Why Is the Crypto Market Down Today (October 29)?

The crypto market is back in the red on October 29, with Bitcoin slipping below $80,000 after the Federal Reserve meeting failed to give risk assets the reassurance traders wanted. Bitcoin is trading around $79,700-$80,000, down roughly 1% over the past 24 hours. Ethereum has fallen toward $2,300, Solana is back below $100, and XRP is trading near $1.29. ADA has been one of the weaker large-cap altcoins, losing more than 4% over the same period. The decline is coming from several directions at once. The Fed kept rates unchanged, but inflation concerns remain alive.