Crypto News Today, October 29: Bitcoin Price to Pump with FOMC Meeting Prediction at 25 bps Rate Cut | Crypto Is Back?
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Ben Graham
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It’s a busy start to the week for crypto today, with Bitcoin quietly heating up just as markets brace for the news on the upcoming FOMC meeting. Most traders are betting on a 25 bps rate cut, and that tiny policy tweak could end up lighting a serious spark across crypto. Right now, the prediction on bitcoin price floating around hopes that if Jerome Powell hints at easier conditions ahead, Bitcoin could finally push into a new zone of strength.
Bitcoin sits at above $113,000, still down about 0.7% since yesterday, despite bullish prediction. Crypto’s total value locked is around $154 billion, slightly lower than last week, but steady given the choppy market tone. The setup feels like calm before a bigger shift, that maybe the FOMC meeting results will deliver the nudge that forces another run.
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Bitcoin Price Prediction and What the FOMC Meeting results, like a Rate Cut, Could Mean
Market probabilities from CME FedWatch put the odds of that rate cut at nearly 99.9%, making it one of the most priced-in decisions of the year.
(source – CME FEDWatch)
Right now,
Bitcoin
BTC
$113,222.31
1.34%
Bitcoin
BTC
Price
$113,222.31
1.34% /24h
Volume in 24h
$67.51B
Price 7d
Buy with Best Wallet
market value is hovering around $2.26 trillion, with daily volume close to $65 billion. Strong numbers for late October, but still very little considering that gold loses the same market cap as the total market cap of Bitcoin. It is clear that Bitcoin still has a huge room to grow.
Following all these catalysts, some traders are giving their Bitcoin price prediction to a move toward $118,000 once the Fed confirms its dovish stance.
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Whales appear to be quietly accumulating again, and that’s usually a good sign for patient investors. As some traders put it, a softer FOMC meeting result often means a softer dollar, and more fuel for crypto rallies, especially with another, or bigger rate cut.
For now,
Ethereum
ETH
$4,008.95
3.09%
Ethereum
ETH
Price
$4,008.95
3.09% /24h
Volume in 24h
$40.75B
Price 7d
Buy with Best Wallet
and
Solana
SOL
$194.61
3.16%
Solana
SOL
Price
$194.61
3.16% /24h
Volume in 24h
$9.19B
Price 7d
Buy with Best Wallet
remain the top networks by locked value, with stablecoin totals holding around $308 billion, at an all-time high, poised to be reintroduced into the market. A steady liquidity base tends to support rallies once confidence returns.
(source – StableCoin MarketCap, Defillama)
In general crypto news today, many in the space are already looking beyond the FOMC meeting decision. If this rate cut plays out as expected, attention might shift toward what’s often called “memecoin season.” Historically, lower rates and rising optimism send money flowing into smaller, speculative coins like Dogecoin, PEPE, and the rest of the dog pack.
Bitcoin’s year to date gain still sits arround 60%, and total market cap across all crypto has climbed to above $3.9 trillion. Forget bearish Bitcoin price prediction, if history is any guide, a confirmed FOMC meeting rate cut could easily trigger cryptop’s next leg up. New all-time high? Maybe.
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Big Tech Earnings Reports Loom Over FOMC – Can Crypto Market Recover?
The FOMC crypto narrative dominates financial headlines today as traders brace for a one-two punch of macro and tech catalysts that could reshape market sentiment. The Federal Open Market Committee’s rate decision and Chair Jerome Powell’s post-meeting remarks, followed by earnings from Alphabet, Meta, and Microsoft, are creating a perfect storm for volatility.
With Bitcoin hovering near $112,500 and Ethereum struggling to hold above $4,000, investors are asking the key question: Can the crypto market recover if Wall Street and the Fed align on a dovish stance?
Read the full story here.
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