Key Highlights

  • Bitcoin (BTC) traded at about USD 81,087 to USD 81,433 on October 28, 2026, about 36.7% below its USD 128,198 record of October 6, 2025, simple arithmetic on the lower quote.
  • Spot Bitcoin ETFs took in USD 110.34 million, led by BlackRock, while Ether ETFs lost USD 88.58 million as Ether (ETH) rose to about USD 2,370, a mixed signal before the Fed.
  • Galaxy's research head says the bear market ended with a June low near USD 58,000, a view from Galaxy Digital (NASDAQ:GLXY), which itself reports results this week, so the research view arrives near its own earnings.
  • The Federal Reserve decides at 2:00 p.m. ET on October 28 with a hold priced near 93% and December hike odds near 73% to 75%, so rate risk frames every crypto move.

Bitcoin (BTC): Back above USD 81,000

Bitcoin (BTC) recovered to about USD 81,087 to USD 81,433 on October 28, 2026 after dipping near USD 79,000 over the weekend. The record is USD 128,198 from October 6, 2025, so the price is about 36.7% below it, simple arithmetic using the lower quote. Using the higher quote gives about 36.5%. Galaxy's research head argues that the bear market ended with a low near USD 58,000 in June, and one data point supports that view: the price sits above its 50-week moving average, a trend gauge that averages a year's worth of weekly closes. The moving average comparison is a technical argument, not proof, and technical levels can fail, as many traders have learned in earlier rallies. Spot Bitcoin ETFs drew USD 110.34 million, with BlackRock the largest contributor, according to one daily report. Exchange outflows of 14,942 BTC, a five-week high, mean coins left trading platforms, which some analysts read as holders moving to storage, though the data cannot show intent. The macro picture is cautious: the Fed meets on October 28 with a hold priced near 93% and December hike odds about 73% to 75%, and the 10-year Treasury yield is near 4.995%. Higher rates tend to weigh on assets that pay no income. ETF flows count shares created and redeemed, so they show demand from fund investors and not from the whole market. A rally can fail quickly, and a drawdown of more than a third shows how far prices can fall. Watch a daily close above USD 82,500, ETF flow data, the Fed's tone at the press conference and Chair Warsh's remarks, and moves in the dollar and yields. Price and flow data come from single daily reports, so they may be revised.

Ether (ETH): Near USD 2,370 with ETF outflows

Ether (ETH) climbed to about USD 2,370 on October 28, 2026, but Ether ETFs recorded outflows of USD 88.58 million. ETF flows show whether investors are adding or removing exposure through fund shares. Outflows during a price rise can mean that direct buyers and traders outweighed fund sellers, or that fund holders took profits into strength. Neither reading can be proved from one day of data. XRP gained 3% to USD 1.33 and Solana rose to USD 102, so the altcoin group was firm while the fund flows lagged. Because fund flows are reported after the close, the October 28 figure may describe the previous session rather than the quote's session. Zcash rose about 8% to about USD 1,320 in one report, a figure that looks high against other prices and should be confirmed with exchange data. Altcoin leadership during a pre-Fed rally often reflects traders adding risk, because smaller coins move more than larger ones in either direction. A parallel context is Bitcoin (BTC), which was back above USD 81,000 the same morning. The market is therefore moving together, though with different flow signals, and Galaxy's research head argues that the broader crypto bear market has ended, an opinion not shared by every analyst. Ether is a smart-contract platform, so its price also reflects network use, which was not captured for this article. The main risk is the Federal Reserve: a hold is priced near 93%, and December hike odds near 73% to 75% could climb if Chair Warsh sounds hawkish, which would weigh on assets that pay no income. ETF outflows may continue, and altcoin rallies can reverse fast. Watch daily ETF flows, the dollar index at 102.37, and the 10-year yield near 4.995%.

Galaxy Digital (NASDAQ:GLXY): Research head calls the low

Galaxy's head of research says the bear market in Bitcoin (BTC) has ended, placing the low in June near USD 58,000, according to a report dated October 28, 2026. The case is technical: Bitcoin is back above its 50-week moving average, a line that averages weekly closes over about a year and is often used to separate bull and bear phases. With the price near USD 81,087, the rise from the June low is about 39.8%, simple arithmetic on two quoted levels. The research comment describes what is called an accumulation phase, when buyers return gradually after a decline. Galaxy has also argued in earlier research that Bitcoin's cycles follow patterns in ETF demand and liquidity, which informs the framing. Galaxy Digital (NASDAQ:GLXY) is a digital asset firm that earns from trading, asset management and related services, so its revenue depends on crypto activity. The company is also a Tuesday reporter, though its results were not retrieved for this article. Bitcoin is still about 36.7% below its record of USD 128,198 from October 6, 2025, so even if the low is in, the market has regained only part of the fall. Independent analysts may weigh the same evidence differently, and some will argue that a bear market is confirmed only after a new high. A moving average is a lagging indicator, and prices can cross back below it. A daily close above USD 82,500 is the next signal cited by traders, while the Federal Reserve decision at 2:00 p.m. ET on October 28 could change risk appetite.

Where Things Stand

The answer is that crypto is in focus before the Fed. Bitcoin (BTC) is back above USD 81,000. Ether (ETH) is near USD 2,370. Galaxy Digital (NASDAQ:GLXY) says the bear market is over. The signals are mixed: Bitcoin ETFs gained while Ether (ETH) ETFs lost. Bitcoin is still about 36.7% below its record. The next catalysts are the Fed decision on October 28 and a close above USD 82,500. This is not investment advice.