From The Economic Times · Surbhi Khanna · · 1m 10s
Bitcoin near $80,000 as crypto markets face Fed risks
Bitcoin hovers near $80,000 while Ethereum tests $2,300 amid Fed policy and geopolitical tensions.
In brief
Bitcoin hovers near $80,000 while Ethereum tests $2,300 amid Fed policy and geopolitical tensions. Bitcoin traded near $80,340 and Ethereum at $2,327 as macroeconomic risks and Fed policy weigh on crypto markets. Originally reported by The Economic Times.
Bitcoin near $80,000
Bitcoin traded near $80,340 and Ethereum tested $2,327 on Monday as macro and geopolitical risks dominated sentiment.
Crypto market capitalisation
Global crypto market capitalisation rose 0.16% to $2.68 trillion according to Coinmarket cap data.
Bitcoin bearish trend
Riya Sehgal, Research Analyst at Delta Exchange, said Bitcoin remains bearish on four-hour timeframe with lower-high, lower-low structure.
Ethereum support levels
Ethereum remains relatively weaker with 2,290, 2,300 acting as immediate support and 2,360, 2,400 as key recovery zone.
Bitcoin ETF outflows
US spot Bitcoin ETFs recorded $137.9 million in daily net outflows while Ethereum ETFs attracted $4.4 million.
Market focus on Fed
Markets await Federal Reserve's October 27, 28 meeting for interest rate signals that could influence risk appetite and the dollar.
Bitcoin price outlook
Investors should avoid catching falling market and monitor Bitcoin's $80,000 support, ETF flows and Fed signals before increasing exposure.
The short version
Bitcoin traded near $80,340 and Ethereum at $2,327 as macroeconomic risks and Fed policy weigh on crypto markets.
