Bitcoin dips below $80,000 as traders de-risk before the Fed

Bitcoin lost the $80,000 mark again. It fell nearly 2% to about $79,800 in Asian morning hours on Oct. 26, 2026, as traders cut risk ahead of the Federal Reserve meeting and the AI trade took another hit in Asia, CoinDesk reported.

The dip was brief. Bitcoin stood at $79,785 at 08:07 UTC and was back at $80,440 by 09:40 UTC, up about 0.4% over 24 hours, according to CoinGecko data cited by Unchained. That is still roughly 4% below its level near $84,080 at the start of Oct. 22.

Altcoins slid too

Ether dropped nearly 3% to just above $2,300, XRP lost about 3% to $1.28 and SOL slid 2% to barely hold $100. TRX was the only major in the green, according to CoinDesk data.

All eyes on the Fed

The Fed announces its decision on Oct. 28, 2026. It lifted its target range to 3.75%–4% in September, the first increase since 2023. Rate futures priced a 90.6% chance of a hold and a 9.4% chance of a quarter-point hike, per the CME FedWatch tool as cited by Unchained.

Jeff Mei, chief operating officer at crypto exchange BTSE, told CoinDesk the Fed probably won’t change rates at this meeting, adding: "we’re watching how strongly the chair hints at a December hike — that’s what matters for crypto."

Asia set the tone. South Korea's Kospi fell after Goldman Sachs strategists cut their 12-month target for the index by 25%, CoinDesk reported. Brent crude fell 2% from a six-month high to about $114 a barrel.

Where $80,000 sits

Glassnode's Oct. 21 report placed the cost basis of U.S. spot ETFs and corporate treasuries between $80,000 and $81,500, Unchained noted. CoinDesk says bitcoin needs to get back above $82,500, the floor it lost on Oct. 22, before buyers can call the dip a pause.

More catalysts follow: U.S. GDP and PCE inflation data are due on Oct. 29, 2026, and roughly $11 billion in bitcoin options expire on Oct. 30, CNBC-TV18 reported, as cited by Unchained.