Right now, in mid-October 2026, the entire cryptocurrency market is holding its breath. The main trigger this week is the latest release of the U.S. Consumer Price Index (CPI).
Bitcoin’s price action: Bitcoin is trading in a narrow range around $83,400. Traders are being extremely cautious and are not opening large positions. BTC’s key support level is currently at $80,000 — if inflation data comes in worse than expected, the market could face a wave of sell-offs.
Reaction to the Fed: Inflation figures will determine whether the Federal Reserve (Fed) continues cutting interest rates. High inflation forces rates to remain high, which traditionally weighs on risk assets, including cryptocurrencies. Altcoins (including Ethereum) currently look even more vulnerable than Bitcoin.
