Bitcoin Trades Between $80,000 and $84,000 Before Oct. 28 Fed Decision

Bitcoin (BTC) traded between $80,000 and $84,000 for nearly two weeks ahead of the Federal Reserve’s Oct. 28 rate decision, as opposing flows kept the market in a narrow range. Bitcoin exchange-traded funds recorded net outflows in each of the past two weeks. Over the same period, Bitcoin holdings on exchanges continued to decline, while long-term holders sold modestly. Funding rates remained elevated, and options pricing favored puts. Together, those measures suggested long positions had not fully unwound and demand for downside protection was increasing.