Key facts
- Bitcoin traded near $80,500 on Tuesday, with prices ranging between $79,400 and $80,800.
- The asset was up about 0.3% over the prior 24 hours by mid-afternoon Eastern time.
- Bitcoin's all-time high is near $126,000, set in October 2025.
- The Federal Reserve's policy decision is due Wednesday, October 28.
- Prediction markets favored Democrats winning both chambers of Congress.
- TD Cowen analysts warned midterm results could stall the CLARITY Act for two years.
Bitcoin traded near $80,500 on Tuesday, maintaining a level that has become a key support for the cryptocurrency. The price ranged between approximately $79,400 and $80,800 throughout the day, showing a modest increase of about 0.3% over the preceding 24 hours by mid-afternoon Eastern time. This stability follows a period of decline, with Bitcoin falling below $80,000 on Monday due to investor risk aversion driven by concerns over AI sector valuations and rising oil prices. Spot Bitcoin ETFs have also experienced outflows. Despite these pressures, significant panic selling has not materialized, and Bitcoin has largely stayed within a $79,000 to $81,000 band this week. The longer-term outlook remains challenging for those who bought at higher prices, as Bitcoin's all-time high of around $126,000 was set in October 2025, and the current price is approximately 30% lower than a year ago.