Bitcoin Price Hovers Near $80,000 as Traders Await Fed Decision
By Micah Zimmerman
AI summary of the source article
Bitcoin traded near $80,000 on Monday as traders awaited the Federal Reserve's interest rate decision. The asset faced selling pressure, including $635 million in spot ETF outflows on October 22 and $800 million in long liquidations last week.
Why it matters
Higher interest rates typically pull money away from risky assets, including crypto.
Key facts
- Spot Bitcoin ETFs recorded approximately $635 million in outflows on October 22.
- A drop below $80,000 last week triggered roughly $800 million in liquidations of long positions.
- Bitcoin traded at $80,215 with 24-hour trading volume reaching about $18.12 billion ahead of the Federal Reserve's meeting ending October 28.
Source excerpt · Bitcoin Magazine
Bitcoin Magazine Bitcoin Price Hovers Near $80,000 as Traders Await Fed Decision Bitcoin price hovers near $80,000 as traders wait on this week’s Fed decision, with geopolitical tensions and Anthropic’s possible IPO adding to the uncertainty. This post Bitcoin Price Hovers Near $80,000 as Traders Await Fed Decision first appeared on Bitcoin Magazine and is written by Micah Zimmerman .