Bitcoin: Crashes Below $77K on Binance Hack - blockchain.news

Bitcoin has crashed below $77,000 following one of the largest hacks in financial history, with estimated losses reaching $5.6 billion or 3.9% of Binance's $144 billion in assets under custody. Binance has frozen $3 billion of the stolen crypto while the broader market saw $170 billion erased and $1.32 billion in positions liquidated within 12 hours.

Technical Analysis

Price action on the 4-hour chart shows Bitcoin at $77,163.56 testing the lower Bollinger Band support near $78,053.45. The EMA50 at $80,740.37 and EMA200 at $81,613.3 act as concrete resistance overhead.

The MACD death cross at -455.04 confirms bearish momentum, while the RSI at 32.39 sits neutral yet leaves room for further downside before any relief bounce materializes.