A series of massive sell orders totaling $41.69 million have caused BTC to fall below $78,000, and now it's broken through $76,472. What will the bulls do?

Bitcoin suddenly plummeted, with large sell orders appearing one after another! On October 30th, BTC fell to a low of $76,472, a pullback of approximately $8,404 from its previous high of $84,876. The price briefly dipped below $78,000, indicating significant short-term pressure on bulls. According to AiCoin's large transaction monitoring, there were two rounds of concentrated active selling in Binance's BTC spot market this morning. The first round occurred between 04:40 and 04:58. In just 17 minutes, nine large sell orders totaled $18.76 million, with an average selling price of $79,290. The second round was even more intense. From 07:45 to 08:04, 11 large sell orders appeared within 18 minutes, with a total transaction volume of $22.93 million and an average selling price of $78,090. The two rounds totaled 20 transactions, amounting to $41.69 million, with the average transaction price of the sell orders gradually decreasing. BTC subsequently touched a low of $76,472, and at the time of the screenshot, the price was approximately $77,522, still failing to recover the area where the second round of sell orders were concentrated. ETH was not spared either, falling to a low of $2,172.85, with both major cryptocurrencies under pressure. The most critical price right now is $76,472. If BTC falls below this low again, short sellers may continue to dominate, while traders holding long positions need to be wary of increased volatility; if the price stabilizes and rebounds, the area around $78,090 will be a crucial level to test whether buying can regain the initiative. $41.69 million in sell orders have been executed, yet BTC remains below $78,000. Will buying pressure emerge to absorb the selling pressure, or will $76,472 be breached again? Risk Warning: The views, conclusions, and suggestions in this article are for reference only and do not constitute investment advice. Investing involves risks; please invest cautiously.