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AI summary of a third-party reportBullishNewsDesk

Bitcoin rises above $81,000 as traders await Fed rate decision

Bitcoin gained 2% to top $81,000 on 28 October morning, with altcoins leading a broader rally as markets waited for the Federal Reserve's rate decision and Chair Kevin Warsh's press conference.

InvestIn.News NewsDesk · 1 min read
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Original reporting: Shaurya Malwa, CoinDesk

Key points

  • Bitcoin rose 2% to just above $81,000, recovering from Monday's slip below $80,000
  • HYPE jumped nearly 6% to about $81, while ZEC added 5% to around $1,300 and DOGE gained 4%
  • The Fed is widely expected to hold rates at 3.75% to 4%, with traders watching for hints of a December hike

Altcoins led the advance. HYPE rose nearly 6% to just above $81, ZEC added 5% to hold around $1,300 and DOGE gained 4%. Smaller tokens including PEPE and M also posted double-digit gains.

The bounce followed a note from Galaxy on 27 October arguing it was time to accumulate Bitcoin.

The bigger test comes later on Wednesday, when Fed Chair Kevin Warsh holds his press conference. The Fed is widely expected to keep rates unchanged in the 3.75% to 4% range.

What to watch: Fed Chair Kevin Warsh's press conference later on Wednesday, where traders will listen for hints of a December rate hike.

Read the full story on CoinDesk

Live updates on NewsFeeds:MacroBitcoinDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)

How this was produced: an AI model wrote this summary of CoinDesk’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.

Not investment advice. Read the risk disclaimer.

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