Bitcoin Holds $80,000 While Ethereum, XRP, Dogecoin Trade Flat

Bitcoin traded largely flat for a third consecutive day as the Federal Reserve held rates steady in October.

Notable Statistics:

• Coinglass data shows 58,424 traders were liquidated in the past 24 hours for $165.54 million.       
• SoSoValue data shows net inflows of $175.99 million from spot Bitcoin ETFs on Tuesday. Spot Ethereum ETFs saw net outflows of $60.22 million.
• In the past 24 hours, top gainers include Bitway, Pepe and MemeCore.

Notable Developments:

• Ripple’s RLUSD Earns First-Ever Moody’s Investment-Grade Stablecoin Rating as Market Cap Doubles
• Bitcoin Undervalued at $80,000? Expert Says It’s ‘Climbing Wall of Worry’
• Ripple CEO Opens Conference ‘With a Bang:’ The 4 Announcements He Made
• Scaramucci Calls Elizabeth Warren ‘the Joke of Jokes,’ Accuses Her of Echoing Bank Lobbyists
• Ripple Expands From Robinhood to Coinbase as RLUSD Gains Ground
• Scott Bessent Has a New Strategy to Keep the Dollar on Top: ‘Win in the Digital Asset Stack’

Trader Notes:

Crypto chart analyst Ali Martinez predicts Bitcoin could face selling pressure following the FOMC decision, with whale profit-taking and weakening U.S. demand signaling downside risks.

• Whale selling: Large holders realized almost $156 million in profits and reduced holdings by 8,162 BTC, worth roughly $664 million, over 24 hours.
• Weak U.S. demand: Coinbase Premium Index dropped to -0.17, one of its lowest readings since September, suggesting weaker buying interest from U.S. investors.
• FOMC volatility: Bitcoin’s initial reaction has historically been relatively muted, with clearer price direction often emerging over the following 24 hours and persisting for a week.

In a bearish scenario, losing $81,000 support could trigger a decline toward $77,000, followed by $67,000.

On the other hand, holding $81,000 and reclaiming $84,500 in a bullish scenario could open the door to $92,000 and potentially $104,000.

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