Bitcoin: Crashes to $76,000 on Record Exchange Hack

Bitcoin broke down to $76,000 instead of breaking higher after the largest crypto hack on record, according to trader @CryptoMichNL. The move swept the $78,400 level that had been flagged as critical support, triggering a rapid cascade with no intermediate bids until the $75,000 zone.

Price action now sits at $77,720.67 on the 4h chart inside a bearish structure defined by the EMA50 at $80,565.50 and EMA200 at $81,562.63. The MACD death cross at -609.38 confirms trend strength to the downside while RSI at 35.08 leaves room for further downside before oversold conditions appear. With price pressing the lower Bollinger Band near $77,689.39, any bounce attempt faces immediate resistance from the upper band at $82,673.53 and the 50-EMA overhead.