Crypto Market Today, Oct. 28: Bitcoin and Altcoins Gain as Fed Decision Clears the Way for Big Tech Earnings
As of early evening on Oct. 28, Bitcoin (CRYPTO:BTC) rose 0.52% to $81,220.35, Ethereum (CRYPTO:ETH) rose 0.68% to $2,363.24, and Solana (CRYPTO:SOL) rose 1.33% to $102.60.
What's driving crypto markets
Bitcoin and the broader cryptocurrency market posted back-to-back gains despite a busy week of economic developments.
Most notably, the Federal Reserve held its benchmark interest rate steady at 3.75% to 4%, in line with market expectations. However, the central bank acknowledged that inflation remains elevated, leaving the possibility of future rate hikes on the table.
Investors will now turn their attention to a wave of corporate earnings. Alphabet (NASDAQ:GOOGL) (NASDAQ:GOOG), Microsoft (NASDAQ:MSFT), and ServiceNow (NYSE:NOW) are scheduled to report after Wednesday's market close. Any disappointing results, particularly from these major technology companies, could weigh on broader market sentiment and put pressure on crypto's recent gains.
Crypto ETF snapshot
Fortunately, Spot crypto ETFs traded firmer over the last few days. The iShares Bitcoin Trust ETF (NASDAQ:IBIT) up 0.96%, Fidelity Wise Origin Bitcoin Fund (NYSEMKT:FBTC) up 1.01%, and iShares Ethereum Trust ETF (NASDAQ:ETHA) up 1.07%.
The next development to watch is whether these price gains translate into renewed investor demand. A return to sustained ETF inflows would provide a more convincing sign that the market is stabilizing.
What this means for investors
With the Federal Reserve's decision in the rearview, attention now shifts toward corporate earnings and what they reveal about the broader economy.
This week's reports from major technology companies should provide valuable insight into consumer and business spending, corporate profitability, and the AI infrastructure boom that has helped drive much of the market's recent growth. Amazon (NASDAQ: AMZN) and Intel (NASDAQ: INTC) are slated to report Thursday after the closing bell.
For crypto investors, the next move may depend as much on these broader market developments as on events within the digital asset industry itself.
Encouragingly, several major cryptocurrencies remain above their summer lows despite the recent correction. However, the recovery is far from convincing, and disappointing earnings or renewed inflation concerns could quickly put sellers back in control.
Top 10 crypto performance
| # | Name | Price | 24h | 7d |
|---|---|---|---|---|
| 1 | Bitcoin (BTC) | $81,220.35 | +0.5% | -3.4% |
| 2 | Ethereum (ETH) | $2,363.24 | +0.7% | -5.1% |
| 3 | Tether (USDT) | $0.9993 | +0.1% | -0.0% |
| 4 | BNB (BNB) | $754.47 | +0.9% | +0.8% |
| 5 | XRP (XRP) | $1.33 | +0.6% | -3.8% |
| 6 | USDC (USDC) | $0.9995 | +0.0% | -0.0% |
| 7 | Solana (SOL) | $102.60 | +1.3% | -4.8% |
| 8 | TRON (TRX) | $0.3294 | -0.2% | -0.8% |
| 9 | Figure Heloc (FIGR_HELOC) | $1.03 | +1.4% | +2.6% |
| 10 | Zcash (ZEC) | $1,298.52 | -0.0% | -3.3% |
Ranked by market cap. Price and 24-hour change for BTC, ETH and SOL: FMP, the same figures used in the text above. All other figures: CoinGecko, as of October 28, 2026 20:17 UTC.
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RJ Fulton has positions in Bitcoin, Ethereum, Solana, and iShares Bitcoin Trust. The Motley Fool has positions in and recommends Alphabet, Bitcoin, Ethereum, Intel, Microsoft, ServiceNow, Solana, and iShares Bitcoin Trust. The Motley Fool has a disclosure policy.
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