Bitcoin's $77,000-$80,000 Support Being Tested — Market Talk
Bitcoin's recovery into the $77,000-$80,000 support band is being tested after Binance's hack last week, Bitfinex analysts say in a note. This suggests buyers are still defending this critical price range. Bitcoin held above $80,000 through the Federal Reserve's decision on Oct. 28, but was around $78,000 on Oct. 29, the day of the hack. "What happens next in equities is therefore likely to set bitcoin's range this week," the analysts say. Still, bitcoin continues to be pressured by relatively weak spot demand and mounting pressure from U.S. tech stock valuations, they add. Bitcoin is 0.4% higher at $77,025.03. ([email protected])