The world’s largest cryptocurrency regained momentum on Oct 28 after the U.S. central bank left benchmark interest rates unchanged. The token climbed back to the $81,000 mark, erasing losses from earlier in the week when the price fell beneath $80,000 on Oct 26 as investors reduced exposure to risky assets ahead of the Fed’s policy meeting.
The broader digital asset market also experienced a downturn on Oct 26, with Ether and XRP leading the losses among major tokens. While the central bank held rates steady Wednesday, traders have already priced in an 83% probability of a rate increase by December. Kalshi prediction markets currently estimate a 20% chance that Bitcoin will hit $100,000 by the end of the year.