Crypto Market Today, Oct. 28: Bitcoin and Altcoins Gain as Fed Decision Clears the Way for Big Tech Earnings

Bitcoin and other altcoins advanced on the session, with the move attributed to the Federal Reserve's policy decision having removed a near-term overhang and opening the way for large technology company earnings. The transmission mechanism runs through risk appetite and the dollar: a Fed outcome perceived as less hawkish tends to soften the greenback and lower real yields, which historically supports speculative assets such as crypto that compete for the same liquidity as high-growth equities. Bitcoin and large-cap altcoins are most exposed because they trade with high beta to Nasdaq-linked sentiment, so moves in mega-cap tech earnings expectations can amplify or reverse their direction. Traders should watch the upcoming quarterly reports from major technology firms, particularly guidance on AI-related capital spending, as a signal of whether risk-on flows persist into crypto markets.

The US Dollar (USD) is the world's primary reserve currency and the base for most forex majors. Headlines about Federal Reserve policy, US macro data (CPI, NFP, GDP), and Treasury yield shifts typically drive USD pair direction within seconds of release.

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