Today's midterm elections: Can Trump continue to win? ❓
November 3 $BTC Comprehensive Market Analysis
💹 News:
Hack aftermath: The earlier theft of approximately $6.3 billion from hot wallets continues to weigh on sentiment. Withdrawals have gradually resumed, and officials say most of the losses are covered by the SAFU Fund. Users' principal was not directly affected, but lingering concerns about trust remain in the market.
Macroeconomics and elections: The U.S. midterm elections (November 3) are approaching, and the market is watching how the results may affect risk assets. Oil prices have also plunged amid progress in U.S.-Iran diplomacy, indirectly affecting risk appetite.
Institutions such as Strategy are still adding to their holdings in small amounts, but the overall news is neutral to cautious.
💹 Fund flows:
U.S. spot Bitcoin ETFs have seen continued outflows recently:
Net outflows of about $643 million on October 30 alone
October overall shifted to net outflows
Some data also indicates continued outflow pressure in early November
💹 Sentiment:
The Fear and Greed Index is at 26 (Fear), well below neutral.
💹 Technical analysis:
Do you remember what I told you yesterday? I said that even if the price rebounded from this level, it would ultimately come back down. Yesterday closed with a large bearish candle. Although yesterday's price action looked quite lively, the bulls eventually ran out of steam.
The daily chart as a whole has not yet formed a bottoming pattern. For intraday trading, watch the one-hour and four-hour charts. At the current level, the four-hour chart may form a bullish divergence and drive a rally. Resistance is at 80K; as long as 80K is not decisively broken, the outlook remains downward.
Support: 76800–75000
Resistance: 78300–80000
November 3 $BTC Comprehensive Market Analysis
💹 News:
Hack aftermath: The earlier theft of approximately $6.3 billion from hot wallets continues to weigh on sentiment. Withdrawals have gradually resumed, and officials say most of the losses are covered by the SAFU Fund. Users' principal was not directly affected, but lingering concerns about trust remain in the market.
Macroeconomics and elections: The U.S. midterm elections (November 3) are approaching, and the market is watching how the results may affect risk assets. Oil prices have also plunged amid progress in U.S.-Iran diplomacy, indirectly affecting risk appetite.
Institutions such as Strategy are still adding to their holdings in small amounts, but the overall news is neutral to cautious.
💹 Fund flows:
U.S. spot Bitcoin ETFs have seen continued outflows recently:
Net outflows of about $643 million on October 30 alone
October overall shifted to net outflows
Some data also indicates continued outflow pressure in early November
💹 Sentiment:
The Fear and Greed Index is at 26 (Fear), well below neutral.
💹 Technical analysis:
Do you remember what I told you yesterday? I said that even if the price rebounded from this level, it would ultimately come back down. Yesterday closed with a large bearish candle. Although yesterday's price action looked quite lively, the bulls eventually ran out of steam.
The daily chart as a whole has not yet formed a bottoming pattern. For intraday trading, watch the one-hour and four-hour charts. At the current level, the four-hour chart may form a bullish divergence and drive a rally. Resistance is at 80K; as long as 80K is not decisively broken, the outlook remains downward.
Support: 76800–75000
Resistance: 78300–80000
