Bitcoin and other cryptocurrencies traded mostly lower on Tuesday, as investors remained cautious ahead of the Federal Reserve’s interest-rate decision, while recent outflows from U.S. spot Bitcoin exchange-traded funds added to pressure on digital assets.
Bitcoin traded around $79,800, down roughly 0.5 percent over the previous 24 hours, with a market capitalization of approximately $1.60 trillion and daily trading volume near $25.8 billion.
Ethereum also weakened to around $2,311, declining approximately 0.5 percent over 24 hours. Its market capitalization stood near $282.3 billion, while trading volume reached about $8.5 billion.
Solana fell more sharply, losing around 1 percent to trade near $100, with its market capitalization at approximately $59 billion and 24-hour volume around $2.34 billion.
The broader cryptocurrency market remained under pressure even as Asian technology shares rallied on Tuesday. CoinMarketCap put total cryptocurrency market capitalization at around $2.67 trillion, down about 0.5 percent over 24 hours, while Bitcoin dominance stood at approximately 60.05 percent.
Fed decision dominates
Investors are focused on the Federal Reserve’s two-day policy meeting, which began on October 27 and concludes on Wednesday.
The Federal Reserve is scheduled to announce its decision at 2:00 p.m. ET on October 28, followed by a press conference at 2:30 p.m.
The federal funds target range currently stands at 3.75–4.00 percent after the Fed raised rates by 25 basis points in September.
Markets broadly expect policymakers to leave rates unchanged this week, making the central bank’s guidance on the outlook for December particularly important for cryptocurrencies and other risk-sensitive assets.
Higher interest rates and expectations of tighter monetary policy can weigh on cryptocurrencies by increasing returns available on yield-bearing assets and tightening financial conditions.
The Fed decision will be followed on Thursday by two major U.S. economic releases. The Bureau of Economic Analysis is scheduled to publish its advance estimate of third-quarter GDP and September personal income and spending data, including the PCE inflation index, at 8:30 a.m. ET on October 29.
August headline PCE inflation stood at 3.4 percent, keeping inflation risks at the center of the monetary-policy outlook.
Read more: Bitcoin holds above $86,000 as Cardano leads crypto gains on fading Fed hike bets
ETF flows remain volatile
Institutional investment flows have provided another source of uncertainty for Bitcoin.
U.S.-listed spot Bitcoin ETFs recorded $526.7 million in net inflows on October 19, followed by $23.2 million on October 20 and another $524.8 million on October 21, according to Farside Investors.
Flows then reversed sharply.
The funds recorded $635.6 million in net withdrawals on October 22 and another $137.9 million on October 23, producing combined outflows of $773.5 million over the two sessions.
The reversal highlighted continued volatility in institutional demand as Bitcoin struggled to establish a sustained move back above $80,000.
The latest Farside data for October 26 remained incomplete across several issuers, meaning the session should not yet be interpreted as a confirmed zero-flow day.
Altcoins remain mixed
Ethereum remained among the major cryptocurrencies under pressure, while XRP outperformed the wider market.
XRP traded around $1.31, gaining approximately 1.5 percent over 24 hours. Its market capitalization stood near $82.7 billion, while daily trading volume was approximately $1.59 billion.
BNB was little changed around $738, while TRON traded near $0.327.
Solana remained around the psychologically important $100 level after extending its recent decline.
Privacy-focused Zcash was one of the stronger performers, gaining more than 2 percent over 24 hours to approximately $1,255. Its market capitalization stood near $21.2 billion.
Bitcoin Cash edged higher to around $280, with CoinMarketCap recording a daily gain of approximately 0.2 percent and a market capitalization near $5.6 billion.
Uniswap also bucked the broader weakness, gaining around 0.6 percent to approximately $7.05.
Polkadot moved in the opposite direction, declining about 2.6 percent to $0.99 as selling remained heavier across several smaller major tokens.
Chainlink traded around $11.35, while Cardano stood near $0.204 and Dogecoin near $0.077.
Monero remained close to $593, while Hyperliquid traded around $78.
Central banks ahead
The macroeconomic calendar remains crowded beyond the Federal Reserve.
The European Central Bank begins its monetary-policy meeting on Wednesday and will publish its policy decision at 14:15 CET on Thursday, October 29, followed by President Christine Lagarde’s press conference at 14:45 CET.
The ECB’s deposit facility rate currently stands at 2.50 percent.
The Bank of Japan is scheduled to hold its two-day meeting on October 29–30, with its monetary-policy statement and updated economic outlook due Friday.
Japan’s policy rate currently stands around 1.25 percent.
Crypto investors will also monitor major industry earnings. Coinbase and Strategy are scheduled to report quarterly results on Thursday, adding another potential source of volatility for digital-asset-related equities and broader cryptocurrency sentiment.
Stablecoins, meanwhile, remained close to their dollar pegs, with Tether around $0.998 and USDC near $1. Their combined trading volumes continued to represent a significant share of cryptocurrency-market liquidity as investors positioned ahead of this week’s monetary-policy decisions.
