Bitcoin Holds Near $80,800 Ahead of Fed Decision
Bitcoin rebounded to around $80,800 after briefly falling below the key $80,000 level. Ethereum and XRP also stabilized following liquidations of leveraged long positions. The market remains range-bound as traders await Wednesday’s Federal Reserve interest-rate decision, with persistent inflation limiting expectations for monetary easing and futures markets signaling heightened volatility.
The liquidation wave pushed XRP near $1.28 before buyers lifted it back to about $1.32. Open interest has declined across major exchanges, which may reduce the immediate risk of further forced liquidations. SoFi reported $417.5 million in gross crypto transactions during the first nine months of 2026; Bitcoin represented 39% of the total.
Traders are also watching Ripple’s monthly escrow release on November 1 and a rescheduled XRP Ledger upgrade on November 4. Bitcoin’s continued position above key long-term moving averages offers a degree of structural support, but near-term direction may depend on Fed guidance and other macroeconomic signals.
Neutral
The news is neutral because it describes stabilization rather than a confirmed change in trend. Bitcoin recovered above $80,000 and remains above key long-term moving averages, while the reported decline in open interest may reduce near-term liquidation risk. These factors provide support but do not establish strong new demand or guarantee further gains.
In the short term, the Federal Reserve decision is the main catalyst. As in previous rate-decision periods, uncertainty over interest rates and inflation can increase volatility across risk assets, including crypto. A more hawkish-than-expected signal could pressure Bitcoin and altcoins; a more dovish signal could support prices. Traders may therefore remain cautious around the announcement, with leverage and positioning likely to amplify moves.
Over the longer term, the article offers limited evidence of a directional shift. SoFi’s reported crypto transaction volume indicates continued activity, but it is not by itself proof of sustained institutional buying. Ripple’s escrow release and the XRP Ledger upgrade may draw attention to XRP, although the article does not establish that either event will materially affect its price. Overall, Bitcoin’s technical support and reduced liquidation pressure are balanced by macroeconomic uncertainty, supporting a neutral assessment.