Bitcoin back below $80K as the Fed begins its meeting
A close by a hair, and another fresh morning break
Bitcoin closed Monday at $80,002 — just $2 above $80K, and above Saturday’s low of $79,240. On Tuesday morning, it dropped to $79,512 and was hovering around $79,550 at the time of writing. It’s the same story since Saturday: $80K isn’t solid support; it’s a line that breaks and recovers every day — and $79,240 is the latest low still holding.
JPMorgan: A ten-year outlook, not a signal for today
A report on JPMorgan’s outlook says the bank expects Bitcoin to outperform stocks, bonds, and gold over the next decade, assuming annual volatility of around 55%—compared with 18% for large-cap stocks and 17.2% for gold. The report also includes a downside scenario: an annual loss of around 11.2%. Bitcoin is currently around 36% below its all-time high from October 2025.
The takeaway from this news: the long-term institutional outlook has turned more positive—but it’s a ten-year view. It doesn’t erase this week’s volatility or remove the need to wait for the Fed’s decision.
Wall Street rebounded ahead of the decision
Monday’s session ended in the green: the S&P 500 rose 0.70% to 7,676.85, and the Nasdaq gained 0.83% to 26,169.38, led by AI stocks after Anthropic announced its IPO filing. Tesla jumped 5.21% after Barclays upgraded its rating. The rebound is an early sign of risk appetite—but it’s a bet on calm ahead of the decision, not the decision itself.
This week’s agenda: the full rundown
• Today: Fed meeting begins + durable goods orders at 15:30 + consumer confidence at 17:00 (Amman time)
• Wednesday, 21:00: rate decision + 21:30 press conference — after the close: Microsoft and Alphabet earnings
• Thursday, 15:30: GDP + PCE inflation index — 16:15: European Central Bank decision — after the close: Amazon earnings
• Wednesday, October 28: Blockchain 100 voting closes at 18:59 (Amman time) — winners will be announced in a dedicated post on Thursday, October 29
• The RLUSD campaign runs through November 20, and the Binance Pick campaign through November 15
Key levels
• Support: $79,240 (Saturday’s low) — then there’s no clear support zone nearby below that
• Resistance: $80,000 (the level being broken and reclaimed) — then $80,238 (tonight’s high) — then $81,300
Two scenarios — analysis, not a firm prediction
• Bullish: Reclaiming $80,000 and closing above it would bring the market back into the $80,000–$81,300 range. The likely catalyst is calm data today and a calm Fed decision tomorrow
• Bearish: A daily close below $79,240 would confirm that the breaks aren’t just fleeting wicks and open the door to a deeper test—and selling could accelerate because the market is heading into the decision below $80,000
Bottom line: The market is heading into the week’s most important 48 hours caught between two levels—$80,000 above and $79,240 below. Tomorrow’s decision will determine which level breaks first.
What do you expect from tomorrow’s decision: a calm hold or a surprise in the remarks? 👇
Source: Kraken / Motley Fool on JPMorgan’s outlook / KuCoin / market calendar / Binance