Crypto Market Wrap Oct 26: Bitcoin Holds $80,000 as Fed Week Begins

October 26, 2026 MM Crypto Team

Bitcoin Holds Above $80,000 as Fed Week Begins

Bitcoin began the new week holding just above the psychologically important $80,000 level, trading at $80,162 and down a modest 0.41 percent over the previous twenty-four hours, according to CoinMarketCap data reported by Chosun Biz on the morning of October 26. The move was small in percentage terms, but the level itself carried outsized meaning for traders who have watched Bitcoin defend, lose, and reclaim the round-number mark repeatedly during a choppy autumn. Holding above $80,000 into a week dominated by the United States Federal Reserve was, in itself, a statement of resilience, even if the price action suggested caution rather than confidence.

Investors were clearly in wait-and-see mode, reluctant to commit fresh capital in either direction before the central bank speaks, and the thin drift lower reflected that hesitation more than any rush for the exits. Across the wider crypto market, the tone was similarly subdued, with most major assets moving within narrow ranges and trading activity reflecting a market paused rather than panicked. The coming days will decide whether this quiet consolidation becomes the base for a recovery or the calm before another leg lower. For now, Bitcoin’s ability to stay above $80,000 gives buyers something to defend and sellers something to respect, and that balance is likely to hold until the Federal Reserve breaks the stalemate.

Ethereum Slips While XRP and BNB Push Higher

Ethereum traded at $2,327 on the morning of October 26, down 0.55 percent over the previous day, a slightly softer performance than Bitcoin that left the second-largest cryptocurrency hovering near a level traders have been watching closely. The decline was modest, yet it extended a pattern of underperformance that has frustrated Ethereum holders through much of the recent pullback, as capital has rotated toward other large assets or simply sat on the sidelines waiting for clearer signals.

XRP, by contrast, managed a small gain of 0.29 percent to trade at $1.29, while BNB rose 0.52 percent to $738.72, making the two among the few large-cap names in positive territory on the day. The divergence was narrow in absolute terms, but it illustrated how selective the market has become, rewarding individual stories and punishing broad exposure almost indiscriminately. In a market defined by caution, even small gains matter, because they show that not every holder is rushing to sell and that pockets of demand remain for assets with their own catalysts. There is no single crypto trade right now, only a collection of individual assets moving on their own rhythms while the whole market waits for a macro trigger.

The Fed Decision Dominates the Week Ahead

The dominant event of the week is the meeting of the Federal Open Market Committee, the rate-setting body of the United States Federal Reserve, which concludes with its decision on October 28. Markets have been counting down to this meeting for weeks, and the outcome will set the tone not only for crypto but for equities, bonds, currencies, and commodities into the final stretch of the year. A Reuters poll conducted between October 16 and 20 surveyed one hundred economists, and ninety-four of them expected the federal funds rate to hold steady at a range of 3.75 percent to 4.00 percent at the October 27 to 28 meeting.

That is a strong consensus, yet it is not unanimity, and the minority view matters because it keeps the possibility of a surprise alive. All one hundred economists surveyed expected a move in December, which suggests the market sees the October meeting as a pause rather than a pivot, a holding pattern while the central bank gathers more evidence. For crypto investors, the distinction matters, because it shapes expectations for liquidity in the months ahead. Interest rates are the single most powerful macro variable for risk assets: when borrowing costs fall, capital tends to flow toward higher-risk opportunities, and when they stay high, the opposite tends to happen. The wait-and-see mood on October 26 was therefore entirely rational.

Inflation, Oil and the Rate-Cut Debate

Beneath the consensus for a hold in October lies a more complicated debate about inflation, energy prices, and the direction of monetary policy. Some market voices have warned that with United States inflation running above expectations, a rate hike is possible, a scenario that would weigh heavily on risk assets including cryptocurrencies. The concern is not abstract: September consumer price inflation rose 3.7 percent compared with the 3.6 percent that had been expected, according to CryptoTicker, a small overshoot that nonetheless reminded markets that the fight against rising prices is not yet won.

Energy prices have added to the pressure, with Brent crude settling at $116.72 on October 23, a six-month high reported by Crypto.com, a level that feeds directly into transport and production costs across the economy. Higher oil prices can lift inflation expectations and complicate the central bank’s task. For crypto, the practical implication is straightforward: a hawkish surprise would likely pressure prices, while a dovish signal could unlock the buying that has been waiting on the sidelines. Until the decision lands, both scenarios remain live.

Technical Picture: Bitcoin’s Key Levels

Beyond the macro headlines, traders were also focused on the technical picture, and analysis from WazirX founder Nischal Shetty offered a clear map of the levels that matter. Shetty noted that Bitcoin traded near $79,567 in a short-term pullback, sitting below key moving averages despite a neutral reading on the relative strength index, a combination that suggests the market is neither overbought nor oversold but is drifting without strong momentum. The immediate support zone sits between $79,000 and $79,500, a band buyers will want to defend if selling pressure builds, and below that lies deeper support between $77,500 and $77,700.

On the upside, a recovery above $80,700 to $81,200 could improve momentum and shift the short-term balance back toward buyers. The neutral reading on the relative strength index is worth noting, because it means the market is not stretched in either direction and the next move is genuinely open. Technical levels are not guarantees, but they give traders a framework for managing risk in an uncertain week. With the Federal Reserve decision looming, the most likely path is that Bitcoin continues to trade within the range defined by those support and resistance zones until the macro picture becomes clearer.

Ethereum’s Support and Resistance

Ethereum’s technical picture told a similar story of a market testing its floor while waiting for a catalyst. The asset held near $2,310 after testing the $2,300 level, a round number that has taken on importance as both a psychological marker and a practical line in the sand for traders. Support sits between $2,280 and $2,300, a narrow band that has so far absorbed selling pressure, with a broader base lower down between $2,150 and $2,160. That deeper zone represents the level where a more serious breakdown would be confirmed.

On the upside, resistance sits between $2,315 and $2,325, just above the current price, with a further barrier at $2,360. The tight clustering of these levels around the current price tells its own story: Ethereum is coiled within a narrow range, and a decisive move in either direction could come quickly once the macro trigger arrives. For traders, the practical approach is to watch whether support holds on any dip and whether resistance gives way on any rally. Ethereum’s recent softness relative to Bitcoin adds a note of caution, but the asset remains within striking distance of its resistance levels, and a positive surprise from the central bank could close that gap fast.

Wider Markets and Why This Week Matters

The caution in crypto was mirrored across traditional markets. In Asia, Shanghai fell 0.53 percent, Singapore declined 0.41 percent, and South Korea’s KOSPI slipped 0.34 percent. In the United States, the Dow Jones Industrial Average and the S and P 500 both ended Friday lower. Commodities told a more mixed story: gold fell 1.30 percent, while oil rose 3.77 percent, a divergence that captured the tension between safe-haven demand and energy-driven inflation concerns.

The week ahead matters because it brings together several forces that have been building for weeks. The Federal Reserve decision on October 28 is the centrepiece, but inflation data, energy prices, and the technical position of Bitcoin and Ethereum all feed into the same question of whether risk appetite returns or retreats. A hold at the current rate range, with language keeping a December move on the table, would likely be taken as the expected outcome, and markets might respond with relief. A surprise in either direction would force a rapid repricing across every risk asset. For long-term holders, short-term price action around a central bank meeting is often noise; for short-term traders, volatility around the decision is likely to be elevated, and position sizes should reflect that risk. Whatever the outcome, the wait will be over by October 28, and the market will finally have the clarity it has been waiting for.

FAQ

Why is Bitcoin holding near $80,000? Bitcoin traded at $80,162 on October 26, down 0.41 percent in 24 hours, as investors waited for the Federal Reserve decision due on October 28 rather than taking large new positions.

What does the Reuters poll say about the Fed? Ninety-four of one hundred economists surveyed between October 16 and 20 expected the federal funds rate to hold at 3.75 percent to 4.00 percent at the October 27 to 28 meeting, while all one hundred expected a move in December.

Where is Bitcoin’s key support? WazirX founder Nischal Shetty placed immediate support at $79,000 to $79,500, with deeper support at $77,500 to $77,700, and said a recovery above $80,700 to $81,200 could improve momentum.

How did Ethereum, XRP and BNB perform? Ethereum traded at $2,327, down 0.55 percent, while XRP rose 0.29 percent to $1.29 and BNB gained 0.52 percent to $738.72.

Why does oil matter for crypto? Brent crude settled at $116.72 on October 23, a six-month high, and higher energy prices can lift inflation expectations, which in turn affects how long interest rates stay high and how investors view risk assets.

Source: Chosun Biz / The Hindu BusinessLine

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