Bitcoin Recovers After Briefly Falling Below $77,000 Thursday

Bitcoin (BTC) recovered after slipping below $77,000 Thursday. Investor positioning was defensive, and appetite for risk remained limited.

The premium on leveraged long positions had narrowed. Bitcoin’s performance was relatively resilient: It avoided both a breakout and a sharp selloff despite inflation, stock-market volatility and geopolitical risks. That relative stability was a positive signal, but did not indicate an upside breakout.

The Federal Reserve left its target range unchanged at 3.75% to 4.00%. U.S. consumer prices in September were 3.7% higher than a year earlier. Preliminary October purchasing managers’ index readings showed selling-price inflation at its fastest pace since August 2022.

ICE, parent of the New York Stock Exchange, and Trade[XYZ] plan to launch a U.S.-regulated perpetual contracts market based on Hyperliquid, subject to regulatory approval.