According to Woofun AI, on the evening of October 28, the cryptocurrency market showed a moderate upward trend after the Federal Reserve's decision landed, with Bitcoin (BTC) closing at $81,220.35, up 0.52%; Ethereum (ETH) closing at $2,363.24, up 0.68%; and Solana (SOL) closing at $102.60, up 1.33%.
Although this week's macroeconomic developments were dense, the market did not experience violent fluctuations, instead digesting policy uncertainty amid consecutive gains. The core driver of this phenomenon is that the Federal Reserve kept its benchmark interest rate in the 3.75% to 4% range, a decision fully in line with market expectations, thereby eliminating the risk of short-term policy shocks. However, the central bank explicitly stated in its statement that inflation remains elevated and retained the possibility of future rate hikes, casting a shadow over market sentiment. Investors' attention has now rapidly shifted from monetary policy to corporate fundamentals, especially the tech giants about to release earnings, whose performance will directly determine whether the market can sustain its current recovery momentum. The transmission mechanism from macro policy to micro corporate performance is reshaping market logic.
Although the Federal Reserve kept rates unchanged, its vigilant stance on inflation means the liquidity environment has not been substantially loosened. Against this backdrop, Alphabet (GOOGL.US) (up +1.34%), (GOOG, up +1.60%), Microsoft (MSFT.US) (down -0.06%), and ServiceNow (NOW.US) (down -3.00%) plan to release earnings after the market close on Wednesday, and these companies' results will become key indicators for testing economic resilience. If these well-known tech companies report poor results, it could very likely negatively impact overall market sentiment and further suppress the recent rally in cryptocurrencies. Notably, Amazon (AMZN.US) and Intel (INTC.US) plan to release earnings after the market close on Thursday, further extending the window of market uncertainty. These earnings not only reflect corporate profitability but also reveal consumer and business spending conditions, as well as the development trajectory of AI infrastructure that has driven recent market growth. For cryptocurrency investors, the next market direction depends both on dynamics within the digital asset industry and on the broader market developments mentioned above.
Data compiled by Woofun AI shows that spot cryptocurrency ETFs have performed relatively steadily recently, providing some support for the market. iShares Bitcoin Trust ETF (IBIT.US) (up +0.96%) rose 0.96%, Fidelity Wise Origin Bitcoin Fund (FBTC.US) (up +0.94%) rose 1.01%, and iShares Ethereum Trust ETF (ETHA.US) (up +1.07%) also rose 1.07%. Whether these price increases can translate into a recovery in investor demand is an important signal for judging whether the market is stabilizing. If ETF inflows continue, it would more strongly indicate that institutional capital is reallocating into risk assets. However, the current recovery is far from strong enough, and if earnings disappoint or inflation concerns resurface, sellers could quickly regain the upper hand. Fortunately, despite recent pullbacks, several major cryptocurrencies are still trading above their summer lows, showing some bottom support. But whether this support is solid still requires observation of subsequent capital flows and the evolution of market sentiment.
From a broader market ranking perspective, as of 20:17 UTC on October 28, 2026, the top ten best-performing cryptocurrencies are ranked as follows: Bitcoin (BTC) at $81,220.35, 24-hour gain +0.5%, 7-day gain -3.4%; Ethereum (ETH) at $2,363.24, 24-hour gain +0.7%, 7-day gain -5.1%; Tether (USDT) at $0.9993, 24-hour gain +0.1%, 7-day gain -0.0%; BNB at $754.47, 24-hour gain +0.9%, 7-day gain +0.8%; Ripple (XRP) at $1.33, 24-hour gain +0.6%, 7-day gain -3.8%; USDC at $0.9995, 24-hour gain +0.0%, 7-day gain -0.0%; Solana (SOL) at $102.60, 24-hour gain +1.3%, 7-day gain -4.8%; Tron (TRX) at $0.3294, 24-hour gain -0.2%, 7-day gain -0.8%; Figure Heloc (FIGR_HELOC) at $1.03, 24-hour gain +1.4%, 7-day gain +2.6%; Zcash (ZEC) at $1,298.52, 24-hour gain -0.0%, 7-day gain -3.3%. Rankings are based on market capitalization.
This data structure shows that although top assets such as BTC and ETH recorded positive returns within 24 hours, their 7-day gains are all negative, indicating that the short-term rebound has not yet reversed the medium-term correction trend. The positive 7-day gains of BNB and FIGR_HELOC show the relative strength of some assets, but the overall market remains constrained by macro sentiment. This is a typical characteristic of the market entering an earnings verification period after the Federal Reserve's decision, and investors need to closely monitor the transmission effects of tech giants' performance on risk appetite.
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