📡 Market Update | BTC View
BTC wicked down to around 77k, and that wick could be the local bottom. The 74k to 76k zone looks like strong support, and with Binance covering the losses, downside could be limited.
Net buying pressure could stay strong if Binance needs to buy back around $1.4B at market, while the hacker cannot dump quickly. Those who were worried have already sold.
On alts, the stance stays more cautious. Binance should recover, but the incident brings back memories of October 10. ICE and Stan Druckenmiller backing Hyperliquid based perps in the US, right as Binance takes the biggest hack, is a side story worth noting. The main watch stays on BTC and that 74k to 76k zone.
📌 Personal opinion, not financial advice. DYOR.
#BTC #Bitcoin #CryptoMarket #Altcoins
$BTCUSDT
BTC wicked down to around 77k, and that wick could be the local bottom. The 74k to 76k zone looks like strong support, and with Binance covering the losses, downside could be limited.
Net buying pressure could stay strong if Binance needs to buy back around $1.4B at market, while the hacker cannot dump quickly. Those who were worried have already sold.
On alts, the stance stays more cautious. Binance should recover, but the incident brings back memories of October 10. ICE and Stan Druckenmiller backing Hyperliquid based perps in the US, right as Binance takes the biggest hack, is a side story worth noting. The main watch stays on BTC and that 74k to 76k zone.
📌 Personal opinion, not financial advice. DYOR.
#BTC #Bitcoin #CryptoMarket #Altcoins
$BTCUSDT
