Bitcoin: Crashes Below $77K on Binance Hack
@BullTheoryio reports Bitcoin crashed below $77,000 after a $5.6 billion hack on Binance that froze $3 billion in assets and triggered $1.32 billion in liquidations wiping $170 billion from crypto markets.
SourceAnalysis
Bitcoin crashed below $77,000 after one of the largest hacks in financial history, with estimated losses hitting $5.6 billion or 3.9% of Binance's $144 billion in assets under custody, according to @BullTheoryio. Binance has frozen $3 billion of the stolen crypto while $170 billion was erased from the broader market and $1.32 billion in positions liquidated within 12 hours.
Price action on the 4h chart shows Bitcoin at $77163.56 testing the lower Bollinger Band support near $78053.45 while the EMA50 at $80740.37 and EMA200 at $81613.3 act as concrete resistance overhead. The MACD death cross at -455.04 confirms bearish momentum and the RSI at 32.39 sits neutral yet leaves room for further downside before any relief bounce materializes.
Bull Theory
@BullTheoryioResearch, Trades, onchain plays and all other crypto stuff simplified.Publishes institutional-grade cryptocurrency research and blockchain market intelligence. Delivers in-depth analysis of on-chain metrics, tokenomics, and decentralized finance (DeFi) ecosystems. Features proprietary data models, investment thesis breakdowns, and macro-level crypto trend forecasts. Provides strategic insights for sophisticated investors navigating digital asset markets. Maintains rigorous methodology in fundamental and technical analysis across crypto assets.