Crypto market today: Bitcoin up 0.34% as traders weigh Binance hack fallout
Bitcoin rose 0.34% in the last 24 hours to about $78,185, while the wider market was mixed, with 88 of 215 tracked coins up. The most likely reasons are caution after the Binance hack, where withdrawals reopened and large outflows were reported, and Bitcoin ETF outflows of $643.2 million on Friday.
What moved the market
- Binance reopened withdrawals after what is described as its largest-ever hack. Reports say billions of dollars left the exchange, which may make traders cautious.
- Bitcoin ETFs recorded $643.2 million in outflows on Friday, a sign of weaker demand that can add pressure to Bitcoin prices.
- Bitcoin funding is positive at 0.0064% per 8 hours, while Ethereum is slightly negative at -0.0026%, so leverage sentiment is mixed across major coins.
- Bitcoin open interest fell 1.15% over 24 hours, and the Fear and Greed index is at 37 (Fear), up from 34 yesterday.
What to watch next
Watch whether Bitcoin holds support at $77,721 and then $77,129, since a drop below these levels would signal more weakness. A move above resistance at $78,647 could bring the $78,980 level into focus.
Bitcoin levels to watch today
Classic daily pivot levels for BTC, calculated from the last completed daily candle.
