Why was Bitcoin up on Jul 29, 2026, 5:46 AM UTC?

Bitcoin's modest gains (0.78% in 24h) appear driven by cautious optimism around potential Fed dovishness, which could support risk assets if rates don't rise as aggressively as some expect. However, the small price movements and mixed analyst sentiment suggest the market is largely holding its ground ahead of Wednesday's Fed decision—the real catalyst that could move it significantly.