Bitcoin Slips Below $80,000 as Fed Decision and Big Tech Earnings Loom

Bitcoin briefly fell below the $80,000 mark on Monday, touching an intraday low of $79,330 near its lowest level since mid-September before recovering. Traders are bracing for the Federal Reserve's rate decision and earnings from Microsoft, Google and Amazon this week. Bitcoin is down 7.3% year-to-date, roughly matching gold's 7.5% decline, according to MN Fund founder Michael Van de Poppe — a comparison that has become a talking point for both bulls and skeptics. Technical support sits at $79,000, with $82,000 the level needed to signal improving momentum and $83,000 a combined technical and psychological hurdle. Coinbase's bitcoin premium index has been negative for 33 straight days, pointing to weak U.S. spot demand. CME FedWatch data shows about 91% odds the Fed holds rates steady at Thursday's decision, with December rate-hike expectations near 80%. BTSE COO Jeff Mei called the break below $80,000 a risk-reduction signal, warning that hawkish Fed language would tighten liquidity and weigh on crypto-linked assets. U.S. spot bitcoin ETFs saw combined outflows of $773 million on Oct. 22 and 23, including a $635.6 million single-day exit — the largest since June. Total liquidations across crypto exchanges reached $154 million in 24 hours, with $118 million in long positions wiped out.