Bitcoin Faces Technical Setback Amid Selloff Pressure
Bitcoin's recent selloff has broken key support levels, raising concerns about further downside.
Bitcoin's recent selloff has broken key support levels, raising concerns about further downside. Bitcoin (BTC) is trading at $77,513.00. This is an original TLT brief based on reporting by CaptainAltcoin, with live market data added, as of Sat, 31 Oct 2026 17:45:02 UTC.
The breach of critical technical support levels like the daily EMA50 and MA50 could signal increased selling pressure and a potential deepening of the current correction.
- Bitcoin dropped from $80,000s to $76,000-$77,000 range after Binance hack.
- Key technical support levels EMA50 and MA50 were breached.
- Analyst Doctor Profit warns of potential drop toward $67K-$69K.
- OpenSea Faces Growing Pressure to Support Bitcoin Ordinals and Runes
- Crypto Market Faces Downward Pressure on October 24
- Crypto Market Analysis: Bitcoin and Altcoins Face Technical Pressure
- Bitcoin Faces Selling Pressure as Whales Transfer $200M
- Crypto Market Faces Pressure Amid Binance Hack and Bearish Sentiment
- Bitcoin Faces Critical Support Test After Binance Hack Selloff
- Bitcoin Faces Technical Setback Amid Selloff Pressure — this brief
Bitcoin has suffered a sharp selloff in recent trading sessions, with the price dropping from the low-$80,000s to the $76,000-$77,000 area following the Binance hack.
This decline has broken through key technical support levels, including the daily EMA50 and MA50, which analysts had identified as important price floors.
According to analyst Doctor Profit, this technical breakdown could signal further downside, with a potential target range of $67,000-$69,000.
The breach of these support levels is a significant development, as they had previously acted as reliable indicators of bullish momentum.
Despite the short-term bearish signals, the broader market remains relatively stable, with the total crypto market cap at $2.67 trillion and Bitcoin's market cap at $1.56 trillion.
Since this brief published about 46 minutes ago, Bitcoin (BTC) has moved from $77,518.00 to $77,513.00 — -0.01%.
The chart plots BTC's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution; intraday detail builds over the first day). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 BTC ≈ ₦106.59M (about $77,513.00), up 0.5% over 24 hours. The naira itself trades about 2.2% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Bitcoin Faces Technical Setback Amid Selloff Pressure — questions & answers
What caused Bitcoin's recent price drop?
The selloff was triggered by the Binance hack, leading to a decline from the low-$80,000s to the $76,000-$77,000 range.
What technical levels were breached?
The daily EMA50 and MA50 support levels were broken, indicating increased selling pressure.
What is the analyst's outlook?
Doctor Profit warns of potential further downside toward $67,000-$69,000 but maintains a long-term bullish outlook.
How much is 1 Bitcoin worth in naira today?
About ₦106.59M at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $77,513.00. The naira price moves with both BTC's US-dollar price and the USDT/NGN rate; use our Bitcoin in naira page for any amount.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from CaptainAltcoin. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.