Bitcoin Volatility Surges as Markets Brace for Fed Decision and Monthly Close

Bitcoin experienced notable volatility as Wall Street opened on July 31, with markets on edge due to upcoming U.S. macroeconomic events and the end-of-month close. According to Cointelegraph Markets Pro and TradingView data, Bitcoin reached daily highs of $66,814 on Bitstamp, anticipating the Federal Reserve’s decision on interest rates. While the CME Group’s FedWatch Tool suggests that the Federal Open Market Committee (FOMC) is unlikely to change rates until September, traders are focused on comments from Fed Chair Jerome Powell. “We anticipate increased volatility ahead of tonight’s FOMC. “We do not expect a cut and place higher importance on the