Wintermute: Bitcoin's $82,500 price range will soon be broken, FOMC meeting may be the key juncture

October 20 — Wintermute said in its latest weekly market report that, with the Fed meeting and midterm elections approaching, implied volatility is at a low level, and it expects BTC's range around $82,500 to see a breakout soon, though the specific direction remains unclear. The Federal Open Market Committee (FOMC) meeting on October 28 is most likely to be the juncture that breaks the deadlock, and the outcome could lead in sharply different directions: if the Fed holds rates steady but takes a hawkish stance, the market will price in expectations of a December rate hike ahead of time, pushing yields higher, which in turn pressures the Nasdaq and drags Bitcoin prices lower; conversely, if the Fed takes a prudent stance and third-quarter earnings beat expectations, the above pressure will ease, creating room for bulls to push prices above $87,000.