According to Fixygen, the cryptocurrency market continues to decline following a rough week. Bitcoin has once again fallen below the psychological threshold of $80,000, while Ethereum remains under pressure from investors.
According to CoinPaprika as of 11:00–11:30 UTC:
Bitcoin (BTC) — approximately $79,750, down 0.7% over the past 24 hours.
Ethereum (ETH) — approximately $2,318, down 0.5%.
Solana (SOL) — approximately $100.
The total market capitalization of the crypto market is approximately $2.8 trillion.
During the week of October 19–23, U.S. spot Bitcoin ETFs attracted $301.2 million, while investors withdrew $220.7 million from Ethereum-focused funds.
However, the trend proved to be extremely volatile: on October 22 alone, outflows from Bitcoin ETFs reached $635.6 million.
On October 26, U.S. Bitcoin ETFs again saw $110.3 million in net inflows, with the entire amount coming from BlackRock’s IBIT fund. At the same time, investors withdrew another $88.6 million from Ethereum ETFs.
Thus, large investors remain interested in Bitcoin, but a sustained recovery in demand for cryptocurrencies has not yet been observed.
The main event in the coming days is the U.S. Federal Reserve meeting on October 27–28.
The Fed’s decisions on interest rates and statements regarding future monetary policy could significantly impact digital asset prices.
A rate cut or softer rhetoric from the regulator could support demand for risky investments. Conversely, hawkish signals from the Fed could intensify pressure on cryptocurrencies.
The key price benchmark remains the $80,000 level per Bitcoin. A return above this level could signal market stabilization, while a prolonged decline would increase the risk of a further correction.
At the same time, the cryptocurrency industry continues to evolve: BlackRock is preparing a new investment fund with partial protection against a Bitcoin decline, and major banks are expanding the use of digital assets in payment systems.
The market is simultaneously undergoing a price correction and a new phase in the development of institutional infrastructure.
