Bitcoin price slips below $80,000 after the Fed holds rates

The Bitcoin price slipped below $80,000 on Thursday after the Federal Reserve held interest rates steady. The Fed kept its range at 3.75 to 4.00 percent on 28 October.

Bitcoin briefly rose above $81,000 after the decision. It then reversed. By 03:34 UTC on 29 October it traded near $79,732, down 1.42 percent over 24 hours, according to Brave New Coin using CoinPaprika data.

How the wider market moved

Other tokens fell harder. Ether traded at $2,303, down 2.09 percent. XRP fell 3.03 percent to $1.29. The total crypto market value dropped 1.41 percent to about $2.80 trillion.

We reported yesterday on ETF inflows returning near $80,000. The Fed decision is the new development.

What the Fed said

CoinDesk reported that the vote was 10 to 2, with two officials dissenting. The statement said inflation remains elevated. Chair Kevin Warsh said more information would help decide the right policy stance.

CoinDesk also cited CME FedWatch data. It put the chance of a quarter-point hike in December at 86 percent, up from 78 percent a day earlier. Traders read that as a risk for assets that thrive on cheap money.

Why the Bitcoin price reacted

Crypto often trades as a bet on liquidity. Higher rates for longer make safer assets more attractive. That pressure can outweigh good news from funds or companies.

Two dates now matter. US midterm elections fall on 3 November. The next Fed meeting follows in early December.

One day of trading proves little. Prices can swing several percent in hours, and the figures above will already be out of date.

Fact basis: CoinDesk (28 October 2026) and Brave New Coin (29 October 2026). This is news, not investment advice. Crypto is volatile and you can lose money.