Market Todayâ–Ľ Bearish
Why is crypto down today? Bitcoin Down 1.3% Below $80K as Hawkish Fed Hold Hits Risk Assets
TradingGain Newsroom··28 Oct 2026, 18:30 UTCBitcoin fell 1.32% in the last 24 hours to about $79,872, and most of the market moved lower too, with only 60 of 298 tracked coins rising. The most likely reasons are a hawkish Federal Reserve hold, which has traders pricing a 78% chance of a December rate hike, and a tech stock selloff that pushed investors away from riskier assets. Leveraged traders also took heavy losses, with $356 million in crypto futures liquidated.
Updated 10:00 ISTRefreshes every 2 hours from live Binance futures data
Market breadth60 / 298coins up in 24h
Fear & Greed51Neutral · yesterday 51
BTC funding0.0005%per 8 hours
BTC open interest-0.10%24h · $7.78B
What moved the market
- The Fed kept rates at 3.75% to 4% but took a tougher tone, and two officials voted for a hike in a 10-2 decision.
- Bitcoin fell below $80,000 as weakness in Samsung-linked tech stocks pushed investors away from riskier assets.
- $356 million in crypto futures liquidations show leveraged traders took heavy losses during the drop.
- Bitcoin funding is 0.0005% and open interest fell 0.1% in 24 hours, so leveraged bets were not building up. Fear & Greed is steady at 51 (Neutral).
What to watch next
Traders may watch whether Bitcoin holds support at $80,509 and then $79,710. A move back above resistance at $81,954 and $82,599 would point to a recovery, while a break below $79,710 would keep pressure on the market.
Bitcoin levels to watch today
Resistance 2$82,599
Resistance 1$81,954
Pivot$81,155
Support 1$80,509
Support 2$79,710
Classic daily pivot levels for BTC, calculated from the last completed daily candle.
BTCLive chartOpen full chart →
Written by TradingGain from live Binance futures data, the Fear & Greed Index and today's top stories.Live update →