Bitcoin Tests Key $77,000–$80,000 Support After Binance Hack
Bitcoin is trying to recover into the $77,000–$80,000 zone, but Bitfinex analysts see weak spot demand and stretched US tech valuations weighing on it.
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what happened
Bitcoin is trying to recover into the $77,000–$80,000 support zone, but the move is being tested after the Binance hack last week, according to a note from Bitfinex analysts.
In their view, buyers still appear to be defending this key price range. Bitcoin stayed above $80,000 through the Fed's Oct. 28 decision, but slipped to about $78,000 on Oct. 29, the day of the hack. It is now 0.4% higher at $77,025.03.
The analysts say US equities this week will likely set the bitcoin range. Meanwhile, the token faces relatively soft spot demand and growing pressure from lofty valuations in US technology stocks.
why it matters
For markets, the key point is that bitcoin is holding near the lower edge of this zone, so its next move will depend on US equities and real spot demand. A technical level alone does not guarantee a reversal, which makes the price reaction to tech-sector news worth watching.
market impact
Bitcoin: weak spot demand and pressure from tech shares cap the price
- Bitcoin pressure down — weak spot demand and pressure from US tech stock valuations
tags
instruments
sources
- Bitcoin's $77,000-$80,000 Support Being Tested — Market Talk, 3 November 2026 at 02:06 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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