Double-Digit Altcoin Losses Mount as BTC Shows Weakness at $76K: Weekend Watch

There are a few exceptions since this time last week, including BTW and TRX. Bitcoin’s price weakness is quite telling as the asset is just hours away from closing in the red for the fifth consecutive week. Looking at the altcoin weekly scale is also a painful view, with HYPE, NEAR, BCH, and XLM leading the pack in terms of double-digit losses. XRP, LINK, and ADA are not far behind. BTC Weak Below $76K October ended with the most severe hack against a crypto company in terms of USD losses, with bad actors siphoning $6.3 billion from Binance. Bitcoin’s reaction was immediate as the asset tumbled from roughly $81,000 to $76,000 in an hour or so. The subsequent rebound attempt wasn’t very successful, as BTC was stopped at $79,000. It entered US mid-term election day on Tuesday from another area of weakness, struggling at $78,000. The Democratic sweep didn’t really help, and the cryptocurrency plunged to a then-seven-week low of $75,800. On Wednesday afternoon, though, the entire landscape changed when BTC, alongside Wall Street, skyrocketed to local peaks, with bitcoin touching $81,000. This massive leg up was followed by an even more profound leg down. A day later, bitcoin erased all...