Bitcoin Holds Near $80,000 Ahead of Fed Decision as Oil Retreats
Bitcoin Flat Near $80,000 in Early Trading
Bitcoin traded close to $80,400 on Monday, showing little change since midnight UTC after dipping to roughly $79,300 during Asian morning hours.
Most major cryptocurrencies were mixed. Ether fell 0.2%. The CoinDesk DeFi index — tracking decentralized finance tokens, which are financial apps built on blockchain technology — was the only major index to post gains, with tokens like Uniswap and Ethena rising.
The cautious tone followed weekend news that investor Arthur Hayes said his Maelstrom fund sold its entire directional trading book, including 6,400 ether, citing macroeconomic and geopolitical risks.
Key Market Figures
- Bitcoin traded near $80,400, roughly flat since midnight UTC
- Ether fell 0.2% to about $2,307
- The DeFi index was the only CoinDesk index to gain
- S&P 500 futures rose 0.3% after Friday's stock selloff
- U.S. crude oil fell about 2% to near $101 per barrel
- Brent crude slipped to around $110 per barrel
Oil Prices Ease on Geopolitical News
Oil prices pulled back Monday as Qatari mediators arrived in Tehran on Sunday. Former President Donald Trump said there would be no strike that day, though he kept the option open for future action.
Lower oil prices can reduce inflation concerns, which may influence how central banks set interest rates.
Federal Reserve Decision Due Wednesday
The Federal Reserve will announce its latest interest rate decision on Wednesday. The central bank raised rates in September.
The CME FedWatch tool, which tracks market expectations for rate changes, shows a 90% probability that rates will stay unchanged this week. Markets price in roughly an 80% chance of another rate increase in December.
Bitcoin ETF Outflows Continue
Spot bitcoin ETFs — exchange-traded funds that hold actual bitcoin — saw $138 million in outflows on Friday, according to data from Farside Investors. That brought the two-day total of outflows to $772 million.
Derivatives Positioning Remains Cautious
Total open interest, or the number of active futures contracts, across crypto markets rose 0.85% to $139.9 billion over 24 hours. Trading volume fell 1.78%, and liquidations dropped 71% to $153 million.
The long/short taker volume ratio was nearly even at 50.34% long to 49.66% short, showing no strong tilt in either direction.
Bitcoin open interest rose 0.84% with price up 0.20%, suggesting only a small amount of new money entered the market. Bitcoin trading volume fell 7.21%. Ether showed a similar pattern, with open interest up 0.45% and price adding 0.23%.
Funding rates were mildly positive across most major cryptocurrencies, meaning traders are paying small premiums to hold bullish positions. No asset showed unusually high demand for leverage.
Crude oil was the only top-20 market with negative funding, at -0.0077%. Crude open interest fell 7.37% as the price dropped 1.55%, indicating money left the market as prices declined.
ZEC saw open interest grow 8.17% as its price rose 3.84%. ENA's 8.36% price rally drew in money, with open interest rising 16.85% over 24 hours, though some of that money had started to leave in the most recent hour.
Market-order flow was mixed. Buying outweighed selling in XMR, ZEC, GRAM, CC, and SOL markets. Tokens including DOGE, LINK, HYPE, and XLM saw more selling pressure.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.