Crypto 28.10.2026: BTC around $81,000, Fed holds rates

Global Crypto Market on 28th October: Bitcoin holds around $81,000, Fed maintains rates

On Wednesday, 28th October, the global cryptocurrency market concluded a moderately positive but nervous day, centred on the US Federal Reserve's (Fed) decision to keep the benchmark interest rate unchanged in the range of 3.75% to 4.00%. According to The Motley Fool's summary on 28th October (data from CoinGecko around 20:17 UTC), Bitcoin traded around $81,220 with an approximate 0.52% gain in 24 hours, while earlier in the day, KuCoin's 28th October report (data as of 00:00 UTC) recorded BTC around $80,908 (approx. +0.97%). Ethereum, in the same The Motley Fool measurement, was around $2,363 (approx. +0.68% in 24 hours). On a weekly basis, both Bitcoin (approx. -3.4%) and Ethereum (approx. -5.1%) remained in negative territory after the liquidation wave on 24th October, so the 28th October rise is more accurately described as stabilisation rather than a new upward impulse.

Market Overview

Bitcoin traded in a relatively narrow range around the $80,000-$81,400 mark on Wednesday. In KuCoin's 28th October daily report (published 28.10. around 02:17, prices as of 00:00 UTC), BTC was around $80,908 with an approximate 0.97% gain, while The Motley Fool's 28th October summary (CoinGecko data around 20:17 UTC) showed it around $81,220 with an approximate 0.52% gain in 24 hours and approx. -3.4% for the week; the same page's price ticker later showed around $81,361. Differences between levels and percentages are explained by varying measurement windows; the overall picture across all sources was a small daily gain against a still negative weekly figure.

Ethereum followed a similar trajectory. In KuCoin's 28th October report (00:00 UTC), ETH was around $2,350 (approx. +1.12%), while The Motley Fool's measurement (around 20:17 UTC) showed it around $2,363 (approx. +0.68% in 24 hours) with approx. -5.1% for the week. Ethereum's relative weakness against Bitcoin on a weekly basis coincided with persistent outflows from spot Ether funds (more details in the section on influencing factors).

In the altcoin segment, moderate gains dominated on 28th October. According to The Motley Fool data, Solana (SOL) traded around $102.60 (approx. +1.33% in 24 hours, approx. -4.8% for the week), XRP around $1.33 (approx. +0.6% in 24 hours, approx. -3.8% for the week), while BNB was around $754.47 (approx. +0.9% in 24 hours) and was the only major asset with a small weekly gain (approx. +0.8%). The privacy coin Zcash (ZEC) stood out, trading around $1,298 according to the same summary, maintaining an elevated level after its October rally. The sentiment indicator was neutral - in KuCoin's 28th October report, the Fear and Greed Index was 51 points (up from 48 the previous day), indicating the market's oscillation between caution and a moderate appetite for risk. A unified, clearly dated total market capitalisation and Bitcoin dominance figure for 28th October could not be reliably fixed in the public sources used, so these aggregated values are deliberately not stated as precise facts in this release.

What influenced the market

The main event of the day was the Fed's decision at its 28th October meeting. The Federal Open Market Committee (FOMC) maintained the federal funds rate in the range of 3.75% to 4.00%, and, according to Cailian Press information compiled by PANews, the decision was made with a 10-2 vote, where governors Lisa Cook and Beth Hammack dissented, supporting a 25 basis point rate hike. Benzinga and The Crypto Times reports on 28th October indicate that the decision was made by the Fed led by Kevin Warsh. The Motley Fool noted that the statement described inflation as "remaining elevated", leaving open the possibility of further tightening policy. According to Bloomberg data (in PANews' summary), bond market participants priced in approximately a 90% probability of a rate hike at the December meeting, which is a significant caveat - the market interpreted the decision to keep rates unchanged not as a signal for easing, but rather as a pause.

The broader risk asset sentiment on 28th October was supportive. According to The Motley Fool, US stock indices closed the day in positive territory: S&P 500 around 7,743.98 points (approx. +0.3%), Dow Jones around 52,475.10 points (approx. +0.2%), and Nasdaq Composite around 26,549.85 points (approx. +0.3%). In the background, the quarterly earnings season for major tech companies was underway - Alphabet, Microsoft, and ServiceNow reported after Wednesday's market close, while Amazon and Intel were expected on Thursday, creating an indirect macro link for cryptocurrencies as risk assets to the tech sector's sentiment. In the commodities market, according to Cailian Press's pre-market data on 29th October (in PANews' summary), WTI crude oil was around $101.81 (approx. +1.91%), Brent around $111.26, and gold around $4,055.75 per ounce (approx. -0.11%) - elevated energy prices keep the inflation theme current.

The institutional flow picture was mixed. According to a TokenPost report on 28th October, spot Bitcoin exchange-traded funds (ETFs) attracted approximately $176 million in net inflows on 27th October, of which BlackRock IBIT accounted for approximately $151.5 million, and approximately $110 million on 26th October, totalling approximately $286 million over two days. These inflows followed strong outflows on 22nd and 23rd October (approx. $774 million), so the overall October figure until 28th October was still a small negative (approx. -$26 million), but the year-to-date figure was positive (approx. +$850 million). In contrast, spot Ether funds experienced approximately $149 million in outflows on 26th and 27th October, and the total October figure was approximately -$1.32 billion - this partly explains Ethereum's relative weakness. Fund share prices on 28th October followed the market: according to The Motley Fool data, IBIT was approx. +0.96%, Fidelity FBTC approx. +1.01%, and iShares Ethereum Trust (ETHA) approx. +1.07%.

Exchange and Industry Events

The most significant event in the exchange segment at the beginning of the week was the expansion of the US perpetual contracts market. According to a 27th October report by The Block, Crypto.com, in partnership with derivatives partner OG.com, launched cryptocurrency perpetual futures for eligible US traders with up to 5x leverage, isolated margin, and take-profit/stop-loss tools. The products operate through OG.com's CFTC-regulated infrastructure, and Crypto.com recently registered as an introducing broker with the National Futures Association (NFA). This move continues after the CFTC's May 2026 decision to open the US market to crypto perpetual contracts and complements the activities of Kraken (US perpetual contracts since June 2026) and other players.

Other exchange and product news for 28th-29th October (according to PANews' summary): Binance Brazil applied for authorisation before the 30th October deadline, while announcing restrictions on 8 services and the delisting of 22 tokens for Brazilian users; Pump.fun added Hyperliquid perpetual contracts with over 300 markets (BTC leverage up to 40x); and Coinbase introduced sending and receiving RLUSD stablecoins on the Base, Ethereum, and XRPL networks. On the regulatory front, Circle on 28th-29th October urged the US Securities and Exchange Commission (SEC) to classify GENIUS Act-compliant stablecoins as "money", while the US Office of Foreign Assets Control (OFAC) sanctioned 10 individuals and one entity in connection with North Korean IT worker fraud and cryptocurrency money laundering. The CFTC announced a roundtable discussion planned for 15th December on 24/7 derivatives trading.

Security Incidents

On the security front, no new, precisely dated large-scale hacking incident was confirmed for 28th October, but several active threads remained in the weekly context. According to PeckShield data, on 24th October, the DeFi project X100 ($X) suffered a flash-loan type governance attack, losing approximately $4.75 million, and its token price dropped by approximately 96% in 24 hours; the attacker later transferred approximately 821 ETH (approx. $1.89 million) to the Tornado Cash mixing service. In parallel, the Initia ecosystem continued to manage the aftermath of the 23rd October security incident - the fund confirmed a capital injection to restore the iUSD collateral's 1:1 peg, setting limits of approximately 1.08 million USDC, 105 ETH, and 1.4 million AUSD0. At the infrastructure level, three new Bitcoin Core vulnerabilities were discovered, one of which allows remote node shutdown; fixes are included in versions 29.5, 30.4, 31.2, and 32.1, and node operators are advised to update.

Context and Outlook

To accurately assess the movements on 28th October, they must be viewed in the weekly context. At the beginning of October, Bitcoin flirted with the $86,000 mark, but on 24th October (Saturday), it briefly slipped below $80,000, triggering a wave of liquidations - according to a MarketScreener reference, positions worth approximately $436 million were liquidated in about four hours, of which approximately $404 million (approx. 93%) were long positions. CryptoQuant data (in PANews' summary) showed that on 25th October, BTC fell to approximately $80,051 and was approximately -4.2% for October up to that point. Glassnode analysis indicates that the approximately $84,000-$85,000 area has capped rallies four times this year, while support is located around the $78,000-$79,000 region, where the average acquisition price for active investors is approximately $77,900. In this context, the 28th October rise is interpreted as holding above key support, rather than a breakout upwards.

In the near term, market attention is likely to focus on several factors: expectations for the Fed's December meeting (the bond market, according to Bloomberg, estimates approximately a 90% probability of a rate hike), the impact of major tech companies' quarterly results on broader risk sentiment, and the direction of spot ETF flows, particularly whether renewed inflows into Bitcoin funds prove sustainable and whether outflows from Ether funds cease. For participants in the European and Baltic-Nordic regions, additional context includes the continued implementation of MiCA regulation and the development of the stablecoin regime, which affects what products and assets are available to local users. It should be emphasised that the levels and probabilities mentioned here are estimates from individual sources at specific times, not forecasts. This article is an informative overview and should not be considered investment advice; please conduct your own research before making any decisions.

Sources

• The Motley Fool - "Crypto Market Today, Oct. 28: Bitcoin and Altcoins Gain as Fed Decision Clears the Way for Big Tech Earnings" (28.10.2026, CoinGecko data ~20:17 UTC): https://www.fool.com/coverage/stock-market-today/2026/10/28/crypto-market-today-oct-28-bitcoin-and-altcoins-gain-as-fed-decision-clears-the-way-for-big-tech-earnings/
• KuCoin - "Crypto Daily Market Report, October 28, 2026" (published 28.10.2026 ~02:17, prices as of 00:00 UTC): https://kucoin.com/news/articles/crypto-daily-market-report-october-28-2026
• TokenPost - "Bitcoin ETFs Draw $286 Million Over Two Days Ahead of Fed Decision" (28.10.2026): https://www.tokenpost.com/news/investing/42560
• PANews - "Key Overnight and Morning News (October 28-29)" (compiles Cailian Press, Bloomberg, CryptoQuant, Glassnode data): https://panews.io/articles/01a18562-b335-7215-bdbd-ff4b18718507
• The Block - "Crypto.com and OG.com launch US crypto perps with up to 5x leverage" (27.10.2026): https://theblock.co/news/markets/2026-10-27-crypto-com-og-com-launch-us-crypto-perps-up-to-5x-leverage-431902