Bitcoin Price Consolidation Likely to Trigger Bearish Breakdown Below $70,000

Bitcoin gave back its Monday bounce as the Binance hack rattled traders. Customers kept pulling funds from the exchange, and the stablecoin freezes that followed showed how far the damage reached. The timing is poor for bulls. Bitcoin is sitting on its most watched trend marker just as trust in exchanges fades. Traders want to know if buyers can defend this line or if the range ends in a deeper break. Bitcoin slid back toward Friday's crisis-driven lows on Monday afternoon, Nov. 2. The early-week bounce faded as traders weighed the fallout from a $6.3 billion theft at Binance.

Source: Crypto Daily