The crypto market saw another tense session on Wednesday as Bitcoin briefly dumped to $115,000 before recovering hours later back to the key $118K support level: a battle that’s been going on for days now. Traders are watching closely as BTC holds this level with its teeth, despite increasing macro pressure. While the broader market showed fatigue, the question now is: what’s the best crypto to buy in this environment?
The Federal Reserve announced Wednesday that it would not cut interest rates for July, holding steady between 4.15% and 4.25%. The decision came despite public pressure from the Trump administration, which has been calling for a 0.25% rate cut to protect economic growth amid rising tariffs. Fed Chair Jerome Powell pushed back, citing inflation risks and the economic uncertainty caused by Trump’s tariff plans.
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EXPLORE: Best New Cryptocurrencies to Invest in 2025
Meme coin BONK lost its key support at $0.0000328 just days ago and dropped over 20% to retest the lower level around $0.000026. But now it’s bouncing, trading near $0.0000287. If it reclaims $0.0000328, bulls might get back in charge. Fundamentally, Bonk’s growing ecosystem gives it an edge: LetBonk, its own launchpad, has outcompeted Pump.Fun in just weeks. Over 80% of graduated meme tokens are now born on Bonk’s launchpad, which means more revenue fees feeding back into BONK itself.
Another name bouncing back? USELESS coin. After a 38% dip from its $408 million ATH, it’s back on the radar. The coin — half satire, half meme-fuel — has been embraced by degens looking for the next Fartcoin. And let’s be honest: if Fartcoin hit $2.6 billion, why not USELESS? It’s raw, ironic, and plays directly into the no-utility meme meta. No staking, no claims, just pure community-driven chaos. For some, that’s exactly the point.
Quant (QNT) crypto is down over 10% in the last seven days. Despite starting the month strong, and going from 103 to over 134. This over 30% pump happened after introducing Quant Fusion, which is the first-ever 2.5-layer.
Now this whole move up almost got wiped out, and the coin is currently at 118 with a market cap of over 1.7B.
Neutral Technicals: Can They Shift?
The post [LIVE] July 31 Crypto Updates – Bitcoin Holds $118K as Powell Freezes Rates Despite Trump’s Pressure: Best Crypto to Buy Now? appeared first on 99Bitcoins.
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