Bitcoin slips under $80,000 as traders de-risk before Fed meeting
The gist
Bitcoin fell under $80,000 as traders cut risk ahead of a Fed meeting, with ether down nearly 3%.
The Fed chair's hints on a possible December hike matter most for crypto.
How it unfolded
- Oct 21, 2026Bitcoin rose to around $83,500, its highest in a week, as an earnings-led rebound in Asian tech stocks lifted risk assets; Near led the CoinDesk 100 Index with a 6.0% gain and zcash extended a jump of about 11%.
- Oct 21, 2026SpaceX and Tesla formed special committees to discuss a merger that would combine more than 30,000 bitcoin; South Korea's Kospi rose 3.29% and Nasdaq 100 futures gained 0.44%.
- Oct 22, 2026Bitcoin slipped below $82,000, reversing Wednesday's brief push above $84,000; the CoinDesk Memecoin Index fell more than 5% and the DeFi Select Index lost 2.5%.