BTC Holds Above $77,000 for Now | “I Predicted the Theft in Advance” Screenshot Is Fake | I Trade Only on Verifiable Information
My stance is cautious and watchful. I wouldn’t treat a chat screenshot as a reason to go long or short on BTC. Binance Square is discussing a screenshot circulating online that supposedly shows someone predicting in advance that Binance would be hacked. The verified Binance News account relayed CZ’s response: the third image, supposedly showing him contacting people involved, is fabricated; he cannot verify the other claims. The distinction matters: confirming that one image is fake doesn’t mean the entire timeline has been established, and something that cannot be verified shouldn’t be taken as proof that a conspiracy is real. Traders who base their positions on unverified social media screenshots often let emotion dictate their stop-losses and position sizes.
Another verifiable piece of information is that on October 31, the FBI publicly attributed the theft of more than $6 billion in Binance assets to North Korea’s TraderTraitor operation and listed related addresses. This is an attribution and investigative lead from a law enforcement agency, not a report on the root cause of the Binance incident. Binance’s November 1 resumption announcement said that withdrawals on networks including BTC would reopen in phases during the first stage; affected assets had been replenished overall to about 95%, and the balances of ten assets, including BTC, were fully backed. A full incident investigation report is still pending. My view is that the resumption of services and replenishment of assets have eased short-term concerns about a bank run, but they do not automatically undo the damage to capital flows and security confidence. What matters most to watch now is the actual stability of withdrawals, the forthcoming official report, and whether ETF outflows stop—not the buzz around rumors.
The market didn’t immediately move in one direction after the rumors were debunked. At the time of writing, BTC/USD was around $77,759 on Kraken, with a 24-hour range of approximately $77,245 to $78,135. Farside shows combined net outflows of about $643.2 million from U.S. spot BTC ETFs on October 30. That is data for a reported trading day, not live weekend flows. First, watch whether the price holds around $77,200; next, see whether it can stay above roughly $78,100. For now, I see this as a recovery phase following the security incident. That view would be invalidated if officials disclose new uncovered liabilities, withdrawals are disrupted at scale again, or BTC decisively breaks below $77,200 on high volume. If it holds above $78,100 and flows improve, I’ll reassess the upside.
If I were trading this myself, I wouldn’t chase the move in either direction right now. My directional stance is to wait and see, with 0% in new spot positions and 0% in leveraged positions. I’d consider a small long using no more than 3% of total capital only if BTC holds above $78,100 for at least two consecutive one-hour candle closes, then retests the level without breaking below it, and withdrawals are confirmed to be operating normally. My initial target would be $79,000, where I’d halve the position; I’d target $79,800 for the remainder. I’d place a stop-loss below $77,400 and close the position unconditionally if the one-hour candle closes back below $77,200. If the entry conditions never appear, I’ll stay out rather than mistake a plan for a trade. If a sudden announcement causes a gap, I’ll abandon this trade and recalculate the risk-reward ratio.
#CZDebunksRumor: Viral Chat Logs Predicting Binance Hack Were Fabricated #BTC
The above is solely my personal market commentary and does not constitute investment advice.
My stance is cautious and watchful. I wouldn’t treat a chat screenshot as a reason to go long or short on BTC. Binance Square is discussing a screenshot circulating online that supposedly shows someone predicting in advance that Binance would be hacked. The verified Binance News account relayed CZ’s response: the third image, supposedly showing him contacting people involved, is fabricated; he cannot verify the other claims. The distinction matters: confirming that one image is fake doesn’t mean the entire timeline has been established, and something that cannot be verified shouldn’t be taken as proof that a conspiracy is real. Traders who base their positions on unverified social media screenshots often let emotion dictate their stop-losses and position sizes.
Another verifiable piece of information is that on October 31, the FBI publicly attributed the theft of more than $6 billion in Binance assets to North Korea’s TraderTraitor operation and listed related addresses. This is an attribution and investigative lead from a law enforcement agency, not a report on the root cause of the Binance incident. Binance’s November 1 resumption announcement said that withdrawals on networks including BTC would reopen in phases during the first stage; affected assets had been replenished overall to about 95%, and the balances of ten assets, including BTC, were fully backed. A full incident investigation report is still pending. My view is that the resumption of services and replenishment of assets have eased short-term concerns about a bank run, but they do not automatically undo the damage to capital flows and security confidence. What matters most to watch now is the actual stability of withdrawals, the forthcoming official report, and whether ETF outflows stop—not the buzz around rumors.
The market didn’t immediately move in one direction after the rumors were debunked. At the time of writing, BTC/USD was around $77,759 on Kraken, with a 24-hour range of approximately $77,245 to $78,135. Farside shows combined net outflows of about $643.2 million from U.S. spot BTC ETFs on October 30. That is data for a reported trading day, not live weekend flows. First, watch whether the price holds around $77,200; next, see whether it can stay above roughly $78,100. For now, I see this as a recovery phase following the security incident. That view would be invalidated if officials disclose new uncovered liabilities, withdrawals are disrupted at scale again, or BTC decisively breaks below $77,200 on high volume. If it holds above $78,100 and flows improve, I’ll reassess the upside.
If I were trading this myself, I wouldn’t chase the move in either direction right now. My directional stance is to wait and see, with 0% in new spot positions and 0% in leveraged positions. I’d consider a small long using no more than 3% of total capital only if BTC holds above $78,100 for at least two consecutive one-hour candle closes, then retests the level without breaking below it, and withdrawals are confirmed to be operating normally. My initial target would be $79,000, where I’d halve the position; I’d target $79,800 for the remainder. I’d place a stop-loss below $77,400 and close the position unconditionally if the one-hour candle closes back below $77,200. If the entry conditions never appear, I’ll stay out rather than mistake a plan for a trade. If a sudden announcement causes a gap, I’ll abandon this trade and recalculate the risk-reward ratio.
#CZDebunksRumor: Viral Chat Logs Predicting Binance Hack Were Fabricated #BTC
The above is solely my personal market commentary and does not constitute investment advice.
