Bitcoin Faces $80K Test Ahead of Fed and Tech Earnings
Bitcoin starts the week near $80,000 as traders weigh the Federal Reserve’s rate decision, US inflation data and major technology earnings. Markets see more than 90% odds that the Fed will hold rates at 3.75%–4% on Wednesday, while Thursday’s PCE inflation data and US GDP figures could shift expectations. Brent crude eased to about $110 a barrel after reaching $117.
Bitcoin fell to $79,145 over the weekend, triggering nearly $150 million in long liquidations over two hours. October losses stood at about 4%, putting Bitcoin on course for a second consecutive negative October. Market data showed bids near $79,300 and sell orders around $81,000. Analyst Benjamin Cowen warned that Bitcoin could remain under pressure through year-end.
Investors are also watching weakness in South Korea’s KOSPI and the Nasdaq as concerns about AI-related spending weigh on technology shares. Microsoft and Alphabet report on Wednesday, followed by Amazon and Intel on Thursday. A sustained break below $80,000 could intensify selling, while macroeconomic data and corporate results may drive volatility across Bitcoin and broader risk markets.
Bearish
The near-term setup is bearish for Bitcoin. Price has slipped below the psychologically important $80,000 level, and nearly $150 million in long positions were liquidated during a sharp weekend drop. This can amplify volatility as leveraged traders reduce exposure. The article also describes weakness in technology shares and the KOSPI, reflecting broader caution toward risk assets that may weigh on crypto demand.
A Fed rate hold is widely expected, so the decision itself may already be priced in. However, the Fed’s guidance and Thursday’s PCE inflation and GDP releases could still move interest-rate expectations and trigger sharp reactions across markets. Stronger inflation or hawkish comments could pressure Bitcoin; softer data may support risk appetite. US technology earnings are another potential catalyst, particularly if companies’ AI spending fails to convince investors that it will generate returns.
Past market episodes show that Bitcoin can fall alongside equities when investors reduce risk, even when crypto-specific news is limited. A clear, sustained break below $80,000 could prompt further stop-losses and liquidations. Conversely, the reported bids around $79,300 and a recovery above $81,000 could ease immediate downside pressure. Over the longer term, the article offers no decisive change to Bitcoin’s fundamentals; the outlook depends on macroeconomic conditions, liquidity and whether the market can reclaim resistance near $87,000. The bearish classification therefore reflects current price action and near-term risk, rather than certainty of a prolonged decline.