Bitcoin Holds Above $80,000 as ETF Inflows Return

Bitcoin traded at roughly Rs. 76.92 lakh on Wednesday as cryptocurrency markets remained cautious ahead of the US Federal Reserve's policy decision. Ethereum (ETH) traded at roughly Rs. 2.24 lakh, while major altcoins moved in mixed directions. Market participants said uncertainty over interest rates, global equity movements and institutional investment flows continued to influence sentiment. However, inflows into US spot Bitcoin exchange-traded funds (ETFs) have offered some support after recent withdrawals. According to CoinGecko data, Bitcoin traded at $80,800 (roughly Rs. 76.9 lakh), while Ethereum was priced at $2,350 (roughly Rs. 2.23 lakh).

The world's largest cryptocurrency rose 1.5 percent in the last 24 hours, according to the Gadgets 360 price tracker. Demand has shown signs of recovery, as US spot Bitcoin ETFs recorded around $110 million (roughly Rs. 104.70 crore) in inflows after two consecutive sessions of outflows totalling $774 million (roughly Rs. 736.69 crore). Bitcoin faced immediate resistance near $80,900-$81,000 (roughly Rs. 77 lakh-Rs. 77.1 lakh), while support lay around $79,000 (roughly Rs. 75.1 lakh). 

Major Altcoins Show Mixed Momentum on Wednesday

Binance Coin (BNB) was priced at $744 (roughly Rs. 70,800), while Solana (SOL) traded at $101 (roughly Rs. 9,600). XRP was priced at $1.33 (roughly Rs. 126), while Dogecoin (DOGE) traded at $0.079 (roughly Rs. 7.6). 

Federal Reserve Guidance and Institutional Flows Remain in Focus

Highlighting the factors influencing Bitcoin's price direction, Prateek Gupta, Head of Business at Mudrex, said, “Bitcoin remains near $80,000 as investors turn cautious ahead of the Fed's decision, with a 4.8 percent drop in China's STAR50 index adding to concerns over stretched AI valuations [...] Exchange data also suggests selling pressure is moderating, with net BTC outflows reaching a five-week high [...] The Fed chair's comments could determine the next directional move.”

Commenting on Bitcoin's recovery, trading levels and institutional activity, Nischal Shetty, Founder of WazirX, said, “Crypto markets extended their recovery as stronger equities, improving US economic data and expectations of a Federal Reserve pause supported participation [...] Global sentiment also improved as the Nasdaq gained 1.18 percent, KOSPI surged 5.18 percent, and volatility declined, while lower oil prices eased inflation pressure. Institutional flows remained divided: US spot Bitcoin ETFs attracted $110.34 million through BlackRock's IBIT, whereas Ethereum ETFs lost $88.58 million.”

Discussing Bitcoin's price outlook, institutional demand and risk management, Vikram Subburaj, CEO of Giottus.com, said, “Institutional demand shows tentative improvement. US spot Bitcoin ETFs recorded $635.6 million (roughly Rs. 6,051 crore) in net outflows on October 22 and another $137.9 million (roughly Rs. 1,312 crore) on October 23. Inflows returned on October 26, with $110.3 million (roughly Rs. 104.7 crore) in net buying [...] Investors should avoid aggressive buying ahead of the Fed announcement. Consider staggered entries, maintain measured position sizes and monitor Bitcoin's $79,000 (roughly Rs. 75.2 lakh) support.”

Overall, analysts said Bitcoin's performance remains closely linked to the Federal Reserve's policy guidance, global equity movements and institutional investment flows. Bitcoin's ability to maintain support around $79,000 (roughly Rs. 75.2 lakh) and move past resistance near $82,500 (roughly Rs. 78.5 lakh) could help determine its next direction.