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Bitcoin has fallen 0.94% to USD 79,597.48 over the past 24 hours as investors weighed Wednesday’s Federal Reserve decision and a busy week of technology earnings. The decline pushed the cryptocurrency below USD 80,000 even as U.S. stocks began the week higher.
A pause in purchases by Strategy, the largest corporate Bitcoin holder, added to the cautious mood across the crypto market.
The Federal Reserve will announce its interest rate decision on October 28 after a two-day policy meeting. Traders largely expect officials to leave rates unchanged, but attention has shifted to the central bank's language on inflation and future borrowing costs. A more restrictive outlook could weigh on demand for Bitcoin and other risk-sensitive assets.
Investors are also preparing for quarterly earnings from Microsoft and Alphabet. Both companies carry considerable weight in U.S. stock indexes, and their results could influence trading across financial markets. Bitcoin failed to follow Monday's technology-led recovery in equities, with buyers remaining cautious ahead of the announcements.
Elsewhere, major cryptocurrencies recorded mixed performances on Tuesday. Ether and Solana moved lower, while XRP gained after Ripple secured final U.S. approval for its national trust bank. Bitcoin's latest decline also took its price beneath the USD 80,000–USD 87,000 range that had shaped much of its trading over the past month.
Strategy reported no Bitcoin purchases or sales during the week ending October 25. The company also made no sales under its at-the-market share program. Its Bitcoin holdings remained unchanged at 848,517 BTC, acquired for approximately USD 64.02 billion at an average price of USD 75,446 per coin.
Instead, Strategy spent approximately USD 204.9 million repurchasing 2,068,459 shares of its STRC preferred stock using cash reserves. The company did not explain why it made no additional Bitcoin purchases. The pause came as Bitcoin struggled to maintain support above USD 80,000.
Meanwhile, U.S. spot Bitcoin exchange-traded funds recorded USD 110 million in net inflows on October 26, according to SoSoValue. The inflows followed approximately USD 774 million in withdrawals over the previous two trading sessions.
However, the recovery did not reverse October's overall withdrawals. The funds had recorded approximately USD 202 million in net outflows for the month through Monday, indicating that recent buying had not fully offset investor redemptions.
Bitcoin struggled to recover its 50-day exponential moving average near USD 80,787 and remained below its seven-day simple moving average. The relative strength index stood at 44.26, indicating weaker buying momentum without reaching oversold territory.
Derivatives data also showed approximately USD 28.38 million in Bitcoin liquidations over 24 hours. These forced position closures accompanied the decline, adding selling pressure as BTC struggled to regain USD 80,000.
The immediate support level stands near USD 79,221, followed by the 200-day exponential moving average around USD 76,380. A sustained break below the first level could expose Bitcoin to further losses.
Conversely, a recovery above USD 80,800 could open the way toward USD 81,480. Traders will assess the Federal Reserve's October 28 policy statement alongside upcoming technology earnings and fresh Bitcoin ETF flow data.
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