Bitcoin Slips From Intraday High Ahead of Fed Meeting
Bitcoin rose to about $83,500 before falling back to roughly $82,428. XRP was weaker at $1.32 as investors awaited the Federal Reserve's October 28 rate decision. Middle East tensions and oil-price volatility added to uncertainty, with Brent crude settling at $108.79.
Bitcoin touched roughly $83,500 before easing to about $82,428, still far below its $126,080 record—a decline of nearly 34.6%. XRP traded near $1.32 as U.S. XRP ETF inflows stopped after 13 weeks, with a token unlock scheduled for Nov. 1. Investors are also watching the Fed’s Oct. 28 rate decision, Middle East tensions, and Brent crude at $108.79.
Supporting factors included stronger-than-expected Chinese third-quarter GDP at 4.5%, retail sales beats, and $526.7 million flowing into U.S. spot Bitcoin ETFs on Oct. 19; BlackRock’s IBIT took in $665.2 million. Still, Glassnode cautioned the rally lacked firm backing, and Bitcoin’s slip to $82,069 underscored fragility.
Bitcoin’s swing and XRP’s softness may affect retail traders, ETF investors, and crypto firms exposed to sentiment and liquidity. A Fed decision and geopolitical oil risks could shift risk appetite, potentially widening losses for leveraged holders while offering entry points for longer-term buyers. Consumers may feel indirect effects through financial-market volatility and energy costs, though the scale remains uncertain.