Bitcoin Holds Above $80K as Fed Decision and Flows Loom
Bitcoin rebounded toward $83,000 earlier in the period, then pulled back and traded near $80,800 ahead of the Federal Reserve’s October 28 decision. It fluctuated between $79,416 and $81,159 over 24 hours. Traders are watching whether Bitcoin can hold support near $80,000 and reclaim resistance at $81,400–$82,500; a stronger recovery could bring $84,400–$85,000 into focus, while lower support sits near $78,000 and $76,000.
Spot Bitcoin ETF flows have been volatile. The funds recorded $526.7 million in net inflows on October 19, reversing an outflow in the previous session. Later, they attracted $110.3 million on October 26 after two sessions of withdrawals totaling about $773.5 million, before inflows slowed to roughly $24.54 million the next day. Santiment also reported net exchange outflows of 14,942 BTC, the largest daily withdrawal in five weeks. These flows may reduce near-term selling pressure, but they do not confirm sustained accumulation.
Markets broadly expect the Fed to hold rates at 3.75%–4.00%. Its guidance, US inflation and economic data could shape liquidity and risk appetite. Geopolitical concerns, including reports of possible US military action against Iran, add uncertainty and could push oil prices higher, renewing inflation concerns. Bitcoin’s near-term direction may therefore depend on Fed messaging, ETF demand and whether buyers defend support.
Neutral
The signals for Bitcoin are mixed, supporting a neutral near-term assessment. ETF inflows on several dates and the reported exchange outflow may indicate renewed demand and could ease immediate selling pressure. However, flows have been inconsistent, and the exchange data alone does not establish sustained accumulation. Bitcoin also remains below the $81,400–$82,500 resistance zone, with support around $80,000 under scrutiny.
In the short term, the Fed’s rate decision and guidance could drive volatility. A hold is widely expected, so traders may focus on the Fed’s outlook and incoming inflation and growth data. Higher oil prices linked to geopolitical tensions could reinforce inflation concerns and weigh on risk appetite. A break below support could invite further selling toward $78,000 or $76,000; a sustained move above resistance would improve the recovery outlook. Over the longer term, continued ETF demand and stronger price levels could support Bitcoin, but a few positive flow sessions are not enough to establish a durable trend.