Bitcoin Trades Between $80,000 and $84,000 Before Oct. 28 Fed Decision

Bitcoin (BTC) traded between $80,000 and $84,000 for nearly two weeks ahead of the Federal Reserve’s Oct. 28 rate decision, as opposing flows kept the market in a narrow range. Bitcoin exchange-traded funds recorded net outflows in each of the past two weeks. Over the same period, Bitcoin holdings on exchanges continued to decline, while long-term holders sold modestly. Funding rates remained elevated, and options pricing favored puts. Together, those measures suggested long positions had not fully unwound and demand for downside protection was increasing. Bitcoin has found support around $80,000 several times over the past month, an area covered in earlier Bitcoin market coverage . Downside confirmation requires all three conditions: Bitcoin falling below $79,800, weekly ETF net outflows exceeding $500 million, and exchange flows turning net positive.

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