Bitcoin Holds $80,000 as AI Rally Lifts US Stocks
Bitcoin held above $80,000 as US technology shares rallied, with the Nasdaq gaining 1.18% and the Philadelphia Semiconductor Index rising 3.6%. News that Anthropic had filed an S-1 registration statement for a planned Nasdaq listing helped revive enthusiasm for AI-related investments. The company reported first-half revenue of $16.3 billion, up 1,258% year on year, according to the article.
US spot Bitcoin ETFs recorded $110 million in net inflows on 26 October, ending a week of outflows. BlackRock’s IBIT accounted for nearly all the inflow. Ether spot ETFs also saw $16.1 million in net inflows, while Solana ETFs had $8.2 million in outflows. Bitcoin was reported at $80,777.
Markets were also watching the Federal Reserve’s 27–28 October meeting. Economists largely expected rates to remain at 3.75%–4.00%, while elevated inflation and the prospect of a December rate increase remained risks. A retreat in oil prices below $100 a barrel eased some inflation concerns.
For crypto traders, Bitcoin’s support above $80,000 and renewed ETF demand offered short-term support. The Fed decision and upcoming major technology earnings could still drive volatility across risk assets.
Bullish
The news is modestly bullish for crypto in the near term. Bitcoin remained above the psychologically important $80,000 level, while US spot Bitcoin ETFs returned to net inflows after a week of withdrawals. The inflow was concentrated in BlackRock’s IBIT, so it signals renewed demand but not broad-based buying across all funds. Stronger technology shares and enthusiasm around Anthropic’s planned IPO may also support risk appetite, which can benefit Bitcoin and crypto-linked equities such as miners.
There are important limits to the positive signal. The ETF flow covers only one session, and Bitcoin’s recovery does not by itself confirm a sustained trend. The Federal Reserve’s decision and guidance are key near-term catalysts: an unexpectedly hawkish stance, or stronger signals of a December rate increase, could lift yields and pressure risk assets. Technology earnings may also affect sentiment if companies signal weaker AI spending. Oil prices have eased, reducing some inflation pressure, but geopolitical developments could reverse that move.
Past episodes of ETF inflows alongside rising equities have often supported short-term Bitcoin momentum, but flows can reverse quickly when macro expectations shift. Traders may therefore treat $80,000 as a key support level and watch subsequent ETF data, Fed messaging and trading volume for confirmation. Longer term, sustained institutional inflows would strengthen the demand outlook; a single day’s inflow is not enough to establish that trend.