Bitcoin prices climbed to nearly $81,093 on October 28, marking a 1.63% gain over the past 24 hours. The surge was driven by improving ETF inflows and a broader lift in risk sentiment, as oil prices retreated and US corporate earnings strengthened. Prateek Gupta, Head of Business at Mudrex, noted that on-chain data showed easing sell pressure, with net Bitcoin outflows from exchanges reaching a five-week high.
Despite the positive momentum, experts cautioned against aggressive buying ahead of the Federal Reserve’s interest-rate decision. Nischal Shetty, Founder of WazirX, highlighted that institutional activity remained limited, with US spot Bitcoin ETFs recording no net flow on October 26. Ethereum ETFs, however, attracted $16.1 million, suggesting some divergence in investor interest.
Riya Sehgal, Research Analyst at Delta Exchange, attributed the bounce to stronger US equities and a pullback in oil prices, which helped alleviate some inflation and interest-rate pressures on risk assets. Avinash Shekhar, Co-Founder & CEO of Pi42, advised investors to monitor the Fed’s policy signals, ETF flows, and Bitcoin’s ability to sustain key support levels before taking fresh positions.
Vikram Subburaj, CEO of Giottus, echoed the caution, recommending staggered entries and maintaining measured position sizes. He emphasized the importance of monitoring Bitcoin’s $79,000 support level, ETF flows, and the Fed’s guidance before increasing exposure.