In general, the FED is not expected to announce an interest rate cut.
The war situation in Iran becomes more complicated and the price of oil rises.
The price of bitcoin on the morning of this Wednesday, April 29, 2026 is positioned above $77,000.
In this way, the digital currency shows a recovery in its price. Let us remember that yesterday, as CriptoNoticias reported, it had fallen below $76,000 following the news that the United Arab Emirates will leave the Organization of Petroleum Exporting Countries (OPEC).
The following graph shows what has been the bitcoin behavior during the last 7 days:
This rise in bitcoin, as indicated in the headline of this news, occurs on the same day that Jerome Powell, president of the US Federal Reserve (FED), will give his last speech on interest rates. Starting next month, the presidency of the organization would be in the hands of Kevin Warsh—the candidate proposed by Donald Trump—although authorization from the Legislative Branch for his assumption is still pending.
Market expectations, according to surveys, are that the FED will not announce changes in interest rates today. These would continue in the order of 3.75% year-on-year. Anyway, What Powell says in his speech can shake up the markets (and this includes the price of bitcoin).
In geopolitical matters, things are not looking good. According to reports of the Wall Street Journal, “President Trump has instructed his advisers to prepare for a prolonged blockade of Iran (…) with the aim of attacking the regime’s coffers in a high-risk attempt to force a nuclear capitulation that Tehran has long rejected.”
While this is happening, the price of oil is rising. At the time of this writing, the barrel of Brent is positioned above $114, a level that – as seen in the following graph – has not been seen since 2022:
CriptoNoticias has explained that increases in the price of oil (worrying situation for inflation worldwide) They are not usually good for bitcoin.
So if there is a difficult geopolitical and macroeconomic environment, Why does the digital currency have this price increase? Zaheer Ebtikar, Director of Split Research, think that “the oversupply has finally dissipated, and sellers who were alarmed by macroeconomic changes or quantum fears have already exited, leaving the market much smaller on the sell side than it was just a few months ago.” This, according to him, would be making “bitcoin much less sensitive to regulatory noise or central bank policy.”
For his part, the trader and analyst Michaël van de Poppe shows no concern about the volatility that bitcoin may have todaythat it is attributed to the accumulation of important announcements that will be made:
The FOMC meets today and GDP data is released tomorrow. There are many important events coming up, and markets often fall before them. The rally is strong and indicates that there will be more increases from now on. On shorter time frames, we see higher and higher lows and highs, and I stand by my theory that $85,000 to $88,000 is the target range for bitcoin in May.
Michael van de Poppe.
For now, bitcoin is giving a display of resistance and strength in an adverse economic environment. We will have to wait for the next few hours and days to see how its price evolves.