Bitcoin's $80K Support Fails Before Fed, Earnings — SkimNews
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- Bitcoin is on track to finish October down 4% near $80,000, diverging from its “Uptober” average of 26.1% gains since 2010; after losing 3.9% in October 2025, it fell another 17.5% in November against a typical 35% gain.
- CoinGlass showed nearly $150 million in Bitcoin long positions liquidated over two hours Saturday as BTC fell to $79,145; a $73 million bid wall sat above $79,300, while offers clustered around $81,000.
- Benjamin Cowen called Bitcoin’s trips to $87,000 in late September and early October a “fakeout” and said weakness should continue through year-end, citing historical pressure in U.S. midterm election years; the resistance zone includes the $87,490 yearly open and $87,165 20-month moving average.
- Federal Reserve decision Wednesday carried more than 90% odds of holding rates at 3.75%-4%, with a 12% hike probability cited in Robin Brooks’ market read; macro analysts were focused on language from Fed chair Kevin Warsh’s press conference.
- PCE index data is due Thursday, after last month’s reading of 3.4% year over year came in below expectations; analysts attributed the lower figure to calculation changes in certain index components.
- JPMorgan Asset Management’s Raisah Rasid said investors had shifted from rewarding AI capex to rewarding return on capital; tech selling coincided with the KOSPI closing 1.5% lower Monday at 5,469 and the Nasdaq ending Friday at 25,955, its lowest close since Aug. 3.
- Microsoft and Alphabet are scheduled to report after Wednesday’s close, with Amazon and Intel due Thursday; roughly 20% of S&P 500 companies will report during the week, and Thursday also brings the U.S. Q3 GDP release.
Why it matters: A pause is more than 90% priced for the Fed’s 3.75%-4% range, so Wednesday’s decision itself offers little new direction. With Thursday’s PCE release and reports from Microsoft, Alphabet, Amazon and Intel, Bitcoin traders face $80,000 support under strain after nearly $150 million in long liquidations.
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