Bitcoin below 80000 is back on traders’ screens. The world’s largest cryptocurrency slipped under the psychological $80,000 mark during Asian trading on Monday, October 26, changing hands at roughly $79,800 as sellers kept a firm grip on the market with the Federal Reserve’s policy decision on October 28 now only two days away.
The pullback extends a choppy stretch for digital assets. Bitcoin swung between $79,397 and $80,354 through the session, repeatedly knocking on the underside of the round-number level without managing to reclaim it. Each push back toward $80,000 met fresh supply, a sign that dip-buyers from earlier in the month are now content to sell into strength rather than chase it, keeping bitcoin below 80000 for now.
Ethereum followed the same script. The second-largest cryptocurrency dropped about 1% to $2,306 from $2,329 a day earlier, edging toward the $2,300 line that chart-watchers are treating as the next line in the sand. The joint slide in the two biggest tokens set a cautious tone across the wider market, where most large altcoins also finished in the red.
Bitcoin below 80000: how October 26 unfolded
The day’s price action told a familiar story. Bitcoin below 80000 first showed up in early Asian trading, when a wave of selling pushed the token through the round number in thin liquidity. European and U.S. desks later managed to steady the market, but the recovery stalled just above $80,350, leaving the $79,397 session low uncomfortably close.
That failure to reclaim $80,000 matters more than the size of the drop. Round numbers act as magnets for stop orders and option barriers, and the longer bitcoin below 80000 lingers beneath the round number, the more it tends to act as resistance rather than support. Monday’s 0.4% decline looks modest on paper, but the positioning underneath it suggests buyers are in no hurry to step in front of Wednesday’s Fed announcement.
The session also continued a volatile run for crypto. Both Bitcoin and Ethereum surrendered earlier gains over the past week, and attempts to build a durable bounce have repeatedly faded. For now, the market looks like it is marking time, waiting for a macro catalyst to pick a direction.
Ethereum slides toward $2,300
Ethereum’s roughly 1% slide to $2,306 keeps it pinned near the lower end of its recent range. The $2,329 level it held on October 25 gave way without much of a fight, and $2,300 now stands as the obvious near-term test. A clean break under that figure would likely invite momentum sellers to press the move.
The ETH/BTC cross continues to sag as well, a reminder that when bitcoin below 80000 becomes the story, capital tends to hide in the biggest asset first and ask questions later. Smaller tokens have had little chance to build independent momentum while macro headlines dominate the tape.
Why the Fed’s October 28 decision has crypto on edge
Investor attention has shifted squarely to the Federal Reserve. The central bank announces its latest policy decision on October 28, and uncertainty around the outcome has frozen risk appetite across markets, not just crypto. Rate expectations feed directly into the dollar, bond yields and liquidity conditions — the three variables that have driven Bitcoin’s biggest moves this year.
The logic is straightforward. Easier policy tends to weaken the dollar and push investors toward scarce assets, a combination that has historically favored Bitcoin. Tighter-than-expected signals do the opposite, lifting the dollar and draining enthusiasm for volatile trades. With inflation data still mixed and officials sending varied messages, few traders want to place large bets before Wednesday.
That caution explains the tight $79,397–$80,354 range while bitcoin below 80000 awaits its catalyst. When a binary event sits 48 hours away, intraday ranges usually compress as market makers widen spreads and directional funds stand aside. The real move, in either direction, is likely being saved for the Fed’s statement and press conference.
Oil, geopolitics and the risk-off backdrop
Crypto is not selling off in a vacuum. Geopolitical tensions and elevated oil prices have complicated the outlook for risk assets broadly, lifting input costs and keeping investors alert to supply shocks. When crude rallies on geopolitical risk, the usual market reflex is to cut exposure to the most volatile corners of the portfolio — and crypto sits squarely in that corner.
The result is a market with little positive momentum of its own. Bitcoin below 80000 has put the level firmly back in focus for technicians, while Ethereum’s drift toward $2,300 gives bears a second front to press. Until the macro picture clears, rallies are likely to be treated as selling opportunities.
Key levels traders are watching next
On the downside, the $79,397 intraday low is the first marker. A break beneath it opens the door to a test of the lows from the weekend washout, when forced selling briefly dragged prices far lower. To the upside, a daily close back above $80,000 — and ideally above the $80,354 session high — would signal that buyers are willing to front-run the Fed rather than wait for it.
For Ethereum, the levels are cleaner: $2,300 as near-term support, then the October 25 closing area near $2,329 as the first resistance to clear. A reclaim of both would go a long way toward steadying sentiment across altcoins.
Beyond the charts, the calendar is the real driver. Wednesday’s Fed decision lands alongside a heavy slate of earnings and data, so crypto traders should expect choppy, headline-driven trade into midweek. Position sizing, as ever around the Fed, matters more than prediction.
Sources and Resources
- Bitcoin Falls Below US$80,000 As Ethereum Slides Towards US$2,300 — BusinessToday
- Bitcoin Crashes Below $80,000 as $725 Million Gets Wiped Out — World Reach Daily
Frequently Asked Questions
Why did Bitcoin fall below $80,000 on October 26?
Bitcoin slipped under $80,000 during Asian trading on October 26 as sellers stayed in control ahead of the Federal Reserve’s October 28 policy decision. Thin liquidity in early Asian hours helped push the token through the round number, and subsequent recovery attempts stalled near $80,350.
What was Bitcoin’s trading range on October 26?
Bitcoin traded between $79,397 and $80,354 on October 26. The roughly $950 range shows how compressed trading has become, with bitcoin below 80000 awaiting the Fed’s decision before committing to a direction.
How did Ethereum perform on October 26?
Ethereum fell about 1% to $2,306 from $2,329 the previous day, moving closer to the $2,300 level. With bitcoin below 80000 again, the slide reflected broad risk-off positioning rather than anything specific to Ethereum.
When is the Fed’s next decision and why does it matter for Bitcoin?
The Federal Reserve announces its policy decision on October 28. It matters for Bitcoin because rate expectations drive the dollar, bond yields and liquidity — the key macro inputs behind Bitcoin’s largest rallies and sell-offs. Uncertainty ahead of the meeting has kept buyers on the sidelines.
What price levels are Bitcoin traders watching now?
To the downside, the $79,397 intraday low is the first support to watch; below that, the weekend washout lows come into play. To the upside, a daily close above $80,000 and the $80,354 session high would suggest buyers are regaining control ahead of the Fed.
Conclusion
Bitcoin below 80000 heading into the Fed’s October 28 decision captures the market’s mood: cautious, compressed and waiting. The $79,397–$80,354 range is unlikely to contain prices once the central bank speaks, and Ethereum’s test of $2,300 adds a second pressure point. For now, patience is the dominant position — Wednesday will decide whether $80,000 becomes a floor again or a ceiling.
