Crypto News Today (Live) Updates October 20

Bitcoin is moving impulsively higher, with momentum expected to accelerate as the Fed meeting to set interest rates approaches in just 9 days. The recent breakout above the previous wave a down level confirms this isn’t a correction but a new bullish impulse wave in motion. Analysts believe this move could drive BTC toward a fresh all-time high, signaling renewed market confidence ahead of key macro events.

Ethereum ETFs saw modest outflows last week, far smaller than the heavy withdrawals from Bitcoin ETFs. Analysts say this difference stems from newer inflows into ETH funds, meaning fewer unrealized gains. The sharp Bitcoin ETF outflows appear to be short-term profit-taking — partly tied to tax moves in GBTC — rather than a full risk-off exit from crypto. Fund-level data backs this, showing continued investor confidence in the broader market.

Bitcoin is battling a crucial resistance zone, and a breakout this week could spark a rally toward its all-time high. But a few things need to align first — the U.S. government shutdown must end, and gold needs to rebound, signaling a market shift from risk-off to risk-on sentiment. If these conditions click, analysts believe Bitcoin could regain strong momentum and reignite the next major bullish wave.

This week is packed with market-moving events! Around 10% of S&P 500 firms report earnings, while U.S. crude oil inventories arrive Wednesday. On Thursday, watch for September existing home sales, followed by a triple data drop Friday CPI inflation, Services PMI, and Consumer Sentiment. With just one week until the Fed meeting, traders are bracing for major volatility as these numbers could shape the Fed’s next move on rate cuts.

The U.S. will release CPI inflation data this Friday during the government shutdown. It’s the first Friday CPI release since 2018, landing just five days before the Fed’s October 29 meeting. With no other economic data expected until the shutdown ends, all eyes are on this report, and rumors suggest it could be a bullish CPI surprise that shakes up Fed rate-cut debates.