BTC breaks $75K, ETH liquidations, and a whale withdrawal
Bitcoin broke below $75K, wicking to the bull market support band and liquidating ETH longs, while a dormant wallet pulled $73.75M of ETH from Binance.
What we know
Daan Crypto says the break of $75K ended 2+ days of sideways action and flushed ETH longs. An account on X flagged a wallet withdrawing 34,601 ETH ($73.75M) from Binance after 2 years of inactivity. Another account on X argues the market still prices tight money, a BTC headwind, while another account on X urges calm.
How the story developed
Bitcoin broke below $75K, wicking to the bull market support band and liquidating ETH longs, while a dormant wallet pulled $73.75M of ETH from Binance.
Crypto sentiment is poor across sources, with an 'onchain bloodbath,' Bitcoin on track for a second red year, and an unverified rumor of a Binance CFO resignation tied to a bitcoin hack.
BTC is in its largest drawdown since the $58K–$87K rally. Hedge funds cut leverage sharply and leveraged ETFs added forced selling on Nov 5.
Lookonchain says MARA sent 1,650 BTC (~$132.8M) to exchanges and custodians, while Binance plans to restore withdrawals for more assets from Nov 5.
Compiled with AI by the Global Eye 24 desk from public posts across 4 of our monitored source feeds, and updated each hour while the story develops. Spot an error? Write to corrections@globaleye24.com.