Bitcoin rebounded above $80,000 Tuesday after briefly slipping below the key support level, as investors brace for Wednesday’s crucial FOMC decision.
Notable Statistics:
- Coinglass data shows 63,835 traders were liquidated in the past 24 hours for $133.56 million.
- SoSoValue data shows net inflows of $110.3 million from spot Bitcoin ETFs on Monday. Spot Ethereum ETFs saw net outflows of $88.6 million.
- In the past 24 hours, top gainers include Bitway, MemeCore and Dash.
Notable Developments:
- Ripple Expands BNY Partnership as XRP Jumps 2%
- Bitcoin Profit-Taking Cools but Analysts Remain Cautious Ahead of FOMC
- Bitcoin Could Hit $100,000 or $60,000 by Year-End, Analyst Says
- Would a Bitcoin Selloff After the Midterms Present a Buying Opportunity?
- Galaxy Digital Posts $323M Profit as AI Expansion Gains Steam
- Ripple, Robinhood Partner to Expand RLUSD Use for Institutional Settlement
- Ripple Expands BNY Partnership as XRP Jumps 2%
Trader Notes:
Galaxy Digital’s Alex Thorn highlighted in a podcast with Scott Melker that Bitcoin’s bear market ended with the June lows.
Panelists agreed that Bitcoin likely bottomed in June, with one describing any decline below $80,000 as a potential buying opportunity over the next 12–18 months.
The panel remained bullish on Bitcoin’s long-term prospects, arguing that institutional adoption, tokenization and AI-driven trading infrastructure continue advancing despite bearish sentiment.
On the other hand, near-term volatility and unresolved market structure challenges could complicate the recovery.
Bernstein has lowered its outlook for crypto stocks, including Coinbase (NASDAQ:COIN), Robinhood (NASDAQ:HOOD) and Circle (NYSE:CRCL), reflecting uncertainty over the sector’s recovery.
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