Crypto Market Today: Majors Rally as Bitcoin Decouples From Tech Stocks Ahead of Fed Decision

Last Updated: July 29, 2026

The crypto market is broadly higher on July 29, 2026, as traders position ahead of today’s Federal Reserve rate decision. Bitcoin is up 1.63% to $64,478.57, notably holding firm even as South Korean chipmakers suffered one of their steepest two-day selloffs of the year — a divergence some analysts read as early evidence of weakening correlation between crypto and AI-linked equities.

Key Takeaways

• Bitcoin trades at $64,478.57 (+1.63%), Ethereum at $1,918.24 (+2.01%), and XRP leads gains at $1.08 (+3.00%)
• The Federal Reserve’s rate decision lands later today, with prediction markets pricing a real 20-25% chance of a surprise hike — the highest odds of a hike this cycle
• SK Hynix fell 17% despite a 557% profit jump, part of a broader reassessment of AI infrastructure demand that’s hit Asian chipmakers hard for a second straight week
• Bitcoin has now held up through two sharp tech-stock routs in the past seven days, a pattern suggesting its correlation with AI-linked equities may be weakening
• Morgan Stanley launched spot ETH and SOL ETFs on NYSE Arca yesterday with a 0.14% fee, the lowest of any comparable fund
• Zcash’s Ironwood upgrade activated successfully yesterday, though ZEC remains the session’s laggard as a sell-the-news pattern persists

Market Overview

Asset	Price	1h	24h	7d
Bitcoin (BTC)	$64,478.57	+0.06%	+1.63%	-2.06%
Ethereum (ETH)	$1,918.24	+0.07%	+2.01%	-0.10%
Tether (USDT)	$0.9988	-0.01%	+0.00%	-0.04%
BNB (BNB)	$572.11	+0.34%	+1.04%	+0.52%
USDC (USDC)	$0.9998	-0.02%	+0.00%	-0.01%
XRP (XRP)	$1.08	+0.21%	+3.00%	-3.82%
Solana (SOL)	$74.06	+0.09%	+1.04%	-4.26%
TRON (TRX)	$0.3257	-0.00%	+0.04%	-1.13%
Hyperliquid (HYPE)	$54.94	+0.15%	-0.40%	-6.60%
Dogecoin (DOGE)	$0.07080	+0.16%	+0.90%	-2.16%
Zcash (ZEC)	$460.13	-0.47%	-1.86%	-10.57%

Why Is the Crypto Market Up Today?

Today’s rally combines pre-Fed positioning with a genuinely notable structural signal: Bitcoin’s resilience through two sharp AI-equity routs in the past week. Rather than following South Korean chipmakers lower again today, Bitcoin climbed, and several analysts now read this as early evidence that crypto’s tight correlation with the AI trade — which dominated price action for much of 2026 — may be loosening. XRP is today’s standout gainer among majors, aided by incremental DeFi-infrastructure news alongside the broader risk-on mood.

What’s Driving the Market Today

Fed decision looms with real uncertainty. Today’s Federal Reserve rate decision carries unusually high stakes: prediction markets are pricing a genuine, if still minority, 20-25% chance of a surprise 25-basis-point hike — the highest odds of this cycle — alongside an 80% base case for a hold. Some analysts are calling this the hardest Fed meeting to predict in years.

Bitcoin shows signs of decoupling. SK Hynix fell 17% today despite reporting a 557% profit jump, part of a broader reassessment of AI infrastructure spending that’s pressured Asian tech stocks for the second time in a week. Bitcoin’s climb through that pressure both times is a notable divergence from the tight crypto-tech correlation seen earlier this year.

Morgan Stanley launches low-fee ETH and SOL ETFs. The firm’s new funds, launched yesterday on NYSE Arca with a 0.14% fee, stake their underlying holdings and pass rewards to investors, expanding institutional access to both assets at the lowest cost in their categories.

Zcash lags despite a successful upgrade. ZEC activated its Ironwood upgrade successfully yesterday, closing a security vulnerability that had weighed on the token since May, but continues trading lower today in what looks like a sell-the-news pattern.

Regulatory Watch: CLARITY Act

The CLARITY Act remains shelved in the Senate behind a Russia sanctions bill, with a vote unlikely before the August recess. The bill’s prospects now look more likely tied to the fall legislative session than any near-term catalyst.

For asset-specific coverage, see Bitcoin news today, Ethereum news today, XRP news today, Dogecoin’s price page, Zcash news today, HBAR news today, and today’s top crypto headlines. For the underlying drivers behind today’s move, see what makes Bitcoin’s price go up or down.