HTX DeepThink: Security Incident Compounded by Tightening Expectations, BTC May Remain Highly Volatile and Weakly Rangebound in the Short Term

TechFlow news, October 30. Chloe, a HTX DeepThink columnist and HTX Research analyst, noted that this week the crypto market faced a dual shock from macro tightening expectations and the Binance security incident, with short-term risk appetite falling notably. BTC briefly dropped below $77,000, and 24-hour market-wide liquidations totaled approximately $1.55 billion, of which long liquidations were approximately $1.34 billion. Reportedly, the security incident involved approximately $6.3 billion in assets; Tether, Circle, and other institutions have assisted in freezing approximately $3 billion in related assets, and Binance has also pledged to cover user losses, but progress on the subsequent handling of the incident may still affect the pace of market sentiment recovery.
In terms of fund flows, U.S. spot BTC ETFs recorded net inflows of approximately $445 million over four consecutive trading days, but inflows slowed to approximately $17.1 million on October 29. Institutional funds did not show a synchronized panic-driven withdrawal, yet ETF buying was insufficient to fully absorb the selling pressure from the incident shock and leveraged liquidations. On the macro front, the Federal Reserve kept interest rates unchanged, and the trends in the U.S. dollar and U.S. Treasury yields continue to constrain risk appetite; with the U.S. midterm elections approaching next week, political uncertainty may further amplify volatility.
Looking ahead to next week, BTC is expected to maintain a pattern of high volatility and weak range-bound trading, with $77,000 as an important short-term watch level. If market sentiment gradually stabilizes as the incident unfolds and ETFs continue to record net inflows, BTC could rebound to test $80,000—$82,000; if panic sentiment persists and leveraged liquidations spread further, the price may test $75,000 or even lower. The key to short-term price action is whether the incident shock can be gradually absorbed by the market, avoiding a broader liquidity contraction.
Note: The content of this article is not investment advice and does not constitute an offer, solicitation of offers, or recommendation for any investment product.

Source: TechFlow