Bitcoin Holds Above $77,000 as $1.6 B Liquidations Follow Binance Hack

Bitcoin (BTC) closed above $77,000 on Friday after a 24‑hour surge of $1.56 billion in liquidations across the crypto market, the majority of which were long positions. The rally came after BTC fell to $76,320 amid the fallout from a $6.3 billion hack of Binance, the world’s largest cryptocurrency exchange. Binance described the attack as “complex” and confirmed that all user losses would be covered by its SAFU fund and other resources. The market also faced broader headwinds from a tech‑stock sell‑off, with Intel’s shares plunging 26% pre‑market after issuing a weaker‑than‑expected outlook. Technical indicators on the four‑hour chart show a bullish divergence in the relative strength index (RSI), which dropped to 34.7, and the price is trading below the lower Bollinger Band, suggesting a potential mean‑reversion. These developments indicate a possible short‑term rebound for BTC amid ongoing market uncertainty.