Crypto market today: Bitcoin slips 0.16% as Fed holds rates; December hike still possible

TradingGain Newsroom·1h ago·29 Oct 2026, 18:30 UTC

Bitcoin fell 0.16% over 24 hours to about $80,755, and most major coins also edged lower, with XRP down 2.42%. Only 115 of 300 tracked coins rose, so the market was mostly flat to slightly weaker. The likely reasons are the Fed's decision to hold rates while two officials voted to raise them, and mixed signals from US economic data.

What moved the market

• The Fed kept rates unchanged, but two officials voted for a hike and a December increase still looks likely, which can weigh on riskier assets like crypto.
• Bitcoin is trading near the average price paid by US spot ETF holders, and Glassnode says about 4 million BTC were bought above $85,000, which could cap any recovery.
• Funding for both Bitcoin and Ethereum is 0.01% over 8 hours, while Bitcoin open interest fell 2.72% in 24 hours, which suggests traders are cutting exposure.
• The Fear and Greed Index is at 51 (Neutral), unchanged from yesterday, so sentiment is calm rather than fearful or excited.

What to watch next

Traders may watch whether Bitcoin holds above support at $80,509 and then $79,710, since a break below could open the way to lower levels. On the upside, resistance sits at $81,954 and then $82,599, and the expiry of about $11 billion in Bitcoin options this Friday could also shape price moves.

Bitcoin levels to watch today

Classic daily pivot levels for BTC, calculated from the last completed daily candle.