Bitcoin is trading around **$77,420** today, down slightly by 0.06% over 24 hours as of early Saturday morning . The price has been fluctuating in the $77,000 range, briefly dipping below $77,000 earlier in the day with a sharper 4.69% decline before recovering .
The market weakness follows a major hack at Binance, the world's largest crypto exchange, which pushed Bitcoin to its lowest level since mid-last month at one point. Bargain hunting briefly lifted prices back to $78,000 before they slid again . Broader crypto markets are also under pressure, with over 82,000 traders liquidated in the past 24 hours .
Several factors are weighing on sentiment. October has been a rough month for crypto, with Bitcoin down about 10% amid AI bubble concerns and risk-off behavior . The upcoming U.S. midterm elections are adding uncertainty, particularly regarding potential regulatory shifts, while expectations of a December rate hike—now priced at 78% probability—are squeezing liquidity from risk assets . Trading volume has also dropped significantly, with one snapshot showing a 57.39% decline .
Despite the gloom, some analysts see opportunity. Standard Chartered and Bernstein have trimmed year-end targets but still expect recovery, and historical patterns suggest post-election rebounds have averaged over 50% in the year following midterms . For now, Bitcoin is testing the $76,000–$77,000 support zone, a level traders are watching closely .#HeYiSaysWithdrawalsExpectedtoResumeWithin42Hours #CZSaysCompensationIsinPlaceUsersAreProtected #IntelHasItsWorstDaySince1974 $MSFTB $AMZNB
The market weakness follows a major hack at Binance, the world's largest crypto exchange, which pushed Bitcoin to its lowest level since mid-last month at one point. Bargain hunting briefly lifted prices back to $78,000 before they slid again . Broader crypto markets are also under pressure, with over 82,000 traders liquidated in the past 24 hours .
Several factors are weighing on sentiment. October has been a rough month for crypto, with Bitcoin down about 10% amid AI bubble concerns and risk-off behavior . The upcoming U.S. midterm elections are adding uncertainty, particularly regarding potential regulatory shifts, while expectations of a December rate hike—now priced at 78% probability—are squeezing liquidity from risk assets . Trading volume has also dropped significantly, with one snapshot showing a 57.39% decline .
Despite the gloom, some analysts see opportunity. Standard Chartered and Bernstein have trimmed year-end targets but still expect recovery, and historical patterns suggest post-election rebounds have averaged over 50% in the year following midterms . For now, Bitcoin is testing the $76,000–$77,000 support zone, a level traders are watching closely .#HeYiSaysWithdrawalsExpectedtoResumeWithin42Hours #CZSaysCompensationIsinPlaceUsersAreProtected #IntelHasItsWorstDaySince1974 $MSFTB $AMZNB