{"id":35462,"date":"2026-11-03T07:11:43","date_gmt":"2026-11-03T07:11:43","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&p=35462"},"modified":"2026-11-03T07:11:44","modified_gmt":"2026-11-03T07:11:44","slug":"bitcoin-nov-midterms-2026","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/de\/education\/market-insights\/chart-of-the-day\/bitcoin-nov-midterms-2026\/","title":{"rendered":"Bitcoin: Hacked and Now Testing a Critical 200-Day EMA Support"},"content":{"rendered":"\n

Following a massive 6.3 billion dollar hack on Binance, Bitcoin has fallen almost -5% overnight on October 29th, and is now testing the 200-Day EMA at $76,445.<\/p>\n\n\n\n

Along with the 50-week EMA<\/a> at 78,457.99 which has already been lost, both EMA settings have been major pivot points in the past for the king of cryptocurrency.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Simple read: <\/strong><\/p>\n\n\n\n

1. Bounce here and rally, at the 200 day EMA (in purple)<\/em>, and Bitcoin maintains its bullish posture.<\/p>\n\n\n\n

2. Lose this area however, and Bitcoin returns to a more bearish posture.<\/p>\n\n\n\n

Broader level read:<\/strong> Bitcoin is still holding its multiyear rising logarithmic channel<\/strong> and 200 week EMA area (Bollinger Band<\/a> set to 0.25 standard deviation).<\/p>\n\n\n\n

Historically since 2019, the asset has found support here 4 out of 5 times after first initially breaking it to the upside.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Does that mean that the low is currently in?<\/p>\n\n\n\n

No. We still have bigger concerns in the picture. First off, today is the Midterms Election for the United States. Bitcoin has historically  fallen in the first 6 months after midterms<\/strong>, unlike the S&P 500.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Secondly, the BITBO NUPL chart is still not flashing a capitulation signal, where most Bitcoin holders are sitting in a loss and that usually signals a low is in.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Both these signals combined signal to me that it is not out of the picture for BTCUSD to break down from the weekly log channel<\/em><\/strong>. <\/p>\n\n\n\n

Unfortunately, that does mean some potential turbulence<\/strong> is in the picture within a 6 month window for BTC and MSTR (MicroStrategy). <\/p>\n\n\n\n

The saving grace is that the sample size is small, but nevertheless, more downside is still the higher probabilistic view.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin tests its 200-day EMA at $76.4k after a $6.3B Binance hack. Midterm post-election trends and NUPL data suggest potential near-term risks.<\/p>\n","protected":false},"author":159,"featured_media":35487,"parent":0,"comment_status":"open","ping_status":"closed","template":"","market_insights_categories":[18],"class_list":["post-35462","market_insights","type-market_insights","status-publish","has-post-thumbnail","hentry","market_insights_categories-chart-of-the-day"],"acf":[],"yoast_head":"\nBitcoin: Hacked and Now Testing a Critical 200-Day EMA Support - Alchemy Markets<\/title>\n<meta name=\"description\" content=\"Bitcoin tests its 200-day EMA at $76.4k after a $6.3B Binance hack. 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