Bitcoin fell from above $81,700 to a low of about $79,600 during the Asian session, triggering $356 million in liquidations, including $205 million in long positions. The Federal Reserve held interest rates between 3.75% and 4% with a more restrictive tone, while futures markets assign an 83% probability to a rate increase on December 8 and 9. Alphabet disappointed with adjusted earnings per share of $2.67 versus $3.02 expected, sending its shares down about 10% in after-hours trading, while Samsung fell more than 5% after reporting semiconductor results below forecasts. About $11 billion in bitcoin options expire on Deribit on Friday, with the maximum pain point near $78,000. US spot ETFs recorded $176 million in net inflows on Tuesday, while the November 3 midterm elections and the Fed’s next meeting represent bitcoin’s next tests.
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