Bitcoin is attempting to stabilize around $78,000 after posting its fourth straight weekly loss. Market sentiment has been pressured by a record Binance security breach and a $643.3 million withdrawal from U.S. spot Bitcoin exchange‑traded funds on Friday.
Daily chart outlook
On the daily timeframe, Bitcoin continues to trade within a broad ascending channel that has guided the recovery from summer lows near $58,000. A rejection from the channel’s upper boundary and the $86,000–$90,000 supply zone in late September gave way to lower highs, and last week’s sell‑off pushed the price below the channel’s midline around $82,000.
The price is now inside a $75,000–$78,000 order block that formed the base of the September rally. A daily close below $75,000 would expose the channel’s lower boundary near $73,000, potentially invalidating the rally structure that has carried the price higher since mid‑year.
4‑hour chart details
On the 4‑hour chart, Bitcoin broke below the lower boundary of its ascending channel around October 23 and rebounded into a $80,000–$82,000 supply zone before a sharp sell‑off triggered by the Binance breach. Buyers stepped in at a $76,000 demand zone, lifting the price toward $79,000 before it eased back to roughly $78,000.
A sustained move above $79,000 could reactivate the $80,000–$82,000 supply zone, while a drop below $76,000 may test the $75,000 demand level, the last support before the daily channel’s lower boundary.
On‑chain velocity
The CryptoQuant Velocity metric, which measures how quickly coins circulate relative to total supply, has risen to its highest level since late 2024. After falling from about 15.8 in early 2024 to roughly 12.1 in October 2025 during a rally to an all‑time high near $125,000, velocity has climbed back to around 14.6 as the price fell.
This increase indicates that previously idle coins are re‑entering circulation, a pattern that may weaken the supply‑squeeze dynamics that supported the 2025 rally. If velocity continues to rise while Bitcoin remains below $82,000, pressure on the $75,000 order block could intensify.
