Poll: Do you think BTC will hold steady or pull back next week? Share your reasoning.
This week, BTC seesawed around the $80,000 mark: It briefly fell below $80,000 intraday on Monday, then stabilized near $79,800. This is Fed decision week: The Fed meets on October 27–28, with its decision due in the early hours of October 29 Beijing time. Then, on the evening of October 29, we’ll get PCE data and the first estimate of Q3 GDP. The market is about to submit its answer on which direction it will take.
1. First, a look at the market: BTC has repeatedly battled around $80,000 this week, while ETH has also slipped to around $2,300. Last Thursday and Friday, U.S. spot BTC ETFs saw combined net outflows of about $773 million. Institutional investors chose to wait and see rather than chase the rally.
2. Next, the key variables: The Fed is widely expected to hold rates steady this week. The market’s real focus is on signals about whether there will be another rate hike in December. Combined with Thursday evening’s PCE inflation data, any remarks that come in above expectations could amplify volatility. Whether the $80,000 level holds depends on how these two cards are played.
3. Sentiment is also worth watching: Geopolitical risk premiums briefly pushed oil prices higher last week. Oil prices have pulled back this week, and risk sentiment has eased somewhat, but uncertainty over whether there will be further action after the midterm elections has not fully cleared. The market is still being driven by news.
My view: I’m neutral on
$BTC in the short term, because the battle around the $80,000 mark has yet to be decided. The Fed decision and PCE data this week—not today’s candlestick—will really determine the direction.
#美联储 #BTC #PCE
$BTC Which side are you on? Will BTC hold above $80,000 next week and continue to trade higher, or break below it and keep pulling back? Share your reasoning. Tap the tag to see real-time market data.
Sources: CoinDesk, the Fed’s meeting schedule, and Farside Investors ETF flow data. For informational purposes only; not investment advice.