Bitcoin traded near $77,000 after falling below $80,000 following the October 29 Binance hack, while technology stocks faced selling pressure after earnings reports and concerns about artificial intelligence infrastructure spending. Xapo Bank’s chief executive said the relative strength may reflect fewer attractive alternatives for investors and holders’ reluctance to sell their bitcoin. Bitget Wallet analysts warned, however, that weak spot demand has not yet confirmed a sustained recovery. Bitcoin is testing support between $76,500 and $77,000, while US spot bitcoin ETFs recorded approximately $643 million in net outflows on October 30.
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