altcoins, and other cryptocurrencies may feel this move as the market recalibrates expectations.
Stock market decline increases pressure
The weakness is also not limited to the cryptocurrency market. Asian stock markets posted significant losses, while technology-related stocks pressured US indexes.
This behavior matters for Bitcoin because the cryptocurrency has shown a higher correlation with risk assets during periods of stress in traditional markets.
Gold also lost momentum after reaching a high near US$ 4.120. The drop of more than US$ 100 in a few hours reinforced the perception of position reductions across different asset classes.
Bitcoin ETFs lose momentum
Bitcoin ETF flows also began to weigh on the price. Funds traded in the United States recorded outflows of US$ 225,2 milhões on July 23 and US$ 240,1 milhões the following day.
Despite this, the ETFs ended the week of July 24 with net inflows of US$ 33,79 milhões, maintaining a positive weekly streak. The data shows that institutional demand has not disappeared, but it has lost intensity in the short term.
With the combination of caution ahead of the FOMC, pressure in the stock markets, and recent ETF outflows, Bitcoin found it difficult to sustain levels above US$ 65 mil.
Delay of the Clarity Act increases uncertainty
Another factor gained importance this Tuesday: the United States Senate temporarily postponed the review of the Digital Asset Market Clarity Act.
The proposal is one of the main cryptocurrency regulation initiatives in 2026. The delay occurred while senators concentrate efforts on federal nominations and on a sanctions proposal against Russia.
With the legislative agenda tight, a vote on the Clarity Act is unlikely to take place before next week. The timing is relevant because Congress's summer recess begins on August 8.
In addition to the calendar, disagreements remain over an ethics clause involving senior government officials, including the current US president, Donald Trump, and his ties to cryptocurrency-related projects.
The House of Representatives has already approved a similar version of the bill, but the text still needs to pass through the Senate. If it undergoes changes, it may return to the House before reaching the Presidency.
The delay adds yet another source of uncertainty for investors who were awaiting progress in defining the rules of the cryptocurrency market in the United States.