Bitcoin has risen more than 2% to about USD 81,454 on Wednesday as U.S. spot ETF inflows returned and technology stocks advanced ahead of the Federal Reserve’s interest-rate decision.
The cryptocurrency gained 2.40% over 24 hours, recovering from a recent low near USD 79,497. The move brought Bitcoin price back above USD 81,000 after several sessions of selling. However, it remained below the USD 82,300–USD 82,500 area that traders are monitoring as near-term resistance.
Spot Bitcoin ETF Inflows Resume After Two Days of Withdrawals
According to Farside Investors, U.S. spot Bitcoin exchange-traded funds received USD 110.3 million in net inflows on October 27. BlackRock’s iShares Bitcoin Trust (IBIT) accounted for the entire amount, while the other tracked funds reported no net movement that day.
The recovery continued on October 27, with U.S. spot Bitcoin ETFs recording USD 175.99 million in daily net inflows, according to SoSoValue data. The latest inflows followed the USD 110.3 million recorded on October 26, marking two consecutive sessions of positive flows after the previous withdrawals.
Meanwhile, cumulative net inflows into U.S. spot Bitcoin ETFs reached USD 57.47 billion as of October 27. The two-day recovery in fund flows coincided with Bitcoin’s move back above USD 81,000, although broader U.S. spot demand remained weak according to CryptoQuant’s indicators.
Technology Stocks Lift Bitcoin Ahead of Federal Reserve Decision
Bitcoin’s advance coincided with gains in technology shares after South Korean chipmaker SK Hynix reported record quarterly earnings. Strong demand for artificial intelligence memory chips lifted the company’s shares and supported buying in other semiconductor stocks on Wednesday.
The recovery also followed gains in U.S. technology stocks on Tuesday. Bitcoin’s reported 0.87 correlation with the S&P 500 indicates that its recent price movements have closely tracked equities, although the figure alone does not establish what caused the rebound.
Other cryptocurrencies moved higher as well. Ether gained about 2.4%, while XRP rose roughly 2.1%. Solana and BNB also advanced, extending the recovery beyond Bitcoin as traders awaited the Fed announcement.
Short Liquidations Help Bitcoin Reclaim USD 81,000 Price Level
Derivatives data showed approximately USD 26.05 million in Bitcoin short positions liquidated over 24 hours. These forced closures occurred as the cryptocurrency recovered above USD 81,000, a level that had recently limited further gains.
Bitcoin also moved above its seven-day simple moving average near USD 81,146. The next resistance area stands between USD 82,300 and USD 82,500. Holding above USD 81,000 would leave that range in focus, while a decline below USD 79,500 would put the USD 77,500–USD 78,000 support area back in view.
Federal Reserve Rate Decision Sets Up Bitcoin’s Next Market Test
The Federal Reserve is due to announce its October 28 policy decision later Wednesday. Markets broadly expect officials to keep their benchmark interest-rate range at 3.75%–4.00%, following September’s increase. Attention will also turn to the central bank’s guidance on further increases.
Inflation concerns have grown alongside higher energy prices, adding uncertainty about the timing of the Fed’s next move. Higher borrowing costs can weigh on assets such as Bitcoin because investors have less incentive to hold riskier positions.
Bitcoin remained on track for a monthly decline despite Wednesday’s rebound. With October nearing its end, the Fed statement and Bitcoin’s ability to remain above USD 81,000 will provide the next reference points for traders.
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