Deep Dive 10/29/26
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Executive Summary
Bitcoin fell below $80,000 due to a hawkish Federal Reserve decision, where policymakers kept interest rates steady amid two dissenting votes, alongside disappointing tech earnings from companies like Alphabet and Samsung. Despite this macroeconomic pressure, U.S. spot Bitcoin ETFs recorded a third consecutive day of positive inflows totaling $137.3 million. In corporate developments, Strategy shareholders overwhelmingly approved a transition to daily dividend payouts on preferred stock ahead of its quarterly earnings release. Meanwhile, the cryptocurrency exchange Bithumb suffered a security breach via an employee groupware system that compromised user personal data without affecting funds. Finally, Bitwise analysts maintained a long-term outlook by increasing their 2036 Bitcoin price target to $1.6 million.
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