Bitcoin Falls Below $77,000 as Crypto Liquidations Reach $1.55 Billion

HTX DeepThink columnist and HTX Research researcher Chloe linked Bitcoin's drop below $77,000 this week to a Binance security incident and tighter-policy expectations as crypto liquidations reached $1.55 billion over 24 hours.

About $1.34 billion of the liquidations came from long positions. Tether, Circle and other institutions helped freeze about $3 billion in related assets, and Binance pledged to cover users' losses.

U.S. spot Bitcoin exchange-traded funds recorded about $445 million in net inflows over four consecutive trading sessions. Inflows slowed to about $17.1 million on Oct. 29. Chloe said ETF buying had not fully offset selling pressure from the incident and leveraged liquidations.

The Federal Reserve held interest rates steady. Chloe said the dollar and Treasury yields were weighing on risk appetite, and uncertainty ahead of next week's U.S. midterm elections could amplify market swings.