Bitcoin Price Recovers After Major Hacker Attack on Binance

The price of Bitcoin recovered to approximately $78,000 after a sell-off triggered by a record-breaking hack of Binance amounting to $6.3 billion on October 29. The rate dropped to $76,173, but the recovery has not yet overcome significant resistance levels. According to crypto news on November 2, BTC was trading around $78,053. On Monday during the Asian session, it briefly rose to $78,600 before giving up some of the gains. This rise followed three consecutive days of growth. Bitcoin has closed above the 50-week moving average of $75,728 for seven consecutive weeks; the latest close was $78,229, approximately 3.3% above the level.

On the daily chart, BTC remains below the 20- and 50-day EMA – $80,155 and $80,212. They are close together, making the 80000–80,200 zone an important resistance that buyers need to reclaim. Meanwhile, the price is above the 100-day EMA at $77,761 and the 200-day EMA at $76,460: two supports below the price. A sustained drop below would weaken the long-term structure and bring recent lows back into focus. The daily RSI is 38.97, below the signal 43.23 and neutral 50: sellers maintain an advantage, although the oversold zone below 30 is far off. On the four-hour chart, the MACD has shown early signs of improvement: the line at -356 is above the signal line at -553, the histogram is positive at 197, but both lines are below zero – this does not confirm a sustained reversal.

According to Fibonacci between $84,843 and $76,173, the nearest resistance is $78,219 (23.6%). A breakout above opens the path to $79,485, then to $80,508 (50%), further to $81,531 and $82,987. If $78,219 is not reclaimed, the price may drop to the EMA at $77,761, then to $76,460; breaking $76,173 would weaken the recovery, and the next level would be the 50-week MA around $75,728.

On October 30, spot Bitcoin ETFs in the US recorded an outflow of about $643.2 million – the largest since June. BlackRock IBIT contributed $233.7 million, Fidelity FBTC – $201 million, ARK 21Shares ARKB – $129.5 million; the outflow interrupted four sessions of inflows and left the funds with a weekly deficit of $202.4 million. Binance reported that withdrawals stabilized after a $3.64 billion outflow and replaced about 95% of the stolen assets. Coinbase Institutional identifies resistance at 80000–82,000 and support at 73000–75,000.