Bitcoin falls below $80,000 ahead of Fed decision and U.S. midterms

Bitcoin briefly dipped below $80,000 over the past 24 hours, touching about $79,330 before recovering to around $80,264, down 2.7% on the week according to CoinGecko. U.S. spot Bitcoin ETFs saw net outflows of $773 million on Thursday and Friday, wiping out recent gains and leaving October on track for a net loss. The decline was driven by a broader sell-off in technology stocks and nervousness ahead of the Federal Reserve's rate decision and the U.S. midterm elections on November 3. Analysts noted that while $80,000 is a psychologically important level, low weekend trading volumes could make a break below it misleading, and that sustained pressure below $82,000 could signal a broader pullback as investors shift funds into stablecoins.