- 1Bitcoin Reclaims $80,000 Ahead of the Fed. After a brief dip below $80,000 earlier in the week, Bitcoin recovered and moved within a daily range of about $79,400 to $81,200.
- 2ETF Inflows Return, but Spot Demand Stays Weak. US spot Bitcoin ETFs attracted about $176 million on Tuesday, led by BlackRock's IBIT with roughly $151.5 million, after about $110 million on Monday.
- 3What Traders Expect From the Federal Reserve. Markets widely expect the Fed to hold its target range at 3.75% to 4.00% after a quarter-point increase in September.
- 4Google Previews Custody Security for Institutions. Google is set to showcase Google Multi-Party Compute, a system designed to help banks and other financial institutions safeguard and move cryptocurrencies…
Bitcoin Reclaims $80,000 Ahead of the Fed
After a brief dip below $80,000 earlier in the week, Bitcoin recovered and moved within a daily range of about $79,400 to $81,200. Market capitalization stayed above $1.6 trillion, with trading volume near $23 billion. Analysts are watching $81,400 as a key closing level, while $80,000 remains the nearest support, followed by $78,000 and $76,000.
ETF Inflows Return, but Spot Demand Stays Weak
US spot Bitcoin ETFs attracted about $176 million on Tuesday, led by BlackRock's IBIT with roughly $151.5 million, after about $110 million on Monday. The two-day total of $286 million narrowed October's net outflows to around $26 million. On-chain data from Santiment also showed a net outflow of 14,942 BTC from exchanges, the largest in five weeks, although such moves can reflect custody transfers rather than reduced selling.
Not all signals are positive. CryptoQuant reports that spot demand kept shrinking this month, and Bitcoin is on track for a second consecutive losing October. Spot Ether ETFs also recorded about $149 million in net outflows over the last two sessions.
What Traders Expect From the Federal Reserve
Markets widely expect the Fed to hold its target range at 3.75% to 4.00% after a quarter-point increase in September. The decision is due at 2:00 p.m. ET, followed by a press conference with Chair Kevin Warsh. Traders will focus on his comments about inflation, which has exceeded expectations for two straight months, with oil prices near $100 and the 10-year Treasury yield around 5%. Any sign that officials favor another hike, with December seen as the most likely timing, could strengthen the dollar and pressure risk assets, including Bitcoin.
Google Previews Custody Security for Institutions
Google is set to showcase Google Multi-Party Compute, a system designed to help banks and other financial institutions safeguard and move cryptocurrencies and tokenized assets. The announcement comes as concerns grow about AI-driven cyber threats. Multi-party computation splits transaction-signing authority across several participants, so no single party holds a complete private key, which is why the approach is popular in institutional custody.
What It Means for US Crypto Investors
This story is for information only and is not financial advice. Crypto assets are volatile; do your own research before acting on anything here.
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