Bitcoin hovers near $80,000 and Ethereum tests $2,300 as macro and geopolitical risks weigh on crypto markets

Bitcoin and Ethereum held near key support levels as investors assessed Federal Reserve policy, inflation data, institutional ETF flows and geopolitical uncertainty.

In the past 24 hours, Bitcoin was up 0.13% and Ethereum was up 0.16%. Among the major altcoins, BNB, Solana, Tron, Hyperliquid, Dogecoin and Cardano gained upto 2.14% whereas XRP was down 0.14%.

Riya Sehgal, Research Analyst, Delta Exchange said Bitcoin remains bearish on the four-hour timeframe, trading below its major moving averages and maintaining a lower-high, lower-low structure.

The global crypto market capitalisation went up 0.16% to $2.68 trillion, according to the data on Coinmarket cap.

Nischal Shetty, Founder, WazirX said Crypto markets remained steady despite rising energy prices and cautious global trading and US spot Bitcoin ETFs recorded $137.9 million in daily net outflows, while Ethereum ETFs attracted $4.4 million.

Shetty further said that Bitcoin and Ethereum nevertheless remained above their immediate support regions, suggesting spot demand and derivatives positioning absorbed part of the institutional selling

Over the last week, Bitcoin was down 2.43% and Ethereum was down 3.98%. Among the major altcoins, XRP, Solana, Dogecoin, Hyperliquid and Cardano corrected upto 6.28% whereas BNB and Tron gained upto 2.04%.

Prateek Gupta, Head of Business, Mudrex said Bitcoin dropped to $79,000 over the weekend, its lowest since September 18 and despite late-week selling, US spot Bitcoin ETFs recorded net inflows of over $300 million for the week. Exchanges still show a net outflow of about 1,500 Bitcoin per day on a 30-day average, suggesting limited selling pressure

Markets await the Fed decision on Wednesday, inflation data on Thursday, and $11 billion in Bitcoin options expiry on Friday, said Gupta.

Market perspective

CoinSwitch Markets Desk: BTC steadied near $80,400 after a weekend selloff pushed prices to a monthly low of $79,146. Markets are focused on the US Federal Reserve’s October 27–28 meeting for signals on interest rates, which could influence risk appetite and the dollar.

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Vikram Subburaj, CEO, Giottus: Bitcoin is trading near $80,200 after retreating from last week’s recovery. Selling pressure and uncertainty ahead of the US Federal Reserve’s October 27–28 meeting are weighing on sentiment. Investors should avoid trying to catch a falling market. Consider staggered entries, maintain measured position sizes and monitor Bitcoin’s $80,000 support, ETF flows and Fed signals before increasing exposure.

Avinash Shekhar, Co-Founder & CEO, Pi42: Bitcoin’s pullback towards $80,000 reflects a market navigating macroeconomic uncertainty rather than a shift in crypto’s underlying relevance. For investors, the focus should be on whether Bitcoin can stabilise around current levels and regain upward momentum as macroeconomic uncertainty clears.