BUSINESS

Singapore: Bitcoin falls as Fed hike fears grow

PUBLISHED Jul 28, 2026, 3:26 AM ET

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Bitcoin fell in early Asia trading on Tuesday, sliding as much as 2.3% to US$63,414 by 9 a.m. in Singapore, its lowest level in 11 days, as investors weighed the risk of higher US interest rates. Ether dropped about 3.6%. Citadel Securities expects the US Federal Reserve to raise rates by a quarter point on Wednesday, a move traders currently assign roughly a one-in-three probability. Rising borrowing costs typically pressure risk assets, including cryptocurrencies. The decline comes after modest bitcoin gains over the past month and follows more than US$465 million of outflows from US-listed bitcoin ETFs on July 23–24.

By Daniel Hayes | JQJO News

Timeline of Events

October 2023 Bitcoin peaks near US$126,000 record
Past month Bitcoin posts modest recovery gains
July 23 2026 US-listed bitcoin ETFs see heavy outflows
July 24 2026 ETF outflows break inflow streak
Last week Citadel signals possible Fed rate increase
Tuesday morning Bitcoin hits 11-day intraday low
Wednesday Fed decision on possible quarter-point hike
Near term Analysts highlight US$60,000 support zone

News Intelligence

If you own Bitcoin or other cryptocurrencies, be aware. A potential US Federal Reserve rate hike could affect their value. Keep an eye on the Fed's decision Wednesday. If you're considering investing, note the US$60,000 support zone.