Bitcoin Fights Back Above $78,000 After October's Sell-Off — But Is the Recovery Real? $BTC
Here is today's news, in simple words. Last week, a reported security breach of about $6.3 billion at Binance shook the whole market, and Bitcoin fell toward $76,300. Binance said it would cover the losses, and that calmed traders. By 5:00 AM PKT today (2 Nov), Bitcoin had bounced back to about $78,350, up around 1% in 24 hours, while Ethereum traded near $2,275.
What does it mean? The panic has eased, but big investors are still careful — US spot Bitcoin ETFs saw about $202 million in outflows last week. Momentum is still weak, with the daily RSI near 40, below the neutral 50 level.
Levels everyone is watching: support at $77,831 (the 100-day average price line), then the $76,000 zone below it. Resistance at $79,200 first, then $80,307 (the 50-day average). If Bitcoin holds $77,831 and closes a day above $80,307, the recovery gets much stronger, with $85,000 next in view. If it slips below $77,831, a fall back toward $76,000 is on the cards.
Do you think Bitcoin holds above $78,000 this week, or does it slide back toward $76,000?
Educational content only, not financial advice.
#BinanceSquare #WriteToEarn #Bitcoin #CryptoNews
Here is today's news, in simple words. Last week, a reported security breach of about $6.3 billion at Binance shook the whole market, and Bitcoin fell toward $76,300. Binance said it would cover the losses, and that calmed traders. By 5:00 AM PKT today (2 Nov), Bitcoin had bounced back to about $78,350, up around 1% in 24 hours, while Ethereum traded near $2,275.
What does it mean? The panic has eased, but big investors are still careful — US spot Bitcoin ETFs saw about $202 million in outflows last week. Momentum is still weak, with the daily RSI near 40, below the neutral 50 level.
Levels everyone is watching: support at $77,831 (the 100-day average price line), then the $76,000 zone below it. Resistance at $79,200 first, then $80,307 (the 50-day average). If Bitcoin holds $77,831 and closes a day above $80,307, the recovery gets much stronger, with $85,000 next in view. If it slips below $77,831, a fall back toward $76,000 is on the cards.
Do you think Bitcoin holds above $78,000 this week, or does it slide back toward $76,000?
Educational content only, not financial advice.
#BinanceSquare #WriteToEarn #Bitcoin #CryptoNews
