Overview
- Bitcoin fell below $77,000 on Tuesday, erasing an earlier recovery and putting pressure on a possible fifth consecutive weekly loss.
- Binance said roughly $6.3 billion was stolen in a late-October breach, that it covered about $6 billion internally, and that investigators and the exchange have frozen roughly $3 billion in suspected stolen assets.
- U.S. spot Bitcoin ETFs recorded large net outflows that continued into early November, with about $643.3 million withdrawn on Oct. 30 and roughly $398–399 million on Nov. 2, increasing selling pressure on price.
- Derivatives liquidations totaled roughly $365–366 million during recent sell-offs, with long positions accounting for the bulk of forced closures, and a global tech and semiconductor selloff amplified losses.
- Traders are watching whether $76,000–$76,600 holds and whether ETF flows, movements from the hackers’ wallets, midterm-election results and the Nov. 6 jobs report restore confidence or push prices lower.