Bitcoin Nears $81,000 as Markets Await the Fed Decision

By Kevin · 2026-10-28 · News

Oct. 28 (CandyPulse) — Two days after slipping under $80,000, Bitcoin has bounced back. The world's largest cryptocurrency traded near $80,850, up about 1.5% in 24 hours, as markets waited for the Federal Reserve's rate decision on Oct. 28.

Key takeaways

Bitcoin traded near $80,850, up about 1.5% in 24 hours
The Fed's decision is due at 2:00 p.m. ET, with Chair Kevin Warsh speaking at 2:30 p.m. ET
Markets price about a 90% chance the Fed holds rates at 3.75%–4.00%
The bigger worry is December, with traders pricing a high chance of another hike
Analysts watch support near $79,000 and resistance near $81,700

What traders are watching

Factor	Detail
Fed decision	2:00 p.m. ET, Oct. 28
Expected outcome	Hold at 3.75%–4.00%
Press conference	Chair Kevin Warsh, 2:30 p.m. ET
Key risk	Signals of a December hike
Support / resistance	~$79,000 / ~$81,700

Why the Fed matters for Bitcoin

Higher interest rates make borrowing more expensive and tend to pull money out of riskier assets such as crypto. That's why any hint of another hike can push Bitcoin lower, and why a calmer message can spark a relief rally.

A brighter view

Not everyone is gloomy. Galaxy Research's Alex Thorn argues the bear market ended in June, and that Bitcoin is now in the kind of accumulation phase that has come before every major advance. That's one view, not a forecast, but it shows how split sentiment is.

How we got here

Bitcoin broke below $80,000 on Oct. 26 as traders cut risk, after a week of mixed ETF flows. For the long view, read JPMorgan's 10-year Bitcoin forecast.

What's next

The Fed's statement and Warsh's tone will set Bitcoin's direction for the rest of the week. Track the live price on our Bitcoin price today page and our Bitcoin topic page.

Disclaimer: This article is for information only and is not financial advice. Crypto assets are volatile and can lose value. Always do your own research before making any investment decision.