- Bitcoin bounced from $79,843 and now trades just below the $81,750 to $81,823 zone.
- US spot BTC ETFs added $176 million on October 27, their 2nd straight day of inflows.
- If BTC loses $81,300 on hourly closes, it could fall to $80,850 and then $79,843.
Bitcoin is trading at $81,300 after a recovery from the $79,843 low. The rally is now running into sellers just before the Federal Reserve’s FOMC decision today.
BTC climbed as high as $81,602 on the 1-hour chart, then stalled below a 12-hour bearish order block. Bitcoin’s next move will likely depend on the Fed’s policy decision and whether buyers can push BTC above the nearby resistance zone.
Bitcoin Rebounds Above $81,250 as Key Resistance Holds
The recovery followed several weak sessions. Buyers stepped in at $79,843 and pushed the price back above the 12-hour high at $81,300. That move left BTC just under the $81,750 to $81,823 zone. This is where sellers have shown up before.
ETF flows are helping the bounce. SoSoValue data shows US spot Bitcoin ETFs took in $175.99 million on October 27, after $110.34 million on October 26.
Weekly net inflows stand at $286.34 million, and cumulative inflows now sit at $57.47 billion. On October 22, the funds lost $635.49 million, so the return of buyers is a change.
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Could Bearish Hourly Closes Drag BTC Toward $79,843?
The price has already fallen from $81,602 back to $81,300, which puts the breakout level under direct test. If hourly candles start closing below $81,300, the recovery begins to look like a failed breakout.
The first stop would be the $80,850 to $80,900 range, the lower edge of the recent trading band. A break there exposes $80,600 and $80,000. Below that, the 12-hour low at $79,843 comes back into the picture. That is the same level buyers defended during the latest dip.
Hotter-than-expected CPI and PPI readings, alongside weaker jobs data, have reduced expectations for a rate cut. Markets largely expect the Fed to hold rates steady, while some traders are pricing in the possibility of a rate hike in December.
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Related: Why Is Bitcoin Stuck Near $80K as Strategy Diverts $205M to Preferred-Share Buybacks?
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