Why is Bitcoin price down today? BTC slips below $80K ahead of Fed decision

Bitcoin price has fallen below $80,000 as leveraged traders face fresh liquidations, ETF withdrawals weigh on sentiment, and investors prepare for a critical week of U.S. economic announcements. Summary Bitcoin price fell below $80,000 as leveraged long liquidations added pressure to an already weakened market. U.S. spot Bitcoin ETFs recorded approximately $773.5 million in combined withdrawals across two trading sessions. The Federal Reserve’s October 28 decision and October 30 options expiry could bring further volatility. Bitcoin price faces support near $79,000, while a recovery above $82,000 could improve short-term momentum. According to crypto.news Bitcoin price data, BTC was trading near $79,947 on October 26, down 1.02% over 24 hours. The cryptocurrency had fallen as low as $79,332 during the session, while its market capitalization stood near $1.61 trillion. Meanwhile, the latest decline follows Bitcoin’s failed attempt to recover toward $85,000 last week, leaving the cryptocurrency struggling around a price level that previously attracted buyers. Trading volume stood at approximately $17.55 billion over 24 hours. Bitcoin price falls as long liquidations accelerate sellin...