In this video: We analyse Bitcoin on 30 October 2026 using Elliott Wave, with the 138% extension at $74,339 as the first ideal target for Bitcoin. The ongoing Binance hack seems to have been the catalyst for this dip, but the chart was already prepared: both broke below the white trend line, and the decline now looks like a third wave down. Ethereum remains weaker than Bitcoin and could move toward the $2,050 area. Video by More Crypto Online.
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Bitcoin (BTC) is trading around $78,400 (or roughly €70,170 EUR), facing downward pressure as the broader crypto market reacts to major security incidents.
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Bitcoin Insights Today
• Suspected Binance Breach & Polymarket Exploit: Sentiment turned cautious following reports of a suspected $6.3 billion security breach affecting Binance (with $3 billion in assets frozen by the exchange and billions more flagged by stablecoin issuers Circle and Tether) alongside an exploit on Polymarket.
• Massive Futures Liquidations: The sudden volatility triggered over $1.49 billion to $1.5 billion in market-wide liquidations within 24 hours, heavily punishing long (bullish) leveraged futures positions. Bitcoin longs accounted for nearly $468 million of those liquidations.
• Analyst Outlook: Standard Chartered warned that cryptocurrency prices may remain under near-term pressure and consolidate until full clarity emerges around the Binance incident and frozen funds.
• Macro Headwinds: Broader risk-off sentiment across global markets—including steep pullbacks in tech stocks and rising energy/oil concerns—has added pressure to risk assets like Bitcoin.
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