Bitcoin briefly falls below $80,000 amid AI concerns and Fed meeting anticipation
On Monday, Oct. 26, Bitcoin slipped under $80,000, dropping as much as 1.4% to below $79,300 before rebounding to $80,440 later in the session. The dip was linked to broader risk‑off sentiment driven by worries over AI‑related valuations and the upcoming Federal Reserve policy meeting. Investors withdrew $772.4 million from U.S.‑listed spot Bitcoin ETFs during the preceding week.
Why it matters
The withdrawal of $772.4 million from spot Bitcoin ETFs signals reduced investor appetite for crypto exposure amid heightened market stress. The price hovering near the $80,000‑$81,500 cost‑basis range for these ETFs could influence future inflows or outflows as traders assess support levels.
Key facts
- 1Bitcoin fell as much as 1.4% to under $79,300 during the dip. finance.yahoo.com
- 2Investors pulled $772.4 million from U.S.-listed spot Bitcoin ETFs last week. finance.yahoo.com
- 3Bitcoin was $79,785 at 08:07 UTC and rose to $80,440 by 09:40 UTC. finance.yahoo.com
- 4The price was about 4% lower than the $84,080 level on Oct. 22. finance.yahoo.com
- 5The Federal Reserve’s Oct. 27‑28 policy meeting follows a target range of 3.75%‑4% set in September. finance.yahoo.com
- 6Rate‑futures priced a 90.6% chance that the Fed will hold the current range and a 9.4% chance of a quarter‑point hike. finance.yahoo.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.