A year ago, BTC was around $110K. Today it sits near $80K, and two Fed officials wanted to RAISE rates. Is this just a dip, or a new phase?
๐ Market Snapshot
On October 29, Bitcoin traded near $80,000, about $30,000 below where it was a year ago. It is still roughly a third below its October 2025 high of $126,198.
๐ฆ What Did the Fed Do?
On October 28, the Fed kept rates at 3.75%-4%, with a 10-2 vote. Here is the interesting part: Lisa Cook and Beth Hammack both wanted a 0.25% hike. So the "hold" does not mean tightening is over. A December hike is still on the table.
๐ How Did the Market React?
After the decision, BTC rose to $81,788, then fell to $79,710 overnight as a selloff in chip stocks spread to crypto. Bitcoin is still moving closely with tech stocks instead of telling its own story.
โ The Good News: ETF Buying
US spot Bitcoin ETFs took in $424 million over three days. Big money is buying the dip, but it has not been enough to hold the price up.
โ ๏ธ The Risk: Long-Term Holders Under Water
According to Glassnode, most long-term holders are now sitting on a loss, and more than half of all coins were bought above today's price. That means any rally toward $85,000 could meet heavy selling pressure.
๐๏ธ Regulation Is Still Stuck
The CLARITY Act failed in the Senate 49-50 on September 15, so clear US crypto rules are still a long way off.
๐ What to Watch Next
โข $80K support: a break below could increase fear
โข $85K resistance: sellers may show up here
โข US data: today's PCE inflation report, then jobs data on November 6
โข The December Fed meeting: hike or hold will likely set the next direction
๐ง Final Take
The market is in wait-and-see mode. ETF buying gives support, but high interest rates and holders sitting at a loss are capping the upside. Avoid heavy leverage and only risk money you can afford to lose.
What do you think: does BTC hold $80K, or retest lower? Drop your view below ๐
Disclaimer: This is not financial advice. It is for information only. Always do your own research (DYOR).