FxPro: Binance hack impact likely short-lived as BTC holds key support
- —Market cap dropped 2.2% in 24 hours, bottoming at $2.57 trillion, matching Sept 16 lows
- —BTC slipped below $76,500, its lowest in nearly six weeks, then rebounded to $78,000
- —Fear and Greed index plunged 21 points to 30
- —Binance froze roughly $3 billion of the $6.3 billion withdrawn
Why it matters: Whether BTC holds its 200-day moving average will determine if the hack stays a localized shock or escalates into a prolonged sell-off.
Source: Bitcoin Insider