Crypto market today: Bitcoin flat at $80,527 (-0.05%) ahead of Fed decision
Bitcoin was nearly unchanged over 24 hours, down 0.05% at $80,527, while about half of the 268 tracked coins rose. Ether fell 0.65%, XRP fell 0.88%, and Dogecoin rose 1.32%. Most traders are waiting for the U.S. Federal Reserve's rate decision, which is widely expected to be a hold.
What moved the market
- The Fed decision is due today at 2 p.m. ET. A hold is seen as nearly certain, but a firm tone could pressure risk assets like Bitcoin.
- US spot Bitcoin ETFs took in $286 million over two days, cutting October's net outflows to $26 million. This points to steady institutional demand.
- Funding rates are small and positive, at 0.0086% for Bitcoin and 0.0089% for Ether over 8 hours. This suggests leverage is not pushing prices sharply in either direction.
- Sentiment is neutral at 51, up from 48 yesterday. Bitcoin open interest rose only 0.1% in 24 hours, so positioning has changed little.
What to watch next
Bitcoin's first support is $79,801, with a second at $78,734, while resistance sits at $81,603 and $82,338. Traders may watch whether Bitcoin holds above support or breaks above resistance after the Fed announcement.
Bitcoin levels to watch today
Classic daily pivot levels for BTC, calculated from the last completed daily candle.
