Bitcoin sags near $76K as ETF investors yank $398M and Binance fallout lingers

Bitcoin can't catch a break. The largest crypto is hovering near $76,585, down about 2.25% over the past week and staring at its fourth consecutive weekly decline, according to Invezz. The $75,597 level — the 50-week simple moving average — is now the line in the sand.

The money is leaving. US spot Bitcoin ETFs shed roughly $202.59 million in the final week of October, then bled another $398.26 million on Monday, per SoSoValue. October closed with $515.03 million in net outflows, snapping a three-month run of inflows and signaling institutions are no longer in a buying mood.

Then there's Binance. The exchange disclosed a $6.3 billion security breach on October 29, with attackers hitting assets across ten blockchain networks. Binance said customer holdings stay protected and that it would cover losses through its Secure Asset Fund for Users and corporate reserves, while briefly pausing withdrawals for extra security checks. Once withdrawals reopened, customers pulled about $5.14 billion in 24 hours — roughly 3% of the platform's assets — before activity settled, the exchange said.

Technically, Bitcoin looks wobbly. The weekly RSI sits near 49, just under neutral, and the MACD histogram is still positive but shrinking. A weekly close below $75,597 could open the door to the 200-week SMA around $67,776, while a push back above $78,661 — the 61.8% Fibonacci level — would be the first sign buyers are stirring.

On the daily chart, BTC is clinging to its 200-day EMA near $76,466, sitting below the 100-day EMA at $77,821 and the 50-day EMA at $80,287. The daily RSI near 34 shows sellers still have the upper hand. Reclaiming $80,287 is the real test; clear it, and the $85,000 psychological mark comes into play. Lose $76,466, and sellers will likely take aim at $75,597.

The next move hinges on whether ETF flows turn around and how the market absorbs the stolen-asset overhang. For now, Bitcoin's rebound looks fragile — and the bulls need reinforcements.