đ¨ $BTC Drops Below $77,000 on US Election Day â What Is Happening?
Bitcoin slipped to about $76,800 this morning (3 Nov, PKT), down nearly 2% in 24 hours, after falling from around $78,400. Ethereum also eased to about $2,250.
Why is it dropping? Three reasons:
⢠US midterm voting starts today, and traders are cautious before the results.
⢠US spot Bitcoin ETFs saw about $643 million in outflows on 30 Oct, their biggest single-day exit since June.
⢠About $366 million in crypto positions were liquidated in 24 hours, adding to the selling pressure.
Levels traders are watching: support at $76,000â$76,600. If it holds, a bounce toward $79,500â$80,500 resistance is possible. If $76,000 breaks, the next level traders watch is near $75,700.
The Fear & Greed Index sits at 26 (Fear), showing how nervous the market feels right now.
A red day like this is normal around a major event â it is not a reason to panic, and it is not a signal to buy or sell.
Do you think Bitcoin holds $76,000 this week, or breaks lower?
Educational content only, not financial advice.
#BinanceSquare #WriteToEarn #Bitcoin #CryptoNews
Bitcoin slipped to about $76,800 this morning (3 Nov, PKT), down nearly 2% in 24 hours, after falling from around $78,400. Ethereum also eased to about $2,250.
Why is it dropping? Three reasons:
⢠US midterm voting starts today, and traders are cautious before the results.
⢠US spot Bitcoin ETFs saw about $643 million in outflows on 30 Oct, their biggest single-day exit since June.
⢠About $366 million in crypto positions were liquidated in 24 hours, adding to the selling pressure.
Levels traders are watching: support at $76,000â$76,600. If it holds, a bounce toward $79,500â$80,500 resistance is possible. If $76,000 breaks, the next level traders watch is near $75,700.
The Fear & Greed Index sits at 26 (Fear), showing how nervous the market feels right now.
A red day like this is normal around a major event â it is not a reason to panic, and it is not a signal to buy or sell.
Do you think Bitcoin holds $76,000 this week, or breaks lower?
Educational content only, not financial advice.
#BinanceSquare #WriteToEarn #Bitcoin #CryptoNews
