Crypto Market Steadies Ahead Of Fed Decision

Cryptocurrency markets recovered some ground on October 28, 2026. Bitcoin moved back above the $80,000 level, and traders stayed cautious ahead of the US Federal Reserve's latest interest rate decision, according to a report from Malaysia's BusinessToday.

According to that report, Bitcoin rose 0.6% over the previous 24 hours to about $80,717. Ethereum gained 0.79% to roughly $2,345, slightly outperforming the largest cryptocurrency. The total cryptocurrency market capitalisation rose 0.5% to approximately $2.66 trillion. BusinessToday said investors remained wary of wider macroeconomic uncertainty despite the modest gains.

The Fed's decision was the main focus. BusinessToday reported that investors largely expected interest rates to stay unchanged. Traders were looking instead for hints about the direction of monetary policy in December. The report said elevated US Treasury yields and a stronger US dollar had been influencing appetite for riskier assets, a group that includes cryptocurrencies.

A separate preview from the outlet Coinpedia gave similar expectations. It cited CME FedWatch data that implied an 88% probability of no rate change at this meeting. It also noted that New York Fed President John Williams had said there was no urgency to raise rates again immediately. Coinpedia said traders would watch Fed Chair Kevin Warsh's press briefing for clues about the next policy move. It also listed major US economic data due this week, including a GDP report.

The rebound followed a period of selling pressure. Investing.com, in a report carried with a Reuters credit, said Bitcoin was holding around $80,400 on Sunday, October 25. It had steadied after a sharp weekend selloff, and investors were assessing heavy cryptocurrency liquidations ahead of the Fed meeting. Bitcoin's return above $80,000 on Wednesday therefore offered some relief after those losses. BusinessToday described the recovery as fragile, and said Ethereum's gains suggested a tentative improvement in sentiment across major digital assets.

Traders were also watching a large derivatives event. BusinessToday said a substantial amount of Bitcoin options contracts was scheduled to expire on October 30. Coinpedia put the amount at roughly $11.1 billion to $12.2 billion in Bitcoin options expiring on Friday. It identified $78,000 as a key support level, meaning a price area where buyers have previously stepped in. Large options expiries are often followed by changes in trading activity and volatility, though the direction of any move is not predictable.

Institutional fund flows were another factor on traders' watchlists, the BusinessToday report said. The article said near-term cryptocurrency moves were expected to remain sensitive to the Fed's policy signals. It added that whether Bitcoin could hold above $80,000 would be a key focus for market participants.

Crypto prices have moved with broader financial conditions in recent sessions. Central bank decisions, Treasury yields and dollar strength can affect demand for risk assets generally. Because the market expected no change in rates at this meeting, attention centred on the Fed's guidance and the tone of its press conference. Any new information on how policymakers view inflation and economic growth could affect sentiment across asset classes, but the reports cited here do not suggest a specific outcome.

The figures above reflect prices and market capitalisation at the time of the BusinessToday report. Cryptocurrency prices change continuously, and different data providers report slightly different totals depending on when and how they measure them. Coinpedia, for example, cited a total market capitalisation of about $2.75 trillion earlier in the week, before the modest recovery described by BusinessToday. This article is for information only and is not financial, investment or tax advice.

This is a news summary for general information only — not financial advice, and nothing here is a recommendation to buy, sell, or hold any asset. Always verify against the original source and do your own research before making a financial decision.