Bitcoin fell as low as $76,320 following the $6.3 billion hack targeting Binance, the largest cryptocurrency exchange. Liquidations across the industry over 24 hours reached $1.56 billion, with long positions accounting for $1.31 billion of the total. Downside pressure eased after Binance said its SAFU fund and other company resources would cover all user losses. Technically, Bitcoin closed below the lower Bollinger Band, while its relative strength index fell to 34.7 and showed a bullish divergence on the four-hour timeframe, pointing to a possible local trend reversal.
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