Bitcoin trades near $79,000 as Fed rate uncertainty, selling pressure weigh on crypto markets
Leverage liquidations and spot ETF outflows deepen the selloff as traders position for a 90.6% chance the Fed holds rates steady, data show.
- On Monday, October 26, Bitcoin slipped below $80,000, trading near $79,700 as risk-off sentiment ahead of the Federal Reserve's policy meeting and concerns over artificial intelligence spending weighed on cryptocurrencies.
- Investors pulled $772.4 million from U.S. spot Bitcoin exchange-traded funds on Thursday and Friday, reversing over $1 billion of net inflows from earlier in the week and dampening market sentiment.
- Data from CoinGlass shows $154.23 million in cryptocurrency liquidations over 24 hours, with long positions accounting for $117.99 million in losses as exchanges forced closures of positions that no longer met margin requirements.
- Market participants are now focused on the Federal Reserve's October 27–28 policy meeting, with CME FedWatch tool data showing a 90.6% likelihood that Chair Kevin Warsh holds interest rates at 3.75%–4.00%.
- Traders face additional volatility from upcoming catalysts: September's personal consumption expenditures inflation report releases Thursday, October 29, while roughly $11 billion in Bitcoin options expire Friday, October 30.
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The Economic Times
Times of IndiaBitcoin trades near $79,000 as Fed rate uncertainty, selling pressure weigh on crypto markets
Bitcoin slipped near $79,000 as investors awaited the Federal Reserves policy decision. ETF outflows, macroeconomic uncertainty and selling pressure weakened sentiment, while traders monitored $78,000 support, inflation data and institutional demand for potential market direction.
The updated value of Bitcoin and the comparison with the previous day.The keys to understanding the volatility of the main cryptocurrency in the market.
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The Fed decides on the US central rate. While the markets expect a pause in interest rates, analysts warn of further increases. Bitcoin threatens new pressure.
Bitcoin operates in a slight fall on Monday (26), close to US$ 80 thousand, after falling to US$ 79,2 thousand on the weekend. The fall occurred amidst tensions in the Middle East and was enlarged by the forced closure of leveraged positions. This morning, the oil fall brought some relief, although the market remains cautious before the Federal Reserve (Fed) interest decision on Wednesday. At around 10.50 a.m., bitcoin fell 0.3% in 24 hours, to …
Bitcoin Faces Another Drop as $80M in Buy Orders Cluster at $78K–$79K
Bitcoin faces more downside pressure as buyers struggle to stop the ongoing price decline. Analyst Ted Pillows identified $78,000–$79,000 as the next key support zone, citing more than $80 million in buy orders clustered within that range.Visit Website
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