Yesterday's biggest headlines

1. Bitcoin lost momentum after holding near $65,000 in yesterday's market coverage. CoinDesk reported that crypto markets initially steadied after the ceasefire in hostilities between the U.S. and Iran pushed oil lower, easing one of last week's inflation pressure points. By today's briefing snapshot, CoinGecko showed BTC around $63,225, leaving the key question of whether the pullback stays orderly ahead of the Federal Reserve decision.
2. Bitcoin options traders reduced downside hedging ahead of the Fed decision. CoinDesk, citing Glassnode data, said the BTC options put/call open interest ratio fell from about 0.76 in late June to about 0.52, suggesting traders are entering Fed week with less defensive positioning.
3. The CFTC kept 24/7 trading and perpetual contracts on its policy agenda. The agency extended the comment period for round-the-clock trading and set Aug. 26 as the deadline for input on energy perpetual contracts, a relevant signal for crypto derivatives, tokenized markets, and always-on trading infrastructure.
4. Strategy raised cash while leaving its Bitcoin holdings unchanged. Barron's reported that Strategy kept its BTC holdings at 843,775 BTC, raised $544.5 million through common stock sales, and increased its dollar reserves to $3.75 billion.
5. Coinbase confirmed the date for its second-quarter earnings release. Coinbase Investor Relations said the company will publish second-quarter 2026 results after the close on July 30, making Thursday an important window for watching crypto trading activity, stablecoin infrastructure, derivatives, and retail participation.
6. U.S. markets finished mixed after lower oil prices supported risk appetite but AI concerns weighed on the Nasdaq. AP reported that the S&P 500 was nearly flat, the Dow Jones rose 0.5%, and the Nasdaq fell 0.2% for a fourth straight decline, with Nvidia down 5%.
7. Oil fell to a one-week low after the U.S. paused strikes on Iran. Reuters via Euronext reported that Brent dipped as low as $87.55 intraday before trading near $89.68, easing immediate inflation concerns while supply-route risks remained unresolved.
8. The Fed's July 28-29 meeting is the main cross-asset event. The Federal Reserve schedule confirms the two-day FOMC meeting, with traders watching whether oil volatility, labor market resilience, and inflation risks change the tone of rate guidance.
9. Thursday's U.S. GDP and PCE data will test the risk-relief rally. The BEA schedule shows second-quarter GDP and June personal income and spending will be released at 8:30 a.m. ET on July 30, giving markets fresh growth, spending, income, and inflation data after the Fed decision.

What to watch today

• Bitcoin moving toward the lower $63,000 area and whether spot demand confirms or rejects the calm in the options market
• Fed positioning ahead of the July 28-29 FOMC decision
• Interpreting Coinbase earnings expectations and crypto-equity correlations
• Oil-linked headlines after the U.S.-Iran pause
• Pressure on AI-related stocks after another weak Nasdaq session
• The release schedule for Thursday's GDP and PCE data

edgeX market view

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