Bitcoin: Plunges Below $78,500 on Binance Hack Reports
Bitcoin dropped $2,500 in 45 minutes below $78,500 for the first time in 40 days with $600 million in longs liquidated after unconfirmed Binance hack reports triggered $3 billion outflows, per @BullTheoryio.
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Bitcoin plunged $2,500 within 45 minutes below $78,500 for the first time in 40 days, liquidating $600 million in longs as unconfirmed reports of a massive Binance hack sparked $3 billion in outflows.
With price testing lower Bollinger support at $79,118.08 while the EMA50 at $80,934.47 caps upside in the bearish structure, the MACD death cross at -121.42 reinforces downside pressure even as RSI at 40.55 remains neutral.
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.