Bitcoin sits at $80,583 as the New York stock market opens on 28 October 2026, up +0.58% in the past 24 hours. The Federal Reserve announces its rate decision later today. Crypto holders should watch how risk appetite shifts once that decision lands.
What actually happened
Bitcoin trades at $80,583, up +0.58% over 24 hours, after swinging between a low of $79,813 and a high of $81,636. Daily volume stands at $23.82 billion and its market capitalisation is $1.62 trillion. Ethereum trades at $2,335, up +0.43%, with a 24-hour range of $2,314 to $2,380. Its volume is $9.43 billion and its market cap is $285.32 billion. Overnight, Asian chip stocks rallied, with South Korea's Kospi index jumping 6.6% after SK Hynix reported a sevenfold profit jump, according to CoinDesk. US spot bitcoin ETFs took in $176 million on Tuesday, a second straight day of inflows, per Farside Investors data cited by CoinDesk. The Federal Reserve is due to announce its rate decision at 18:00 UTC.
How we got here
Bitcoin dipped lower on Tuesday before Wednesday's rebound. Asian chip stocks led the recovery overnight, with South Korea's Kospi index up 6.6% after SK Hynix reported a sevenfold profit jump. CME's FedWatch tool shows a 92% probability that the Federal Reserve leaves rates unchanged today, according to CoinDesk. Nasdaq-100 futures were up 0.5% ahead of the open, pointing to a broadly positive mood across risk assets this morning.
Why this matters for you
For crypto holders, the next few hours matter more than the overnight move. The Fed announces its decision at 18:00 UTC, followed by a press conference from Chair Kevin Wash. Open interest in bitcoin and ether has lagged this week's price gains, suggesting the move is not driven by heavy leverage. Spot bitcoin ETFs added $176 million on Tuesday, a second straight day of inflows, a signal some investors watch for conviction.
The bigger question
The Fed's decision is widely expected to leave rates unchanged. Does a widely anticipated outcome still move crypto prices, or does the real signal come from the words chosen in the press conference that follows? Markets across equities and crypto should have an answer within hours.
What to watch
The Federal Reserve announces its decision at 18:00 UTC today, 28 October 2026. Chair Kevin Wash holds a press conference immediately after. Alphabet and Microsoft report earnings after the US market closes today. Bonuz will track how bitcoin and ether react once both events land.
This article is information, not financial advice. Prices are a snapshot and change constantly. Nothing here is a recommendation to buy or sell any asset. Do your own research.
