Bitcoin stalls below $77,000 as $1B plus exits US funds
Business
Bitcoin just can't seem to push past $77,000 lately. Over Friday and Monday, investors have pulled out more than $1 billion from US Bitcoin funds.
The mood's been shaky after a major hack hit Binance, and with the US midterm elections coming up, leaving people a bit uneasy about what's next for crypto.
Binance hack prompts market caution
The Binance hack (reportedly by North Korea) sparked serious security worries and even paused withdrawals briefly, even though most assets were recovered.
On top of that, traders are playing it safe: futures saw heavy selling while spot markets had some cautious buying.
With election results possibly changing crypto rules in the US analysts say it'll take something big to get Bitcoin moving again.