Markets
Market: a FOMC/ECB week under close watch for bitcoin and ether
As the Fed and ECB meetings approach, bitcoin and ether are consolidating amid high policy rates and increased scrutiny on global liquidity. European digital-asset investors are closely watching guidance on monetary policy through the end of 2026.
As of October 25, 2026, bitcoin is trading around 71 883 € (80 581 USD), a level consistent with a recent daily close near 80 774 USD, or about 72 050 €. Aggregated data place bitcoin around 81 102 USD, or nearly 72 333 €, on October 23, 2026, slightly down from the prior week. This consolidation phase comes as market participants reduce directional exposure ahead of several major monetary policy meetings in the United States and the euro area.
Ether stands around 2 096 € (2 350 USD), well below its previous peaks despite technical progress on the Ethereum roadmap. This relative underperformance versus bitcoin highlights that ETH’s valuation remains highly sensitive to the macrofinancial cycle and the cost of capital. In this context, the outcome of the major central banks’ meetings could change investors’ positioning between assets seen as more “stores of value” and assets more correlated with innovation and yield dynamics.
The FOMC will meet on October 27–28, 2026, after a policy rate increase in September to a 3,75–4,00 % range. This level mechanically weighs on risk appetite and raises funding costs, including for participants in the crypto ecosystem. Rates and derivatives markets largely anticipate a pause in October, but communication about the possibility of another hike by the end of 2026 will be decisive for risk perception and digital-asset valuations.
The ECB will hold its monetary policy meeting on October 29, 2026, as part of its scheduled calendar. Any change in tone or rate outlook could influence the euro’s path and, by extension, flows into euro-denominated digital assets. A stronger or weaker euro against other currencies alters European investors’ purchasing power for bitcoin and ether. In this context, the risk premium demanded on crypto-assets could shift quickly.
For European crypto investors, the combination of high policy rates and uncertainty about their future path reinforces the importance of signals from the Fed and the ECB this week. A more hawkish rhetoric would prolong pressure on liquidity available to digital markets, while a more cautious tone on further hikes could support a prolonged consolidation scenario rather than a sharp rebound. In any case, intraday volatility around the announcements is likely to remain high and calls for finer risk management.