Bitcoin rebounds to US$81,000 but faces weakest October in 6 years
Bitcoin has climbed back above the critical US$81,000 baseline. This 24-hour rebound does not erase a difficult month. The digital asset remains in its weakest October performance in six years, down roughly 4.2 per cent, while conflicting forces keep price action in a sideways range. The market has spent a long time without a decisive […] The post Bitcoin rebounds to US$81,000 but faces weakest…
Bitcoin surged above $81,000 in a 24-hour rebound, but the climb comes as the cryptocurrency experiences its weakest October performance in six years, down about 4.2 percent. The market remains in a stagnant range, with no clear break or decisive move. The Federal Reserve's decision to keep the federal funds target range steady at 3.75 to 4.00 percent has bolstered support for Bitcoin, as risk appetite expanded following the central bank's vote.
Spot US Bitcoin ETFs saw net inflows of $110.34 million and $176 million on October 26 and 27, respectively, providing a strong price floor. However, options traders are bracing for potential significant swings, as a US$11 billion options expiry is nearing. Institutional inflows and the absence of a liquidity shock have helped stabilize the market, but the underlying factors suppressing upward movement, such as options traders' hedging sensitivities and technical resistance, remain active.
Macroeconomic factors, including rising crude oil prices, elevated Treasury yields, and upcoming inflation reports, continue to pose challenges for Bitcoin's upward trajectory.
Written by urgent.news from e27's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
