Crypto Market Brief July 27

The crypto market is up today, July 27, as easing geopolitical tensions push prices higher despite a looming FOMC meeting where 33% of investors expect a rate hike.

Top Movers in the Crypto Market Today

• Ethereum (ETH) is the biggest gainer among the top ten largest cryptos by market cap today. ETH price is up by 4.25% to trade at its highest price since June 2 of $1,952 at press time.

  

• The gains come on optimism that the US and Iran might negotiate another ceasefire deal after halting strikes.
• Pump.fun (PUMP) is the biggest gainer overall, after rising by 18% to trade at $0.0021.
• Shiba Inu (SHIB) has the biggest drop of 9% among the top 30 largest cryptos.

  

• SHIB’s drop follows profit-taking by short-term traders who bought over the weekend after the price rose by 25% after the SHIB burn rate increased by 5,000%.

Biggest News of the Day

• Oil prices are dropping as tensions between the US and Iran ease, pushing the crypto market higher.
• Brent crude oil is down 7%, while Murban crude oil is down by 12%. WTI crude oil is also down by 5.92%.
• The drop comes as Iran’s spokesperson Baghaei says there have been positive talks with Oman about the management of the Strait of Hormuz.
• Strategy has also announced a $25 million STRC stock buyback in an attempt to push the preferred stock to the $100 par value
• The Bitcoin treasury company has also boosted its cash reserves to $3.75 billion.
• STRC and MSTR stock were both up by 2.31% and 2.48%, on the news.

Crypto Market Data

• Total Crypto Market Cap: $2.23 trillion (+1.07%)
• 24-Hour Trading Volumes: $55.45 billion
• Bitcoin: $65,084 (+0.99%)
• Ethereum: $1,957 (+4.05%)
• XRP: $1.10 (+0.50%)

  

• Bitcoin Dominance: 58.6%
• Ethereum Dominance: 10.6%
• Altcoin Season Index: 56/100
• 24-Hour Liquidations: $299 million in total liquidations ($230 million in short liquidations and $69 million in long liquidations)

  

• Fear and Greed Index: 30 (fear)

What to Watch

• The looming FOMC meeting taking place between July 28 and July 29 is the main event to watch in the crypto market today.
• The odds of the Fed hiking rates are at 33%, while the odds that the Fed will leave rates between 3.50% and 3.75% are at 66%.
• The consumer confidence data coming out on July 28 could affect the odds of future rate cuts during the FOMC meeting.
• Market Watch shows investors expect the consumer confidence index to come in at 92%, higher than the previous 91.

Catch up on yesterday’s biggest moves in our Crypto Market Brief for July 26.