Bitcoin steadies near 81k ahead of Fed call

Bitcoin has clawed back most of its overnight losses and sits just under 81 000 dollars on the morning of 28 October, up roughly 1.5 % in the last 24 hours after touching 79 000 earlier.

Traders are now focused on the Federal Reserve’s rate decision due later today. While a hold in the 3.75–4 % range is widely expected, attention will centre on Chair Kevin Warsh’s press conference for any hints of a December hike.

Galaxy Digital’s head of research Alex Thorn argues the bear market ended in June when prices briefly fell below 58 000. He sees the current phase as accumulation, citing the reclaim of the 50-week moving average as a constructive signal.

Volatility could spike on 30 October when 11 billion dollars worth of Bitcoin options expire on Deribit. The same week also brings third-quarter GDP and September PCE data on 29 October, plus earnings from Microsoft, Alphabet, Amazon and Intel.

Based on information from cryptonews.net