News Maker 23

Bitcoin remained relatively stable, hovering around US$80,200 on Tuesday (October 27), following a retest of the US$79,000 level. BTC’s price action remains under pressure after the firm—which has been actively acquiring Bitcoin—made no purchases during the week of October 19–25. Latest market data shows Bitcoin trading at approximately US$80,138, while Ethereum stands at US$2,324 and XRP at around US$1.30.

The pause in acquisitions is noteworthy, given that the firm currently holds roughly 848,517 Bitcoin, with a total purchase value of approximately US$64.02 billion. The absence of new buying signals a cautious stance as the market awaits the Federal Reserve’s monetary policy decision. Furthermore, Bitcoin has broken out of the US$80,000–US$87,000 trading range that had held for the past month.

Altcoin performance has been mixed: BNB is trading around US$744, XRP at US$1.30, Solana at US$100.85, Dogecoin at US$0.0778, and Cardano at US$0.206. Meanwhile, Ethereum remains in the US$2,326 range. These movements suggest that the broader crypto market is currently in a consolidation phase ahead of key macroeconomic catalysts.

Investor focus is now squarely on the Federal Reserve’s decision, expected Wednesday. While the market largely anticipates that interest rates will remain unchanged, persistent US inflation could prompt the Fed to maintain a hawkish tone. Such a scenario could exert pressure on Bitcoin and other crypto assets, as high interest rates typically diminish the appeal of risk assets.

On the other hand, Galaxy suggests that Bitcoin’s current period of weakness could actually serve as an accumulation phase. Alex Thorn noted that selling pressure has eased and the positions held by speculative investors have begun to decline. However, this outlook must still contend with technical and macro conditions that are not yet fully supportive.

Newsmaker Analysis: Bitcoin remains in a critical phase around the US$80,000 level. As long as this area holds, the possibility of consolidation and recovery remains. Nevertheless, the Federal Reserve’s decisions and tone will serve as the primary catalyst. A hawkish stance from the Fed could exert renewed pressure on BTC and altcoins. Conversely, a more dovish signal could create room for Bitcoin to retest the upper bound of its previous trading range.

Source: Newsmaker.id