Bitcoin hovers near $80,000 as traders await Fed decision

Bitcoin traded near $80,000 on Monday, extending a recent decline after falling about 2% earlier in the session. Spot Bitcoin ETFs recorded about $635 million in outflows on October 22, and a brief drop below $80,000 last week triggered roughly $800 million in long position liquidations. The price, currently at $80,215, has ranged between $79,397.76 and $86,806.95 over the past month, and remains far below its all-time high of $126,277.05. Markets are watching the Federal Reserve's two-day meeting ending October 28, as traders await Chair Kevin Warsh's remarks for signs of a potential December rate hike.