Bitcoin holds above $80,000 as investors await Fed decision and tech earnings

Bitcoin (BTC), Ethereum (ETH), and XRP all traded higher on Wednesday, buoyed by optimism ahead of major US technology companies’ earnings releases and a widely anticipated Federal Reserve interest rate announcement. Microsoft and Alphabet are set to report their third-quarter results on Wednesday, with Amazon scheduled to follow on Thursday. Market participants are closely watching whether these companies can justify ongoing substantial investments in artificial intelligence infrastructure. Analysts stated that strong financial results from these firms could address concerns about current hyperscaler stock valuations and help improve overall sentiment in both equities and crypto markets. Conversely, weaker-than-expected earnings could trigger further declines in technology stocks and slow the ongoing cryptocurrency recovery.

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