Bitcoin: Holds $77K Despite $6.3B Binance Hack

Bitcoin is holding $76,000-$78,000 despite a reported $6.3 billion hack at Binance, a hawkish Fed and rising U.S. political uncertainty, according to Bull Theory. The account draws parallels to 2023 when banking failures at Silicon Valley Bank, Signature Bank and Silvergate, plus SEC suits against Binance and Coinbase, failed to push BTC below its cycle lows.

Price action now shows similar buyer absorption of negative headlines. Bitcoin is trading at $77740.45 on the 4h chart inside a bearish structure defined by the EMA50 at $78658.01 and EMA200 at $80914.36. Momentum sits neutral with RSI(14) at 47.98 while MACD registers a bullish golden cross at -436.45. The market is compressing inside the Bollinger Bands, testing upper resistance near $78653.38 with lower support at $76643.58. With price pressing the upper band while the longer EMAs cap upside, a measured pullback toward the EMA50 support remains the highest-probability path before any sustained continuation.