The Fed Maintains Interest Rates in July, Bitcoin Prices Remain Stable
The Federal Reserve (The Fed) has decided to maintain its benchmark interest rate within the 3.50%-3.75% range during the July 2026 Federal Open Market Committee (FOMC) meeting. This decision triggered a relatively limited response in the crypto market, with Bitcoin prices observed to remain stable. This price stability reflects that the Fed’s move aligned with previous market expectations. According to data from the Indodax market, Bitcoin prices have held within the range of Rp1,150,000,000 to Rp1,172,000,000 since the announcement was released.
This decision to maintain interest rates marks the fifth consecutive time such a move has been made. Although it aligned with the predictions of most market participants, the internal vote within the US central bank showed differing views, with a vote composition of 9 to 3. This indicates evolving internal dynamics regarding the future direction of monetary policy. Aloysia Dian, Chief Marketing Officer of Indodax, explained that market participants are currently not only focused on interest rate figures but are also closely monitoring the deeper messages from policymakers regarding the global economic outlook. “For the market, the most important thing is not just whether interest rates are raised or maintained, but also how much certainty is provided regarding the next policy direction. When the FOMC results meet expectations, the room for volatility due to policy surprises tends to decrease,” said Aloysia Dian.
She added that US monetary policy has a broad influence on global liquidity and funding costs, which ultimately affects investor preferences for risky assets such as crypto. However, she emphasised that market movements are not determined by a single factor alone. “The Fed’s decision is often one of the factors influencing market sentiment. However, investors should remain disciplined in executing their investment strategies and not be fixated on short-term price fluctuations,” she added. In facing market dynamics, Indodax suggests that investors consider the Dollar Cost Averaging (DCA) method. This strategy involves regular, periodic investments with a fixed amount to reduce market timing risks. Aloysia concluded with an appeal for investors to always apply the ‘Do Your Own Research’ (DYOR) principle.
In related economic news, the Rupiah exchange rate closed weaker at Rp17,936 per US Dollar on Thursday (23/7), driven by high Fed interest rate sentiment and domestic foreign exchange demand. PT SMF projects that the BI-Rate could rise to 6.75% by the end of 2026 to dampen Rupiah exchange rate pressure and anticipate a decline in foreign exchange reserves. An economist from Trimegah Sekuritas assessed that Bank Indonesia needs to raise interest rates by 25 bps at the July 2026 RDG to maintain credibility and attract foreign capital. Meanwhile, the Jakarta Composite Index (IHSG) strengthened by 0.87% to the 5,744.56 level on 2 July 2026, driven primarily by optimism regarding US-Iran peace and signals from the Fed’s interest rate policy.