Bitcoin Retakes $80k Price Range Ahead Of US Fed Rate Policy

Bitcoin Retakes $80k Price Range Ahead of US Fed Rate Policy

Bitcoin (BTC) price rebounded 0.90% to $80,729.28 on Wednesday, closely tracking a 0.94% rise in the total crypto market cap as investors returned to position ahead of Fed rate decision.

BTC price change of 0.90% nearly matched the total crypto market’s gain of 0.94%. More significantly, correlation data shows a 90.6% link with the S&P 500 and a 92.1% link with Gold over the same period.

This indicates the move was not coin-specific but part of a broader, macro-driven shift in asset prices as markets positioned ahead of the Federal Reserve’s interest-rate decision.

Bitcoin is currently trading as a macro asset, with its short-term direction heavily influenced by traditional market sentiment and liquidity expectations rather than internal crypto catalysts.

Investors are monitoring the Fed’s policy statement and any shifts in rate expectations on October 28, which will likely dictate near-term direction for correlated assets.

After two sessions of net outflows totaling $773.4 million, U.S. spot Bitcoin ETFs recorded a $110.34 million net inflow on October 26, entirely from BlackRock’s IBIT.

Concurrently, perpetual futures open interest rose 9.8% and the average funding rate jumped 72.6%, signaling renewed long positioning.