Bitcoin erased its early gains as Wall Street opened, with the dollar failing to break the 81,700 technical level. The market expects the Federal Reserve to keep interest rates in the 3.75% to 4% range, with CME Group assigning a 90.6% probability to a pause, while Federal Reserve Chair Kevin Warsh’s comments on the economy and the November 3 midterm elections could shift expectations for December. The 50-day simple moving average at $81,831 served as resistance, and a four-hour close below $80,565 would reduce the likelihood of another test of that level. According to Glassnode, buying liquidity below $80,000 has thinned, with orders now concentrated between $78,000 and $79,000, where approximately $42 million has accumulated.
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