Overview
- The Federal Reserve left its policy range at 3.75%–4.00% on October 28 and emphasized persistent inflation, a move that tightened risk appetite and pressured crypto markets.
- A large security incident at Binance late on October 28–29 is estimated to have involved roughly $6 billion with about $3 billion frozen on-chain and coincided with heavy forced selling.
- Derivatives trackers recorded about $1.5 billion in recent liquidations, roughly $1.3 billion of them long positions, which amplified the price decline through margin calls and cascading exits.
- Bitcoin now trades around $76,000–$77,000 on top of a dense support band made up of the 100-day moving average and the 0.382 Fibonacci level, and a sustained break below that zone would expose the 200-day moving average near $73,000.
- With spot ETF flows turning negative and stablecoin inflows sharply reduced, traders say liquidity is thinner and the next moves will hinge on whether buyers defend $76,000 or sellers force further technical stops and wider losses.