October closed with BTC hovering around 77,400, down about 7% for the month. The market still hasn't recovered from the first weekend after the Binance hack, but there are a few signals worth watching 👇
📉 Market overview
$BTC Is moving sideways around 77,400. Everyone is watching support between 73,000 and 76,400, with resistance between 77,600 and 81,000.
$ETH Fell below 2,300 and is hovering around 2,250. Support is between 2,111 and 2,200; it would take a move back above 2,300 to signal a reversal.
SOL is holding between 95 and 96, XRP is around 1.25, while ZEC is surging, rising above 1,200.
💸 ETF funds are flowing out
On 10/30, spot BTC ETFs saw $643 million in outflows in a single day—the most in four months—and October as a whole also shifted to net outflows. ETH ETFs have now seen outflows for five consecutive days.
🏢 Public companies start selling crypto
Nasdaq-listed Next Technology authorized the sale or pledge of all 5,833 BTC it holds, while Tokyo-based Iole is willing to take a loss to liquidate 151 BTC and build an AI data center. Some crypto-hoarding companies are starting to change course.
🕵️ Tracking the Binance hack
The FBI confirmed that North Korea's TraderTraitor was behind it and also disclosed wallet addresses. By coincidence, an Ethereum block reorganization caused THORChain to pause automatically, blocking the hackers' path to laundering the funds. CZ also said he wouldn't sell his SpaceX shares and called on the industry to work together against hackers.
🐋 Whales are adding to their long positions against the trend
ETH long positions on Bitfinex have climbed to around 390,000 ETH, the highest level since June 2022. Ethereum staking also hit a record in October. Retail investors are selling while whales are buying—let's see together who's right.
⚠️ Disclaimer: This article compiles publicly available information from X and is for reference only. It does not constitute investment advice. Crypto assets are highly volatile; please make your own decisions and be mindful of the risks.