Why was Bitcoin up on Jul 29, 2026, 1:58 PM UTC?

Bitcoin's modest upward movement (+2.23% in 24h) appears primarily driven by anticipation of Wednesday's Fed interest-rate decision, which is highlighted as pivotal for BTC—rate decisions typically influence macro risk assets like crypto. The recent news about UAE crypto adoption and trading infrastructure improvements are positive but seem secondary to the macro catalyst. Short-term volatility (0.38% in 15min) suggests traders are holding positions ahead of the Fed announcement rather than reacting to any single catalyst.