Key Takeaways
- • Bitcoin recovered to around $80,800 on Sunday after a sharp weekend selloff, having dipped as low as $79,146 on Saturday, its weakest level in more than a month, according to Investing.com.
- • More than $810 million in crypto positions were liquidated over 24 hours, including approximately $689 million in bullish bets, per Coinglass data.
- • The Federal Reserve's October 27-28 rate decision is the key near-term catalyst, with traders watching whether policymakers hold rates or tighten further.
- • Strategy spent $193 million repurchasing preferred shares while acquiring just 267 Bitcoin, highlighting capital trade-offs facing corporate treasury holders.
- • Fidelity Digital Assets estimates perpetual preferred stock offerings have financed purchases of approximately 136,000 Bitcoin since 2025.
Summary
Bitcoin recovered to around $80,800 on Sunday following a sharp weekend selloff, as investors assessed heavy cryptocurrency liquidations ahead of the Federal Reserve's October 27-28 meeting, according to Investing.com. The asset fell as low as $79,146 on Saturday, its weakest level in more than a month, before reclaiming the $80,000 threshold. Coinglass data showed more than $810 million in crypto positions liquidated over 24 hours, roughly $689 million of which were bullish bets. Thin weekend liquidity intensified the selling as leveraged positions were forcibly closed after the decline below $80,000. At last check, Bitcoin traded at $80,936.3, with the 50-day moving average near $81,700 acting as resistance and traders monitoring support around $78,400 and $77,876.
The Fed decision is expected to drive prices. Traders are watching for signals on whether policymakers will maintain rates or pursue further tightening, since higher rates could strengthen the dollar and reduce demand for risk assets. Elevated oil prices, trading above $117 amid the Iran war, have complicated the inflation outlook.
Corporate treasury holders face mounting strain. According to Fidelity Digital Assets, perpetual preferred stock offerings have financed purchases of roughly 136,000 Bitcoin since 2025. Strategy (NASDAQ) and Strive (NASDAQ) have increasingly relied on preferred shares, though recurring dividend obligations could constrain future purchases. Strategy recently spent $193 million repurchasing preferred shares while acquiring only 267 Bitcoin.
In other developments, Xapo Bank CEO Seamus Rocca said wealthy Bitcoin investors are increasingly borrowing against their holdings and seeking yield rather than selling, and that institutional allocations could support longer-term demand, although regulatory and geopolitical uncertainty remain obstacles. Hardware wallet maker Keystone disclosed a customer data breach involving names, contact information, shipping addresses and purchase details; it said private keys, recovery phrases and payment information were not compromised, but warned of phishing attempts involving fraudulent refunds and replacement devices.
Broader altcoin prices were mixed on Sunday. Ether fell 0.56% to $2,369.34, XRP rose 1.63% to $1.3139, Solana declined 0.03% to $102.68, and BNB gained 1.14% to $748.60.
The Fed decision is expected to drive prices. Traders are watching for signals on whether policymakers will maintain rates or pursue further tightening, since higher rates could strengthen the dollar and reduce demand for risk assets. Elevated oil prices, trading above $117 amid the Iran war, have complicated the inflation outlook.
Corporate treasury holders face mounting strain. According to Fidelity Digital Assets, perpetual preferred stock offerings have financed purchases of roughly 136,000 Bitcoin since 2025. Strategy (NASDAQ) and Strive (NASDAQ) have increasingly relied on preferred shares, though recurring dividend obligations could constrain future purchases. Strategy recently spent $193 million repurchasing preferred shares while acquiring only 267 Bitcoin.
In other developments, Xapo Bank CEO Seamus Rocca said wealthy Bitcoin investors are increasingly borrowing against their holdings and seeking yield rather than selling, and that institutional allocations could support longer-term demand, although regulatory and geopolitical uncertainty remain obstacles. Hardware wallet maker Keystone disclosed a customer data breach involving names, contact information, shipping addresses and purchase details; it said private keys, recovery phrases and payment information were not compromised, but warned of phishing attempts involving fraudulent refunds and replacement devices.
Broader altcoin prices were mixed on Sunday. Ether fell 0.56% to $2,369.34, XRP rose 1.63% to $1.3139, Solana declined 0.03% to $102.68, and BNB gained 1.14% to $748.60.
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