Bitcoin's price hovered near $80,000 on Monday, October 26, 2026, after a 2% drop earlier in the day. The cryptocurrency has seen several dips below this level in recent days, each followed by a recovery. Selling pressure has increased, with spot Bitcoin ETFs recording about $635 million in outflows on October 22. A brief drop below $80,000 last week also triggered roughly $800 million in liquidations of long positions.
The next major test for Bitcoin traders is the Federal Reserve’s two-day meeting, ending October 28. The Fed raised its target range to 3.75% to 4% in September, and its minutes suggested another increase could come by year-end. Market odds currently favor the Fed holding rates steady, but traders are watching Fed Chair Kevin Warsh’s remarks for signs of a December hike.
Higher interest rates typically pull money away from risky assets, including crypto. A rate hold could keep Bitcoin's price between $80,000 and $88,000, while a hike could push it toward the lower end of that range. Geopolitical tensions and rising oil prices are also weighing on markets, as higher energy prices feed into inflation, affecting the Fed’s decisions.
In tech, Anthropic is reportedly preparing an initial public offering that could value the AI company near $965 billion. U.S. stocks surged slightly on Monday, with the Nasdaq rising 0.8%, the S&P 500 gaining 0.6%, and the Dow climbing 0.3%. AI-related stocks rallied following Anthropic’s IPO filing, with Tesla jumping 6% and Meta planning to raise up to $95 billion for AI investments.
As of writing, Bitcoin's price trades at $80,215, down nearly $4,000 or 4.75% on the month. Over the past month, prices have ranged from a high of $86,806.95 to a low of $79,397.76. Bitcoin's price peaked above $86,000 in early October, then slid toward $80,000 in the second week of the month. Trading volume over the past 24 hours reached about $18.12 billion.