Fed Hold or Binance Shock: What Actually Broke Bitcoin’s $80,000 Support

Bitcoin’s drop below $80,000 owes more to the security incident that hit Binance than to the Federal Reserve’s rate hold, if liquidation figures from the days around the decision are any guide. The FOMC left its target range at 3.75%-4% on Wednesday, October 28, in a 10-2 vote, with Governor Lisa Cook and Cleveland Fed President Beth Hammack dissenting for a quarter-point increase. The statement itself carried a hard line on prices: “Inflation remains elevated.