Bitcoin climbed past $81,000 on Wednesday, 28 October. By early evening in the US, it had risen 0.52% to $81,220.35. Ethereum picked up 0.68% to $2,363.24. Solana added 1.33% to $102.60. That made it back-to-back gains for crypto, and a welcome change after a choppy week.
The backdrop was busy. The US Federal Reserve held its benchmark rate at 3.75% to 4%, which is what markets expected. Still, the central bank admitted that inflation remains elevated. Rate hikes are not off the table. So traders got some relief, but not much comfort.
Zoom out and the picture gets murkier. Bitcoin is down 3.4% over seven days. Ethereum has lost 5.1%, and Solana is off 4.8%. XRP sits at $1.33, up 0.6% on the day but 3.8% lower for the week. One bright spot remains. Several major coins are still above their summer lows.
Why Is Bitcoin Rising? Three Forces Behind the Bounce
It’s a fair question, and no single headline answers it. Three forces seem to be pulling in the same direction:
- Fed relief: Rates held at 75% to 4%, which cleared one big unknown.
- ETF demand: Spot funds traded firmer, with IBIT up 0.96% and FBTC up 1.01%.
- Earnings hopes: Investors want Big Tech results to confirm strong AI-linked spending.
None of this fixes the bigger worry. Relief rallies tend to run out of steam without fresh buyers. Confidence looks better today, yet inflation hasn’t gone anywhere.
Where Do ETFs and Altcoins Stand?
Spot crypto ETFs have traded firmer over the past few days. The iShares Bitcoin Trust (IBIT) rose 0.96%. Fidelity’s Wise Origin Bitcoin Fund (FBTC) gained 1.01%. The iShares Ethereum Trust (ETHA) climbed 1.07%. Those are decent numbers. The real test is whether higher prices bring investors back. Sustained ETF inflows would be a far more convincing sign that the market is settling.
Altcoins were a mixed bag. BNB rose 0.9% to $754.47, while TRON slipped 0.2% to $0.3294. Stablecoins stayed close to their pegs, with Tether at $0.9993 and USDC at $0.9995. Zcash sits at $1,298.52, flat on the day and down 3.3% for the week. BNB and Figure HELOC (FIGR_HELOC) were rare weekly winners, up 0.8% and 2.6%. That looks like selective buying, not a broad rally.
Spot crypto ETFs traded firmer as investors awaited Big Tech earnings. [CNBC]
Bitcoin Price Prediction: When Do Earnings Land?
Attention now shifts from central bankers to company boardrooms. Any Bitcoin price prediction this week leans on a handful of reports:
- Wednesday after the close: Alphabet, Microsoft and ServiceNow were scheduled to report.
- Thursday after the close: Amazon and Intel are due to report.
- What to watch: Consumer and business spending, profits and the AI infrastructure boom.
- Downside risk: Weak Big Tech results could pressure crypto’s recent gains.
Why does this matter for crypto? Both crypto and tech stocks tend to move with risk appetite. Strong spending numbers would lift confidence. Weak guidance could send sellers rushing back in.
How Fragile Is the Bitcoin Price Outlook?
Let’s be blunt: this bounce hasn’t won anyone over yet. A few things could sour the mood in a hurry.
- Inflation: The Fed admits prices are still running hot. More rate hikes remain possible.
- Weekly losses: Zoom out and it looks rough. Bitcoin is down 3.4% over seven days, and Ethereum has shed 5.1%.
- Earnings shock: A single weak report from Big Tech might be enough. Sellers would grab the wheel again.
- Support levels: There’s a silver lining. Several major coins are still holding above their summer lows.
Crypto no longer trades in a bubble of its own. ETF flows, inflation data and tech earnings now pull on the same market. Hold above $81,000, and confidence should start to return. Slip below it, and nerves will fray fast. Some investors would rather wait for a clear signal. Others drip their money in over several weeks. Neither approach removes the risk. For now, the Bitcoin price outlook is hopeful, but only just.
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Also Read: Bitcoin Leads Crypto Sell-Off: What Is Driving BTC, ETH, BNB and XRP Lower?
Frequently Asked Questions
Q1: What is Bitcoin’s price now?
A1: Bitcoin traded at $81,220.35 on 28 October, a gain of 0.52% on the day. It remains 3.4% lower over seven days.
Q2: Why is Bitcoin rising?
A2: The Fed held rates at 3.75% to 4%, and spot ETFs traded firmer. IBIT rose 0.96%, and FBTC gained 1.01%.
Q3: When do Big Tech firms report earnings?
A3: Alphabet, Microsoft and ServiceNow were due after Wednesday’s close. Amazon and Intel report on Thursday, so 5 reports land in 2 days.
Q4: Could interest rate hikes return?
A4: Possibly. The Fed held at 3.75% to 4% but flagged elevated inflation, so hikes remain on the table.
Disclaimer:
This article is general information and is not financial advice. Crypto prices swing, and Bitcoin’s push above $81,000 could unwind around Big Tech earnings or Fed inflation comments. Figures reflect data reported on 28 October 2026 and may have changed. Speak to a licensed Australian financial adviser before investing, and never put in money you can’t afford to lose.
