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Bitcoin (BTC) traded above $77,000 on Friday as crypto market liquidations passed $1.5 billion over 24 hours.
Key points:
- Bitcoin stemmed losses after dropping to $76,320 as markets processed details of a $6.3 billion hack on Binance.
- The effects of the hack on crypto markets were compounded by tech-stock losses that came with Q4 earnings projections. Intel Corporation (INTC) was down 26% premarket on Friday.
- Bitcoin’s relative strength index prints a bullish divergence on four-hour timeframes as sell-side pressure waned below $77,000.
US tech-stock sell-off adds to crypto jitters after Binance hack
Data from TradingView showed BTC/USD dropping as low as $76,320 amid the fallout from a $6.3 billion hack of the largest cryptocurrency exchange Binance.Â
BTC/USD one-day chart. Source: Cointelegraph/TradingView
Rolling 24-hour liquidations of traders across the industry reached $1.56 billion. Long positions accounted for the majority of this…
