Bitcoin was trading around $77,552 on the morning of November 3, up 0.19% over 24 hours, after surging more than 22% in seven days. This rally triggered the liquidation of over $2.7 billion in bearish bets across crypto markets, including over $1 billion in BTC shorts wiped out in roughly one hour. The move was attributed to US Treasury support for long-duration bond buybacks and President Trump’s Clarity Act, which renewed risk appetite for digital assets. Bitcoin was consolidating inside a mildly downward-sloping one-hour channel, oscillating between support near $75,000-$76,000 and resistance at $77,800-$80,000, with bulls targeting $89,000.
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