Key Takeaways
- • Bitcoin fell 1.4% to around $80,100 on October 29, 2026, dipping to $79,600 before recovering, while ether lost 1.7% and the CoinDesk Memecoin Index dropped 3.4%, according to CoinDesk.
- • The Federal Reserve held rates on Wednesday, October 28, with two officials dissenting in favor of a quarter-point hike; Chair Kevin Warsh declined to signal the path for December.
- • U.S. spot bitcoin ETFs took in $137 million on Wednesday, a third straight day of inflows totaling $423.7 million over the period, per Farside Investors.
- • Samsung Electronics shares fell 4% despite a record quarterly profit, and Alphabet missed earnings expectations, pushing Kospi down 1.2% and Nasdaq-100 futures down 1.1%.
- • Crypto futures volume rose 21.8% to $198.8 billion over 24 hours while open interest fell 1.9%, with liquidations up 84% to $337.4 million, signaling positions were closed rather than new money entering.
Summary
Bitcoin fell 1.4% to around $80,100 on Thursday, October 29, after dipping to $79,600 before finding support, according to CoinDesk. Ether declined 1.7%, and the CoinDesk Memecoin Index dropped 3.4%, with AI-linked tokens among the hardest hit. The decline coincided with weakness in equities, as South Korea's Kospi index fell 1.2% after Samsung Electronics shares dropped 4% despite a record quarterly profit, with investors disappointed by the chipmaker's shareholder return plans. Nasdaq-100 futures fell 1.1% after Alphabet missed earnings expectations, and Alphabet shares were reported to be down roughly 10% pre-market.
The Federal Reserve held interest rates on Wednesday, as widely expected, but two officials dissented in favor of a quarter-point increase. Chair Kevin Warsh declined to signal what might come at the December meeting. The September PCE inflation report, the Fed's preferred inflation gauge, was due later on Thursday. Commentary cited in related coverage suggested the dissenting votes could signal that the question for markets is not whether the Fed hikes again, but when.
U.S. spot bitcoin ETFs took in $137 million on Wednesday, extending inflows to a third straight day and adding $423.7 million over the period, according to Farside Investors. Despite these inflows, spot-market prices weakened.
Derivatives data showed trading activity running hot as positions were unwound. Crypto futures volume jumped 21.8% to $198.8 billion over 24 hours while open interest fell 1.9%, and liquidations rose 84% to $337.4 million. BTC futures open interest fell 1.2% alongside a 1.6% price decline, and ETH open interest slipped 0.7% as its price dropped 2.1%. Funding rates remained positive for major coins but declined from the prior day, suggesting the bullish tilt in perpetual trading was fading. Almost every major coin posted negative 24-hour open-interest-adjusted cumulative volume delta, indicating net selling pressure. On Deribit, four of the six most-traded BTC options were calls, led by the $82,500 call expiring October 30, while five of the six highest-volume ETH options were puts, reflecting downside concerns.
Among altcoins, NEAR fell 7.8% and Bittensor (TAO) fell 3.1%, while DeFi tokens underperformed the broader market, with Raydium down 8.9%, Jito down 6.8% and Ethena down 6%. Jasmycoin fell 10%, the largest decline among tokens on the CoinDesk 100. Tron was one of the few tokens in positive territory, gaining 0.5%. CoinMarketCap's Altcoin Season index fell to 54 from 60 on Wednesday.
The Federal Reserve held interest rates on Wednesday, as widely expected, but two officials dissented in favor of a quarter-point increase. Chair Kevin Warsh declined to signal what might come at the December meeting. The September PCE inflation report, the Fed's preferred inflation gauge, was due later on Thursday. Commentary cited in related coverage suggested the dissenting votes could signal that the question for markets is not whether the Fed hikes again, but when.
U.S. spot bitcoin ETFs took in $137 million on Wednesday, extending inflows to a third straight day and adding $423.7 million over the period, according to Farside Investors. Despite these inflows, spot-market prices weakened.
Derivatives data showed trading activity running hot as positions were unwound. Crypto futures volume jumped 21.8% to $198.8 billion over 24 hours while open interest fell 1.9%, and liquidations rose 84% to $337.4 million. BTC futures open interest fell 1.2% alongside a 1.6% price decline, and ETH open interest slipped 0.7% as its price dropped 2.1%. Funding rates remained positive for major coins but declined from the prior day, suggesting the bullish tilt in perpetual trading was fading. Almost every major coin posted negative 24-hour open-interest-adjusted cumulative volume delta, indicating net selling pressure. On Deribit, four of the six most-traded BTC options were calls, led by the $82,500 call expiring October 30, while five of the six highest-volume ETH options were puts, reflecting downside concerns.
Among altcoins, NEAR fell 7.8% and Bittensor (TAO) fell 3.1%, while DeFi tokens underperformed the broader market, with Raydium down 8.9%, Jito down 6.8% and Ethena down 6%. Jasmycoin fell 10%, the largest decline among tokens on the CoinDesk 100. Tron was one of the few tokens in positive territory, gaining 0.5%. CoinMarketCap's Altcoin Season index fell to 54 from 60 on Wednesday.
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