Bitcoin holds near $80,500 ahead of midterms and Fed decision

Bitcoin traded near $80,500 on Tuesday, holding above $80,000 after falling below the level earlier in the week due to concerns over AI valuations and higher oil prices. The price ranged between roughly $79,400 and $80,800, with spot Bitcoin ETFs shedding money. Ahead of the Federal Reserve's policy meeting on October 27-28 and the November 3 midterm elections, traders are watching for clues on interest rates and policy, as higher rates typically drain liquidity from speculative assets like Bitcoin.