{"id":126432,"date":"2026-04-29T16:20:00","date_gmt":"2026-04-29T12:20:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=126432"},"modified":"2026-04-29T18:31:37","modified_gmt":"2026-04-29T14:31:37","slug":"bitcoin-treads-water-near-77k-fed-showdown-and-iran-blockade-keep-crypto-on-edge","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/bitcoin-treads-water-near-77k-fed-showdown-and-iran-blockade-keep-crypto-on-edge\/04\/29\/market-updates\/","title":{"rendered":"Bitcoin Treads Water Near $77K: Fed Showdown and Iran Blockade Keep Crypto on Edge"},"content":{"rendered":"\n<h1 class=\"wp-block-heading\"><\/h1>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Key Takeaways<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Steady but stuck:<\/strong> Bitcoin held near $77,000, last trading 0.5% higher at $76,614, as investors await the Fed verdict.<\/li>\n\n\n\n<li><strong>Technical ceiling:<\/strong> IG analysts identify the $78,000-$79,500 zone as a stubborn resistance barrier, with profit-taking repeatedly capping advances.<\/li>\n\n\n\n<li><strong>Range-bound pattern:<\/strong> Sharp rallies followed by consolidation phases reflect a market &#8220;improving but not yet fully trending.&#8221;<\/li>\n\n\n\n<li><strong>Fed in focus:<\/strong> Rates widely expected to remain on hold, but forward guidance amid soaring oil prices is the main event.<\/li>\n\n\n\n<li><strong>Powell&#8217;s possible swan song:<\/strong> This may be Jerome Powell&#8217;s last meeting as Fed Chair, with former governor Kevin Warsh seen as the likely successor.<\/li>\n\n\n\n<li><strong>Trump tightens screws:<\/strong> Reports indicate the president has directed aides to prepare for a prolonged Iran blockade after rejecting Tehran&#8217;s three-step Hormuz proposal.<\/li>\n\n\n\n<li><strong>Oil shock continues:<\/strong> Brent crude has surged above $110 per barrel, intensifying global inflation worries.<\/li>\n\n\n\n<li><strong>Fragile positioning:<\/strong> More than $290 million in crypto liquidations were logged in the past day.<\/li>\n\n\n\n<li><strong>Altcoins quiet:<\/strong> Ethereum rose 1% to $2,297.92, XRP held at $1.37, while Dogecoin defied the calm with a 7%+ surge.<\/li>\n<\/ul>\n\n\n\n<p>Bitcoin held its ground near $77,000 on Wednesday as investors warily awaited the U.S. Federal Reserve&#8217;s policy decision, while simultaneously weighing the implications of a potentially extended American blockade of Iran.<\/p>\n\n\n\n<p>The world&#8217;s largest cryptocurrency was last trading 0.5% higher at $76,614 as of 09:47 ET (13:47 GMT).<\/p>\n\n\n\n<p>&#8220;The $78,000-to-$79,500 area has emerged as a key technical barrier, with profit-taking repeatedly capping advances,&#8221; IG analysts wrote in a note.<\/p>\n\n\n\n<p>&#8220;This has resulted in a familiar pattern of sharp rallies followed by consolidation, highlighting a market that is improving but not yet fully trending,&#8221; they added.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Fed Decision Looms; Trump Eyes Prolonged Iran Blockade<\/h2>\n\n\n\n<p>Markets broadly expect the Fed to leave interest rates unchanged on Wednesday, but will be combing through the central bank&#8217;s guidance for clues on the future policy trajectory amid the surge in oil prices.<\/p>\n\n\n\n<p>The meeting is also widely viewed as potentially the final one chaired by Jerome Powell, with former Fed governor Kevin Warsh emerging as a frontrunner to succeed him.<\/p>\n\n\n\n<p>Geopolitical developments have further muddied the outlook. A Wall Street Journal report indicated that U.S. President Donald Trump has directed aides to prepare for an extended blockade of Iran, opting for sustained economic pressure rather than renewed military escalation or full diplomatic disengagement.<\/p>\n\n\n\n<p>The report came on the heels of Washington&#8217;s rejection earlier this week of a three-step Iranian proposal that would have reopened the Strait of Hormuz while postponing nuclear negotiations \u2014 an offer U.S. officials deemed insufficient.<\/p>\n\n\n\n<p>Oil prices have rocketed above $110 per barrel amid the heightened tensions, reinforcing fears of stickier global inflation.<\/p>\n\n\n\n<p>Market positioning also appeared delicate, with more than $290 million in crypto liquidations reported over the past day.<\/p>\n\n\n\n<p>Analysts noted that Bitcoin remained firmly range-bound, with resistance near the $80,000 level continuing to cap upside attempts, while support around the $76,000-$77,000 zone is now viewed as critical in the near term.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Crypto Price Today: Altcoins Subdued, DOGE Jumps 7%<\/h2>\n\n\n\n<p>Most altcoins traded within tight ranges on Wednesday amid the broader risk-off tone.<\/p>\n\n\n\n<p>Ethereum, the world&#8217;s second-largest cryptocurrency, rose around 1% to $2,297.92.<\/p>\n\n\n\n<p>XRP, ranked third globally, was little changed at $1.37.<\/p>\n\n\n\n<p>Solana and Cardano each edged 0.4% higher, while Polygon traded flat.<\/p>\n\n\n\n<p>Among meme tokens, Dogecoin surged more than 7%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Steady but stuck: Bitcoin held near $77,000, last trading 0.5% higher at $76,614, as investors await the Fed verdict. Technical ceiling: IG analysts identify the $78,000-$79,500 zone as a stubborn resistance barrier, with profit-taking repeatedly capping advances. Range-bound pattern: Sharp rallies followed by consolidation phases reflect a market &#8220;improving but not yet fully &hellip;<\/p>\n","protected":false},"author":9,"featured_media":99111,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,40,6827,49,36],"tags":[6904,7820],"class_list":["post-126432","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-cryptocurrencies","category-daily-economic-reports","category-economic-reports","category-market-updates","tag-bitcoin","tag-risk-appetite"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/126432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=126432"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/126432\/revisions"}],"predecessor-version":[{"id":126433,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/126432\/revisions\/126433"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/99111"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=126432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=126432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=126432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}