Bitcoin News Today: Bitcoin ranges ahead of Fed decision as CFX, ENA surge 69%, 40.5%

Bitcoin hovered within a tight range of $115,184 to $119,959 this week, reflecting a lack of directional momentum as traders awaited clarity on Federal Reserve policy [1]. The cryptocurrency’s price action was constrained despite a brief surge above $120,000 earlier in the week, which was quickly reversed as larger players offloaded positions at that level [1]. Total crypto market capitalization fluctuated significantly, peaking near $4 trillion before retreating to $3.85 trillion, a 6% drop by week’s end [1]. This volatility underscored the speculative nature of the market, with open interest hitting a record $44.5 billion, signaling heightened leveraged activity [1]. Analysts noted that short-term traders dominated activity, capitalizing on rapid swings rather than long-term holding strategies [1].

Altcoins outperformed Bitcoin, which closed the week down over 2% at $115,399. Conflux (CFX) led the pack with a 69% gain, driven by anticipation of its Conflux 3.0 upgrade and partnerships targeting real-world asset tokenization [1]. Ethena (ENA) surged 40.5%, buoyed by large-scale accumulation from whales and institutional strategies, including a $260 million allocation from StablecoinX over six weeks [1]. Pudgy Penguins (PENGU) added 22%, supported by new partnerships with NASCAR and Lufthansa, as well as renewed interest in its NFT collection [1]. The altcoin market cap reached $1.67 trillion mid-week before settling at $1.59 trillion, a 2.5% weekly increase [1].

Market sentiment remained cautiously optimistic. The Crypto Fear and Greed Index stayed in “greed” territory, albeit with a three-point decline from the prior week [1]. Technical analysts highlighted a bullish bias, citing Bitcoin’s adherence to a price discovery trend and its ability to retest key support levels. Swissblock, a crypto asset manager, noted that the Bitcoin Risk Index remained at zero, indicating no overheating and suggesting room for further gains [1]. However, caution persisted. Analysts like Daan Crypto Trades flagged $115,000 as critical support, warning of potential tests of the $113,500 level if the breakdown holds [1].

Macro factors weighed on near-term outlooks. The U.S. tariff deadline in August and unresolved trade talks with the EU and South Korea fueled risk-off sentiment [1]. Meanwhile, the Federal Reserve’s policy trajectory remained uncertain, with officials signaling no rate cuts in July. Most analysts now anticipate the first cut in September or October, delaying potential tailwinds for crypto markets [1]. Despite these headwinds, bullish bets persisted. A $23.7 million Deribit trade targeting a $200,000 year-end Bitcoin price highlighted long-term conviction, while perpetual contract premiums on Binance suggested an intraday upward bias [1].

The week’s price action underscored the tug-of-war between speculative fervor and macro prudence. While Bitcoin’s consolidation reflected uncertainty around broader economic signals, altcoins demonstrated resilience, with innovation and institutional adoption driving key sectors of the market [1].

Source: [1] [Bitcoin range-bound ahead of Fed decision, CFX, ENA post double digit weekly gains] [https://invezz.com/news/2025/07/25/bitcoin-range-bound-ahead-of-fed-decision-cfx-ena-post-double-digit-weekly-gains/]