Bitcoin Dips Below $80,000 Into Fed Day and Giant Expiry
By Damilola Esebame
AI summary of the source article
Bitcoin traded near $79,950 ahead of the Federal Reserve's rate decision and a $11 billion to $12 billion Deribit monthly options expiry scheduled for October 30.
Why it matters
How dealers reposition after roughly a third of open interest rolls off will set the tone for Bitcoin’s November trading range.
Key facts
- Bitcoin slipped below $80,000 on October 26, reaching a session low of $79,332.
- Deribit's October 30 monthly options expiry holds an estimated notional value of $11 billion to $12 billion, with max pain estimated near $76,000 to $79,000.
- US spot Bitcoin ETFs saw back-to-back daily outflows of $484.9 million and $244.1 million on October 7 and 8.
Source excerpt · FinanceFeeds
Bitcoin trades near $79,950 on October 26, sitting below the $80,000 level as two dated catalysts approach within the same week. The Federal Reserve’s Federal Open Market Committee (FOMC) announces its interest rate decision on Wednesday, October 28 at 2:00 PM ET, and Deribit’s monthly options expiry settles at 08:00 UTC on Friday, October 30. The Fed Setup on Wednesday The FOMC meets October 27 t…