As traders reduce their risk exposure ahead of the Federal Reserve meeting, Bitcoin and Solana are under renewed pressure; however, corporate treasury purchases and Galaxy Research’s bullish outlook provide an alternative market signal.
Early Monday trading saw Bitcoin drop nearly 2% to around $79,300, marking its third drop below $80,000 since October 24. At press time, $BTC was trading near $80,300.
Selling pressure has also spread to major cryptocurrencies. $ETH has fallen to just above $2,300, while $XRP has retraced to around $1.28. Solana has dropped over 2% to approximately $100, struggling to hold above the $99 level it briefly broke through on Saturday.
Traders appear to be reducing risk exposure ahead of this week’s Federal Reserve meeting. Geopolitical uncertainty has added further pressure, with reports indicating that the U.S. is rapidly evacuating personnel from its embassies and military bases across the Middle East. Another source of selling pressure is Anthropic’s long-awaited IPO, which finally submitted its application early Monday, led by Goldman Sachs and Morgan Stanley. This AI giant plans to list on Nasdaq under the ticker symbol ANT, with a potential valuation of up to $2 trillion and fundraising of up to $100 billion. Meta has also announced a $95 billion stock offering, bringing the combined potential capital needs of the two companies close to $200 billion. Such large-scale offerings may prompt investors to liquidate other assets to free up liquidity—a similar scenario occurred ahead of SpaceX’s IPO in June this year.
Strive bought $511.4 million worth of Bitcoin, while Strategy held steady.
Bitcoin activity at the corporate treasury level reflects different market sentiment. Matt Cole, Chairman and CEO of Strive, stated that the company added 6,182 $BTC last week, valued at $511.4 million.
After raising over $600 million in its preferred stock IPO, Strive increased its total Bitcoin holdings to 43,000 $BTC, currently valued at approximately $3.44 billion. The company also raised its cash reserves to $504.4 million to establish a fund for paying preferred stock dividends.
DeFi Development Corp. continues to buy $SOL
Despite the weakening price of $SOL, institutional and infrastructure developments continue. Last week, Solana’s treasury company, DeFi Development Corp., purchased approximately 5,346 $SOL, increasing its holdings to 2.59 million $SOL.
Galaxy Research says "now is the time to buy $BTC"
Galaxy Research has issued a more optimistic outlook on Bitcoin’s prospects. In a report released on Monday, Alex Thorn, Head of Research at the firm, stated that Bitcoin’s bear market ended in June and the asset has now entered an accumulation phase.
Thorn noted that Bitcoin has now closed five consecutive weeks above its 50-week moving average, received support from its 200-week moving average, experienced reduced selling pressure, and strengthened the case for Bitcoin as a hedge against currency depreciation. He stated, "We believe this is an attractive time to buy and hold Bitcoin."
However, Bitcoin’s current weakness and its performance in October are challenging the historical narrative of “Uptober.” According to CoinGlass data, Bitcoin has declined by approximately 4% so far this month, while its average October return since 2010 has been 26.1%. October 2025 also failed to follow this pattern, with Bitcoin first dropping 3.9% before falling another 17.5% in November—despite the historical average November gain of 35%.
The market is focused on the Fed's decision on Wednesday.
The Federal Reserve will announce its interest rate decision on Wednesday, followed by a press conference from Fed Chair Kevin Warsh, making this the most important macro catalyst of the week. Meanwhile, a potential $100 billion IPO by Anthropic could prompt investors to reallocate liquidity, putting pressure on Bitcoin, Solana, and other risk assets.
Traders will monitor the Fed’s policy guidance for clues about future borrowing costs and liquidity conditions. A more hawkish stance could prolong pressure on Bitcoin and other risk assets, while a more dovish stance may support a market rebound.