Key Takeaways
- • Bitcoin is holding near the $79,500 support level as a broader market downturn, triggered by higher-than-expected Personal Consumption Expenditure (PCE) inflation data, pressures stock futures, gold and silver.
- • Bitcoin must break above its 50-day moving average to resume its upward rally; a bullish flag pattern on the weekly chart points toward $90,000 if a breakout occurs.
- • Bitcoin traded at Rp1,486,000,000 on Pluang, up 1.17%, as of October 29, 2026 at 22:43 WIB, with 74% of order activity on the platform favoring purchases.
- • Bitcoin traded above $81,000 on Binance earlier on October 29, reaching $81,291 at 11:05 a.m. ET, a 1.12% gain over the past hour.
Summary
Bitcoin's price is holding near a key support level of $79,500 as a broader market downturn, triggered by higher-than-expected Personal Consumption Expenditure (PCE) data, weighs on risk assets. According to the Pluang report, stock futures and precious metals including gold and silver are also falling, keeping Bitcoin within a descending price channel.
A recent bounce offers some near-term support, but the article notes that Bitcoin must break above its 50-day moving average to resume an upward rally. A bullish flag pattern on the weekly chart suggests a potential move toward $90,000 if such a breakout occurs, although the outlook remains contingent on price action amid current market pressures.
On Pluang, Bitcoin was trading at Rp1,486,000,000 with a 1.17% gain as of October 29, 2026, at 22:43 WIB. The platform recorded strong buy interest, with 74% of order activity favoring purchases and a typical holding period of 112 days, a contrast to the broader pressure on the asset.
Other market reports from the same day show a similar pattern. Bitcoin traded above $81,291 on Binance at 11:05 a.m. ET on October 29, a 1.12% gain over the past hour, while earlier coverage in the database flagged the asset hovering near $80,000 amid ETF inflows and uncertainty over Federal Reserve rate policy.
A recent bounce offers some near-term support, but the article notes that Bitcoin must break above its 50-day moving average to resume an upward rally. A bullish flag pattern on the weekly chart suggests a potential move toward $90,000 if such a breakout occurs, although the outlook remains contingent on price action amid current market pressures.
On Pluang, Bitcoin was trading at Rp1,486,000,000 with a 1.17% gain as of October 29, 2026, at 22:43 WIB. The platform recorded strong buy interest, with 74% of order activity favoring purchases and a typical holding period of 112 days, a contrast to the broader pressure on the asset.
Other market reports from the same day show a similar pattern. Bitcoin traded above $81,291 on Binance at 11:05 a.m. ET on October 29, a 1.12% gain over the past hour, while earlier coverage in the database flagged the asset hovering near $80,000 amid ETF inflows and uncertainty over Federal Reserve rate policy.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.