Morning Markets: Bitcoin Tops $80,800 as Fed Decision Day Arrives

Bitcoin traded above 80,800 dollars on Wednesday morning, up about 1.2 percent in 24 hours, as crypto markets edged higher hours before the Federal Reserve announces its rate decision at 2 p.m. Eastern. Stock futures were mixed, oil climbed back above 115 dollars a barrel, and Canada had already moved: the Bank of Canada raised its rate to 2.50 percent this morning, its first hike since 2023.

Ethereum rose about 1.6 percent to near 2,346 dollars, Solana gained about 1 percent to near 101 dollars, and XRP rose about 2.7 percent to 1.32 dollars, based on CoinMarketCap readings reported Wednesday morning. Sentiment stayed cautious. The Fear and Greed Index sat at 45, in neutral territory, which fits a market waiting on the Fed before committing.

Stocks: a mixed open before a crowded afternoon

Futures on the Nasdaq 100 were up 0.44 percent and S&P 500 futures up 0.20 percent at 8:21 a.m. Eastern, while Dow futures were down 0.10 percent. Tuesday's close set the tone: the S&P 500 rose 0.60 percent to 7,722.60, the Nasdaq Composite gained 1.18 percent to 26,477.81, and the Dow added 0.03 percent to 52,377.57, with chip stocks leading after Broadcom lined up 63 billion dollars of bank financing to buy its own chips and networking gear for lease to Anthropic.

Two events decide the day after the open. The Fed is expected to hold its target range at 3.75 to 4.00 percent, with market pricing putting the chance of a hold near 92 percent, so the statement wording and Chair Kevin Warsh's press conference carry the risk: any hint that December could bring a hike lands on stocks, crypto and mortgages at once. Then Microsoft and Alphabet report earnings after the close, a direct test of whether the AI spending boom still has buyers.

Oil is the pressure point

Brent crude rose about 1.1 percent to 115.13 dollars a barrel and United States crude rose about 1.8 percent to 101.69 dollars after an attack on a refinery in Saudi Arabia revived supply worries. Gold slipped about 0.6 percent to near 4,052 dollars an ounce. Oil at this level is why central banks sound tense: Canada cited energy driven inflation directly in its hike this morning, and the Fed faces the same fuel bill when it weighs December.

Asia showed what good earnings can still do. South Korea's Kospi surged 6.2 percent after SK Hynix posted record profit on AI memory demand, a story The Orbit Post covered this morning.

Key numbers

• Bitcoin: about 80,808 dollars, up about 1.2 percent in 24 hours
• Ethereum: about 2,346 dollars, up about 1.6 percent
• Solana: about 101 dollars, up about 1 percent
• S&P 500 futures: up 0.20 percent; Nasdaq 100 futures: up 0.44 percent; Dow futures: down 0.10 percent
• Tuesday closes: S&P 500 7,722.60, Nasdaq Composite 26,477.81, Dow 52,377.57
• Brent crude: 115.13 dollars a barrel, up about 1.1 percent
• Fed decision: today at 2 p.m. Eastern, hold at 3.75 to 4.00 percent expected

What it means for ordinary money

For savers and borrowers, today is about the path, not the headline rate. A hold with firm language keeps mortgage rates near current levels and keeps pressure on credit card and auto loan rates, because lenders price off where they think the Fed goes next. A surprise signal toward a December hike would push bond yields up and hit rate sensitive spending first. For 401k holders, the Microsoft and Alphabet results matter more tonight than the Fed statement: the index gains this year lean heavily on a small group of AI stocks, and their spending plans move the whole market.

One honest note on the tape: much of this morning's move is positioning, not conviction. Consumer confidence helped sentiment, rising to 91.7 in October from 84.2 in September and beating forecasts, but traders across stocks, oil and crypto are all waiting for the same 2 p.m. statement. Expect the real move after Warsh speaks, not before.