[Wintermute: BTC Needs to Hold 50-Week Moving Average at $76,800] According to a market report from market maker Wintermute on November 3rd, after Bitcoin fell below $80,000, the market remained weak following the liquidations triggered by the Binance incident. The 50-week moving average at approximately $76,800 is the next level that needs to be held. Wintermute stated that the buying after the drop mainly came from leveraged perpetual contracts, lacking spot demand and new funding support. If Bitcoin recovers and holds above $80,000, and the buying comes from spot and ETF funds, the institution will cease its short-term caution; if it falls below the 50-week moving average, it will further shift to a bearish stance.