Bitcoin Crypto Price Tests $80,000 Support Ahead of Fed Decision

Key Insights Bitcoin crypto exchange net outflows reached 14,942 BTC, a five-week daily high. Holding $80,000 could support a rebound to 82,500-84,000 if exchange balances keep falling. A break below $79,000 could weaken the outlook ahead of Fed, GDP, and PCE data. Bitcoin crypto traders are watching $80,000 after Santiment identified the largest daily net exchange outflow in five weeks. Its tracked wallets recorded 14,942 BTC in net outflows on October 27, or about 14,900 BTC. The withdrawals suggest holders are moving coins off crypto exchanges , where they could be sold immediately. Bitcoin traded near $80,500 Tuesday, after ranging from about $79,400 to $80,800. The Federal Reserve’s decision on Wednesday and the GDP and PCE releases on Thursday could add volatility.

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