Bitcoin's consolidation range persists as the market focuses on the Federal Reserve's decision, Strategy's earnings report, and the U.S. midterm elections.

BlockBeats news, October 24 — Bitcoin has recently continued to trade in a range, with investors watching the Federal Reserve's interest rate decision on October 28, Strategy's earnings report on October 29, and the U.S. midterm elections on November 3 to gauge the subsequent trend. Analysts noted that factors such as U.S. inflation, tariffs, and the U.S.-Iran conflict continue to weigh on risk assets, and that spot Bitcoin ETF fund flows also remain divergent.

In Binance's perpetual futures market, bulls and bears are still locked in a fierce battle. The liquidation heatmap shows about $8 billion in short positions above the spot price and about $7.6 billion in long positions below it. Bitcoin's earlier rebound near $84,890 consumed some short-side liquidity, but profit-taking near $85,000 capped the rally; the $80,000 level below is seen as key support, with about $3.57 billion in long positions near that price and another roughly $3.6 billion near $79,000.

Analysts believe that until Bitcoin effectively breaks out of its current trading range, short-term trading is likely to remain dominated by repeated fluctuations.