Bitcoin Price Today: Why BTC Is Holding Firm Ahead of the Fed Decision
Bitcoin was trading close to $64,300, or roughly £48,000, on Wednesday morning, holding relatively steady even as a sharp sell-off in Asian and US technology and chip stocks wiped billions off global equity markets. This pattern has repeated itself over the past week, with bitcoin's price moves proving comparatively muted through renewed concerns about AI-related spending that have hit chipmakers hard. This guide looks at today's bitcoin price, the wider market backdrop, and what today's Federal Reserve interest rate decision could mean for crypto market sentiment. This information is for general education only and does not constitute financial advice.
Key takeaway
- Bitcoin traded near $64,300, or around £48,000, on the morning of 29 July 2026, up roughly 1% on the day (CoinDesk, 29 July 2026; cross-checked against CoinGecko and Coinbase UK GBP pricing).
- Over the past week, sharp declines in Asian chip stocks have not been mirrored by an equivalent move in bitcoin's price, with South Korea's Kospi index suffering one of its sharpest declines of the year (CoinDesk, 29 July 2026).
- The next scheduled catalyst is today's Federal Reserve interest rate decision, due mid-afternoon UK time, which economists widely expect to leave rates unchanged (CBS News, 27 July 2026).
- Cryptoassets remain highly volatile and largely unregulated in the UK, with no consumer protection if things go wrong.
What is Bitcoin's price today?
Bitcoin was trading at around $64,300, or roughly £48,000, on the morning of 29 July 2026 (CoinDesk, 29 July 2026; cross-checked against CoinGecko and Coinbase UK GBP data, both dated within the past 24 hours).
$64,300
BTC/USD, 29 Jul 2026
~£48,000
Approx. BTC/GBP
+1.2%
24h change
That compares with a price closer to $63,400 the previous morning (Fortune, 28 July 2026). Bitcoin remains a highly volatile asset, and past performance is not a reliable indicator of future results.
Why has Bitcoin's price stayed relatively steady during the tech sell-off?
Over the past week, sharp declines in major Asian technology and chip stocks have not been mirrored by an equivalent move in bitcoin's price.
What's driving the Asian chip stock sell-off?
South Korea's Kospi index, heavily weighted toward chipmakers Samsung and SK Hynix, has fallen sharply over the past two trading sessions as investors reassess how sustainable current levels of AI-related infrastructure spending really are (CoinDesk, 29 July 2026).
Some market commentary has suggested bitcoin's tight correlation with AI-linked equities may be weakening, though this is based on a short period of data and it remains too early to say whether the pattern will continue (CoinDesk, 29 July 2026).
Quick fact
Ethereum traded near $1,900-1,916 over the same period, with more muted moves than bitcoin (CoinDesk, 29 July 2026).
What could the Federal Reserve decision mean for crypto markets?
Today's Federal Reserve interest rate decision, due at 2pm US Eastern Time (7pm UK time), is the next major scheduled event that could influence risk sentiment across markets, including cryptoassets.
Economists polled by FactSet expect the Fed to hold its benchmark rate at 3.50%-3.75% for a fifth consecutive meeting (CBS News, 27 July 2026). This is not a guarantee of future performance, and the direction of any market reaction, in crypto or elsewhere, cannot be predicted in advance.
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What other factors are affecting crypto sentiment right now?
Beyond today's Fed decision, several other developments form part of the current backdrop for crypto markets.
- The US Senate has shelved the Clarity Act, a piece of proposed crypto market-structure legislation (CoinDesk, 29 July 2026)
- A report from blockchain security firm Blockaid found crypto exploits reached a record high in the first half of 2026, with 212 confirmed incidents and around $1 billion in total losses (Blockaid, via FXStreet, 29 July 2026)
- Altcoin price moves have generally been more muted than bitcoin's over the same period (CoinDesk, 29 July 2026)
Quick fact
H1 2026 crypto exploit losses totalled roughly $1 billion across 212 incidents, averaging $5.4 million per incident (Blockaid, via FXStreet, 29 July 2026).
How can UK investors track or access Bitcoin?
UK investors have several ways to follow or gain exposure to bitcoin, ranging from simply monitoring its price to opening a dedicated crypto trading account.
- Tracking live prices via exchanges or financial data providers
- Opening a dedicated crypto trading account with a regulated UK provider
Tax treatment depends on individual circumstances and may be subject to change. Seek independent advice. This is general information only and not a personal recommendation to buy or sell any cryptoasset.
FAQ
Is Bitcoin decoupling from tech stocks?
It's too early to say. Over the past week bitcoin's price has moved less than some tech and chip stocks during a sharp sell-off, but a short period of data is not enough to conclude the relationship has changed permanently (CoinDesk, 29 July 2026).
Why did tech and chip stocks sell off this week?
Reporting has linked the sell-off to investor concerns about whether current levels of AI-related infrastructure spending are sustainable, with South Korea's Kospi index among the hardest hit (CoinDesk, 28-29 July 2026).
What time is the Federal Reserve decision today?
The Fed is scheduled to announce its rate decision at 2pm US Eastern Time, which is 7pm UK time, followed by a press conference from Fed Chair Kevin Warsh at 2:30pm ET (7:30pm UK time).
Is Bitcoin regulated in the UK?
Cryptoassets are largely unregulated in the UK and carry no consumer protection if things go wrong. Some crypto-related firms are registered with the FCA (Financial Conduct Authority) for anti-money-laundering purposes, but this is different from full financial services regulation.
How can I buy Bitcoin in the UK?
UK residents can typically buy bitcoin through registered exchanges or trading platforms. This is general information only, not personalised advice, and you should consider the risks carefully before buying any cryptoasset.
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Past performance is not a reliable indicator of future results.
Tax treatment depends on individual circumstances and may be subject to change. Seek independent advice. Tax on cryptoasset profits may apply.
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