Bitcoin Fell to $80,297 Before Fed Decision as Early Gains Faded

Bitcoin (BTC) reversed early U.S. session gains Wednesday, Oct. 28, and fell to $80,297 as its 50-day average capped prices before the Federal Reserve’s rate decision. BTC failed to sustain a move past $81,687. Its 50-day simple moving average stood at $81,831, above the price, and it later touched $80,297 on Bitstamp. The session followed Bitcoin’s first close below the 50-day average since August , ending a 66-day stretch above it. Ahead of the Fed’s rate decision, market pricing put the chance of officials holding the target range at 3.75% to 4% at 90.6%.