Bitcoin back above $80,000 as Fed begins two-day meeting; ether up about 1.4%
Bitcoin traded at about $80,579 as of 17:50 GMT on Tuesday, after slipping below $80,000 in European morning trading. US spot bitcoin ETFs took in $110 million on Monday, CoinDesk reported, citing Farside Investors.
Bitcoin moved back above $80,000 on Tuesday 27 October as the US Federal Reserve began a two-day policy meeting, with its interest rate decision due on Wednesday.
As of 17:50 GMT, bitcoin was at about $80,579, up 0.6% over 24 hours, according to CoinGecko data. Ether was at about $2,349, up 1.4%, XRP at about $1.32, up 2.0%, BNB at about $750 and solana at about $101, little changed.
Earlier on Tuesday, bitcoin slipped below $80,000 to near $79,700, down 0.4% since midnight GMT, CoinDesk reported. It said crypto did not follow a rally in Asian technology shares, in which South Korea’s Kospi rose 3.1%, and that the CoinDesk DeFi index fell 1.8%, the most of its indexes, with aave down 3.6%.
US spot bitcoin exchange-traded funds took in $110 million on Monday, ending two days of outflows, CoinDesk reported, citing Farside Investors. It said the CME FedWatch tool showed about a 90% probability that the Fed would leave rates unchanged on Wednesday.
See also: Bitcoin near $80,000 on Monday.
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