Bitcoin Briefly Dips Below $80,000 as AI Worries Weigh on Asian Stocks Before the Fed Decides
By Unchained
AI summary of the source article
Bitcoin briefly dropped below $80,000 on Oct. 26 before rebounding to $80,440. The move coincided with declines in Asian stock markets as traders trimmed exposure ahead of the Federal Reserve's upcoming policy meeting.
Key facts
- Bitcoin fell to $79,785 before recovering to $80,440, roughly 4% lower than its Oct. 22 level.
- South Korea's Kospi dropped roughly 1.5% and Japan's Nikkei 225 fell 0.8% ahead of the Fed's Oct. 27-28 policy meeting.
- Glassnode estimated the cost basis for US spot ETFs and corporate treasuries at between $80,000 and $81,500, which has provided price support.
Source excerpt · Unchained
Bitcoin is down about 4% from Thursday as stocks fall in Seoul and Tokyo and traders look to Wednesday's rate call under Fed Chair Kevin Warsh. The post Bitcoin Briefly Dips Below $80,000 as AI Worries Weigh on Asian Stocks Before the Fed Decides appeared first on Unchained .