Ahead of the minutes of the FOMC meeting, Bitcoin drops below $31,000.

• The price of Bitcoin rose to $31,300+, its highest level since June 2022.
• Bitcoin's dominance reached its greatest level since April 2021, reaching 50%.
• Ethereum is still struggling to climb beyond $1,950.
• The Nasdaq Composite has increased by 31..5+%, which is a record high for the first half since 1983.?
• The S&P 500 Index (SPX) posted its highest first half since 2019 with a gain of 15.5+%.
• In June, the European Central Bank (ECB) and the Bank of England (BOE) raised rates again.
• Investors are eagerly awaiting US FOMC Meeting Minutes this Wednesday.

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The total crypto market capitalization was $1.20 trillion or more, a 1.10 percent decrease from the previous day. Bitcoin's price has risen to $31,300+, its highest level since June 2022. The spike was fueled by growing optimism surrounding spot bitcoin exchange-traded fund (ETF) applications submitted by powerful Wall Street companies like as BlackRock. On Tuesday night, US stock futures witnessed little action as Wall Street prepared to begin a shorter week following the Fourth of July holiday. Futures on the S&P 500 and Nasdaq 100 fell 0.07% and 0.14%, respectively.

Rise in Bitcoin Dominance:

The market capitalization of Bitcoin accounts for 52% of the entire cryptocurrency market as of June 29. This is a record high set in April 2021. As Bitcoin's dominance level surpassed 50% on Tuesday night, it was at its highest position since April 2021. Major cryptocurrencies are traded in a diverse bag. According to data from CoinMarketCap at the time of publication, BTC has a dominance of 49.51%. The price of bitcoin (BTC) has reached a one-year high this month as a result of an uptick of institutional investing activity, which was highlighted by traditional finance giant BlackRock and other asset management firms filing for a wanted spot bitcoin exchange-traded fund (ETF).

Bitcoin Price Analysis:

The price of Bitcoin has surged to $31,300+, its highest level since June 2022. The bulls are purchasing intraday dips. Buyers will attempt to strengthen their position by driving and maintaining the price above the overhead barrier of $31,000 while remaining above $30,417. If they are successful, the BTC/USDT pair may gain momentum and begin its ascent toward $32,500. The $32,500 threshold may operate as a modest stumbling barrier. To gain an advantage in the short run, sellers must lower the price below $30,417. The BTC may then fall to $28,250.

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