Bitcoin slips below $80,000 as crypto ignores Asian tech rally

Bitcoin falls below $80,000

Bitcoin slipped back below $80,000 on Tuesday, trading near $79,700, down 0.4% since midnight UTC. Ether, the second-largest cryptocurrency, fell 0.5%.

That move came while Asian tech stocks rose. South Korea's Kospi index climbed 3.1%, but the increase did not pull crypto prices up with it.

Market snapshot

• Bitcoin fell 0.4% to around $79,700.


• Ether dropped 0.5%.


• The CoinDesk DeFi index fell 1.8%, the largest decline among CoinDesk indices. It had been the only index to rise on Monday.


• South Korea's Kospi rose 3.1%.


• U.S. crude oil approached $102 a barrel.

Fed meeting begins

The Federal Reserve has started a two-day policy meeting. An interest-rate decision is scheduled for Wednesday. Data from CME's FedWatch tool shows about a 90% chance the central bank will leave rates unchanged.

Markets will be watching for any signs about whether another rate increase could happen before the end of the year. Traders will also look at U.S. stock index futures, which edged lower ahead of major technology company earnings later this week.

Trading activity

Trading in cryptocurrency futures picked up, with volume rising 18% to $152 billion over 24 hours. Open interest — the total number of outstanding derivative contracts — rose just 0.95%. Total liquidations, or forced closings of positions, eased 13% to $133 million.

Solana fell 1.91% over 24 hours even as open interest in its futures rose 3.6%, suggesting some money entered as the price dropped. Funding remained positive for Bitcoin, Ether, and Solana, meaning most traders with long positions continued paying the standard fee. However, Solana's cumulative volume delta turned negative, which indicates more selling through market orders.

In options, the most-traded Bitcoin contract over the past 24 hours was a $72,000 put expiring Dec. 25. A put option gives its owner the right to sell at that price, and it is often used to guard against a drop. Bitcoin's option skews for 25-delta contracts stayed positive across all time frames, showing traders placed more value on downside protection. Ether options showed a similar pattern.

Privacy-focused coins held up better than most. Dash rose 1.8% and Zcash gained 0.5%. Zcash co-founder Sean Bowe proposed ending the 8% share of newly created coins that funds the network's community grants program.

What is confirmed

Bitcoin traded below $80,000 near $79,700, down 0.4% since midnight UTC on Oct. 27, 2026. Ether fell 0.5%. The Fed's two-day meeting had begun, with a rate decision due Wednesday and roughly a 90% probability of no change according to CME FedWatch.

What is reported

Asian tech shares rose, led by South Korea's Kospi up 3.1%. Oil approached $102 per barrel. U.S. spot Bitcoin exchange-traded funds, which let investors buy Bitcoin exposure through a stock-like product, received $110 million on Monday after two days of outflows, according to Farside Investors.

Why this matters

Crypto's weak move alongside a strong Asian rally shows investors are weighing the Fed meeting more than regional equity gains. With the rate decision on Wednesday, traders are sizing up the chance of further rate increases before year-end.

What happens next

The Federal Reserve's decision comes Wednesday. Major U.S. technology companies are set to report earnings later this week.

Sources

• CoinDesk

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