Bitcoin Fell to $80,297 Before Fed Decision as Early Gains Faded

Bitcoin (BTC) reversed early U.S. session gains Wednesday, Oct. 28, and fell to $80,297 as its 50-day average capped prices before the Federal Reserve’s rate decision. BTC failed to sustain a move past $81,687. Its 50-day simple moving average stood at $81,831, above the price, and it later touched $80,297 on Bitstamp. The session followed Bitcoin’s first close below the 50-day average since August , ending a 66-day stretch above it. Ahead of the Fed’s rate decision, market pricing put the chance of officials holding the target range at 3.75% to 4% at 90.6%. Traders were also focused on Fed Chair Kevin Warsh’s remarks and assessment of the economy. The Fed decision and the week’s major technology earnings could shape views of the AI sector.

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