Bitcoin fell 3% before the release of the Federal Reserve minutes, with $81000 support receiving att

Bitcoin fell nearly 3% on the eve of the Federal Reserve meeting, and the $81,000 support level became the focus of attention.

In the past 24 hours, Bitcoin prices have fallen nearly 3%, reaching as low as $82,947 and falling below the $83,000 mark. The correction comes as investors reduced their positions ahead of the release of the Federal Reserve's latest meeting minutes, which could affect market expectations for further rate hikes.

FOMC minutes may affect market expectations

Investors 'attention has shifted to the release of the Federal Open Market Committee (FOMC) minutes, and many people have tried to understand policymakers' attitude towards further tightening of monetary policy. Market data on CME's FedWatch tool pointed to a 19.4% probability of a policy rate increase in October, reflecting doubts that the Fed would act again so quickly after raising its benchmark interest rate by 25 basis points at its most recent meeting.

The minutes of the FOMC meeting, expected to be released at 2 p.m. EDT, will reveal the intensity of officials 'debate on further rate hikes and their concerns about continued inflation. A more aggressive or "hawkish" discussion could exacerbate expectations of another rate hike this year, putting pressure on Bitcoin and other risky assets. Instead, a cautious tone may ease uncertainty among some investors and reduce downward pressure on the cryptocurrency market.

Bitcoin's recent decline suggests market participants were cautious ahead of the announcement, although it is difficult to confirm direct motives from price movements alone. Markets are closely watching the Federal Reserve's minutes to see if there will be another interest rate hike this year. Despite recent inflows of exchange-traded funds (ETFs), traders have reduced exposure before the Fed makes a decision as caution has increased.

ETF inflows and continued accumulation

Bitcoin-related exchange-traded funds (ETFs) continued to attract capital last week despite price declines. Weekly net inflows reached $241 million, with additional inflows of $29 million on Monday and Tuesday. Total inflows in September were $2.65 billion, down 23% from the previous month, but remain firmly in positive territory.

These continued capital inflows indicate that institutional investors still have demand for Bitcoin through investment vehicles. However, strong ETF activity has not always offset broader market sell-off, especially as there are more sellers than buyers in other sectors.

Blockchain analytics firm Sanitation reported that addresses holding 100,000 to 100,000 bitcoins increased their balances by approximately 20,000 BTC during September, worth approximately US$1.6 billion. This data suggests that various types of holders are establishing positions. While the increase in the balance provides a supportive signal, analysts warn that it does not guarantee that prices will recover or continue to rise in the short term.

Mini Dictionary: Sanitation is a blockchain analytics platform that tracks on-chain data, wallet activity and sentiment indicators of digital assets, providing insights into market trends and investor behavior.

Technical analysis: $81,000 is the key support

Technical analysis points out that $87,000 is an important resistance level that has repeatedly limited Bitcoin's upward progress. On the daily chart,$81,000 has become an important support area, supported by the 200-cycle exponential moving average (EMA) on the four-hour chart.

A strong rebound at $81,000 would support the view that Bitcoin's current decline is still part of a larger upward trend. If prices can hold on to this level and return above $87,000, the market may test the $90,000 area again.

Still, falling to the $81,000 region does not automatically mean a buying opportunity. Market participants are watching the strength of any recovery and the market's reaction to the Fed minutes to assess confidence in continued gains.

目前，比特币的即时方向取决于持续的ETF资金流入和积累能否吸收额外的抛压，并在投资者对货币政策预期变化做出反应时捍卫81,000美元的支撑位。