Bitcoin is trading around $80,000 and is on track to end October down 4%, after nearly $150 million in long positions were liquidated in two hours when it fell to $79,145. The Federal Reserve is expected to keep its target rate between 3.75% and 4%, with markets assigning more than a 90% chance to a pause, while Thursday’s PCE inflation data could add to volatility. Investors are also awaiting earnings from Microsoft, Alphabet, Amazon and Intel, along with US third-quarter GDP figures. Pressure on artificial intelligence-related stocks and concerns surrounding the US midterm elections keep downside risks prominent, with resistance concentrated around $87,000.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
