FOMC Decision on October 28 Sets Up Major Test for Bitcoin and Ethereum

The FOMC decision on October 28 approaches as Bitcoin struggles near $80,000 and Ethereum trades around $2,315. Investors expect the Federal Reserve to maintain interest rates, but persistent inflation and weakening employment data have raised concerns about its next policy move. The total market cap of cryptocurrencies was around $2.67 trillion as of October 27th, showing a decline of about 0.68% over 24 hours as Bitcoin and Ethereum struggled under pressure amid expectations of monetary policy and institutional demand. The Federal Reserve’s schedule indicates that the FOMC decision is expected to come on Wednesday at 2 p.m. Eastern time, followed by a press conference held by Chair Kevin Warsh at 2:30 p.m. without new quarterly projections.

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