Crypto markets retreat under Fed pressure as Bitcoin hovers near $81,000
CIE News ·
Based on reporting by Investing.com; not yet independently confirmed.
Crypto assets faced downward pressure on October 17, 2026, driven by inflation data and a hawkish Fed outlook, leaving Bitcoin between $81,000 and $81,500 while major altcoins fell.
Crypto markets experienced sustained downside pressure on October 17, 2026, amid elevated U.S. inflation metrics and a hawkish repricing of Federal Reserve policy expectations. Spot Bitcoin (BTC) traded between $81,000 and $81,500 after previously reaching above $84,000. Ethereum (ETH) dropped approximately 1.58% to $2,413.24, while XRP slipped 2.55% to $1.305.
Tradingkey.com reported that firmer Treasury yields and expectations of higher interest rates raised the opportunity cost of holding non-yielding digital assets. This macro-driven risk reduction spurred long liquidations in perpetual futures markets, accelerating downward momentum for altcoins. Tradingkey.com noted that spot ETF inflows for XRP were not large enough to counter derivative deleveraging and retail profit-taking.
Meanwhile, large Bitcoin holders engaged in significant accumulation around the price dip. Wallstreet-online.de reported that wallets holding 10 to 10,000 BTC acquired 86,702 BTC valued at $7 billion over three weeks, even as more than $760 million was withdrawn from spot Bitcoin ETFs. Outflows from the ten largest whale wallets on Binance exceeded 15,000 BTC per day as tokens shifted into cold storage. Citigroup raised its 12-month Bitcoin price target to $113,000, while Bernstein set a target of $150,000 and Standard Chartered kept its year-end target at $100,000.
Key facts
- BTC at $81,000 to $81,500
- ETH down 1.58% to $2,413.24
- XRP down 2.55% to $1.305
- Whales bought 86,702 BTC
Read the original at Investing.com