Bitcoin is trading around $80,838, up 1.57% over 24 hours but down 2.86% over one month, after briefly falling below the $79,500 threshold on October 27. The Federal Reserve is due to announce its interest-rate decision on Wednesday at 7 p.m., with a status quo priced in at roughly 93%, while comments from Fed Chair Kevin Warsh could move markets. A daily close below $79,500 would confirm a downside break from the descending channel and could pave the way for a decline toward $76,000, whereas reclaiming $81,200 would open the way to $83,000 and then $84,000. Trading volumes remain weak, and more than $10 billion in Bitcoin options will expire on Deribit on Friday, potentially increasing volatility. However, US spot Bitcoin ETFs recorded approximately $286 million in net inflows across the October 26 and 27 sessions.
Source: Read the original article
