Bitcoin trades near $79,000 as Fed rate uncertainty, selling pressure weigh on crypto markets
Selling pressure, ETF outflows and leveraged liquidations are weighing on crypto sentiment as traders brace for the Federal Reserve’s policy decision.
- On October 26, Bitcoin fell below $80,000, dipping as low as $79,332, as traders cut risk ahead of the Federal Reserve's October 27–28 policy meeting amid roughly $772 million in net outflows from U.S. spot Bitcoin ETFs.
- Investors withdrew approximately $773.5 million from U.S. spot Bitcoin ETFs on October 22 and 23, ending a three-day buying streak that attracted over $1 billion and reversing sentiment ahead of the Fed's decision.
- Selling pressure triggered roughly $154.23 million in cryptocurrency liquidations over 24 hours, affecting over 62,000 traders, while the Nasdaq Composite dropped 2.6% on October 22 amid AI spending concerns, showing Bitcoin's increasing correlation with tech stocks.
- Markets expect the Fed to hold interest rates at 3.75%–4.00% during the October 27–28 meeting, with attention focused on Chair Kevin Warsh's subsequent press conference for guidance on December rate prospects.
- The September personal consumption expenditures inflation report scheduled for October 29 follows the Fed's decision, while an estimated $11 billion Bitcoin options expiry on October 30 creates a high-volatility window that could dictate price direction.
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111 Articles
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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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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