BTC $79,948 
ETH $2,307 
USDT $0.9987 
BNB $741.32 
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USDC $0.9993 
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FIGR_HELOC $1.02 
ZEC $1,224 Altcoins · Explained
Bitcoin slips below $80,000 as Fed meeting and ETF outflows weigh on crypto
Bitcoin, ether, XRP and BNB fell as traders cut risk before the Federal Reserve's Oct. 27-28 meeting, with ETF withdrawals adding pressure.
Key takeaways
- Fed in focus. The Federal Reserve meets Oct. 27-28, and traders see roughly a 90% chance of no rate change, CoinGape reported.
- ETF outflows. Spot bitcoin ETFs lost $635.6 million on Oct. 22, with a further $137.9 million leaving on Oct. 23, while ether funds shed $111 million.
- Leverage unwound. Long liquidations of $121.4 million outpaced short liquidations of $60.03 million in the derivatives snapshot CoinGape cited.
What happened
Cryptocurrency prices fell on Monday as investors trimmed risk ahead of a week packed with central bank, inflation and corporate earnings events. Coinpedia reported bitcoin trading below $80,000 at $79,863.55, a decline of 1.6% over 24 hours and 3.8% across the past week, citing CoinGecko data. Ether dropped 2.7% to $2,310.09, XRP lost 2.6% to $1.28 and Solana slipped 2.2% to $100.59, the outlet said.
CoinGape's snapshot showed bitcoin near $80,250, down 0.51% over the same period, within a daily range of $79,280 to $80,710. It placed ether around $2,324 after a session high of $2,355, BNB 0.23% lower at $743.85 and XRP down 0.66% at roughly $1.30, with an intraday low of $1.27. The outlet also noted that the Fear and Greed Index had fallen to 43, a reading it described as reflecting weaker confidence.
The two reports differ in the size of the declines they record, but they point to the same set of forces: uncertainty over Federal Reserve policy, sustained withdrawals from spot bitcoin and ether exchange-traded funds, a wave of liquidations among leveraged long positions and tensions in the Middle East.
First $1.52Latest $1.29-15.1% over the period
Points are daily observations, not closing prices.
Why it matters
Attention is fixed on the Federal Reserve, which meets on Oct. 27-28. CoinGape reported that traders assign roughly a 90% probability to no change in rates, which would keep the target range at 3.75% to 4.00%. Coinpedia noted the meeting falls in the same week as US PCE inflation data and earnings from about 20% of S&P 500 companies, a combination that can prompt investors to reduce exposure to volatile assets. For crypto, the immediate question is whether prices hold above the cluster of liquidations Coinpedia identified near $78,800. It said a sharp move toward $76,000 would point to a genuine downtrend, while continued choppy trading would suggest another short-lived range that traps buyers on brief rallies.
What the data shows
ETF flows have been a clear drag. CoinGape reported that spot bitcoin ETFs shed $635.6 million on Oct. 22, with BlackRock's IBIT accounting for $254 million, while spot ether funds lost $111 million, including $75.45 million from ETHA. Bitcoin funds gave up a further $137.9 million on Oct. 23. Derivatives data cited by the outlet showed $181.43 million in liquidations, of which $121.4 million were longs and $60.03 million were shorts, alongside an 84.81% rise in daily volume to $726.85 billion and a 2.16% increase in open interest to $341.55 billion.
Background
Bitcoin has struggled to recover since an unsuccessful push toward $85,000, according to CoinGape. Flows into and out of spot ETFs have become a widely watched gauge of institutional demand, and several consecutive days of net redemptions have coincided with softer prices. Geopolitical risk has added another layer: CoinGape reported that Brent crude recently topped $117 a barrel amid heightened regional tensions linked to the war between the US and Iran, raising the prospect that energy costs keep inflation elevated and complicate the Fed's decisions.
What is still unclear
The magnitude of Monday's moves was reported differently. CoinGape's figures showed single-day declines of well under 1% for bitcoin, BNB and XRP, while Coinpedia recorded losses of 1.6% to 2.7% across major tokens, suggesting the snapshots were taken at different times; neither report specified the exact timing. CoinGape also cautioned that the liquidation period it cited could not be independently verified, and noted that high open interest alongside low prices may hint at bearish positioning without confirming traders' intent.
What to watch
Traders will look to the Fed's statement on Oct. 28 and the guidance that accompanies it. The PCE inflation reading and the flow of corporate earnings later in the week are also likely to shape appetite for risk. On the crypto side, daily ETF flow figures, derivatives open interest and funding, and whether bitcoin can hold above the liquidation zone near $78,800 are the indicators market participants are likely to monitor.
Questions readers ask
Which cryptocurrencies fell on Monday?
CoinGape reported declines in bitcoin, ether, BNB and XRP, while Coinpedia also recorded a 2.2% drop in Solana to $100.59.
Why are crypto prices falling?
The reports point to uncertainty before the Federal Reserve's Oct. 27-28 meeting, net outflows from spot bitcoin and ether ETFs, heavy liquidations of long positions and Middle East tensions that have pushed Brent crude above $117 a barrel.
What levels are traders watching?
Coinpedia identified a large cluster of liquidations near $78,800 and said a move toward $76,000 would signal a genuine downtrend, while CoinGape noted bitcoin's failed attempt to reach $85,000.
