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Bitcoin recovers to $80,800 ahead of Fed meeting
Сryptocurrency
Bitcoin recovered to $80,800 following a sharp sell-off over the weekend, as investors assessed large-scale liquidations in the cryptocurrency market ahead of the Fed upcoming interest rate decision.
The Fed meeting, scheduled for October 27–28, is expected to be a key driver for the price of Bitcoin; traders are watching for signals on whether regulators will maintain current interest rates or continue to raise them.
Higher interest rates could put pressure on Bitcoin by strengthening the dollar and reducing demand for riskier assets, whereas a less hawkish tone from the Fed could support a market recovery.
High oil prices are further complicating the situation: Brent crude is trading above $117 amid the conflict involving Iran, fueling concerns about persistent inflation.
On Saturday, Bitcoin fell to $79,146—its lowest level in over a month—before reclaiming the psychologically significant $80,000 mark.
According to Coinglass, more than $810 million worth of cryptocurrency positions were liquidated over a 24-hour period, including approximately $689 million in long (bullish) bets.
Low liquidity over the weekend intensified selling pressure; as Bitcoin dropped below $80,000, leveraged positions began to be forcibly closed. As of 07:53 Moscow time, Bitcoin was trading at $80,936.3, gradually approaching the $81,000 mark.
Bitcoin has also fallen below its 50-day moving average, which sits near $81,700; traders are now watching for potential support levels around $78,400 and $77,876.
Meanwhile, corporations building treasury reserves in Bitcoin are facing increasing challenges in balancing cryptocurrency acquisitions with their financing obligations.
According to Fidelity Digital Assets, approximately 136,000 Bitcoin have been acquired since 2025 through the issuance of perpetual preferred shares.
Companies such as MicroStrategy (NASDAQ) and Strive (NASDAQ) have been increasingly raising capital via preferred shares, though the need to make regular dividend payments may limit future Bitcoin purchases.
Recently, MicroStrategy spent $193 million on the buyback of preferred shares while acquiring only 267 Bitcoin—a move that highlights the competing priorities for the company’s capital.
Separately, Seamus Rocca, CEO of Xapo Bank, stated that high-net-worth Bitcoin investors are increasingly taking out loans against their holdings and seeking ways to generate yield, rather than selling their cryptocurrency.
According to Rocca, institutional investment could support demand in the long term, though regulatory and geopolitical uncertainty remain significant hurdles.
Additionally, it has been reported that hardware wallet manufacturer Keystone experienced a data breach, resulting in the exposure of customer information, including names, contact details, shipping addresses, and purchase history. The company stated that private keys, recovery seed phrases, and payment information were not compromised; however, it warned customers about potential phishing attacks involving fraudulent refund requests and device replacement schemes.
Cryptocurrency prices today: altcoins show mixed performance on Sunday morning
On Sunday, prices across the broader cryptocurrency market moved in different directions, with some assets gaining value while others declined.
Ether, the world’s second-largest cryptocurrency by market capitalization, fell 0.56% to $2,369.34.
XRP, the third-largest cryptocurrency by market capitalization, rose 1.63% to $1.3139.
Solana dipped 0.03% to $102.68, while BNB climbed 1.14% to $748.60.
Cardano dropped 1.84% to $0.2081, and Dogecoin lost 1.08%.
Among memecoins, TRUMP rose 1.12%, while Shiba Inu fell 1.79%.