Bitcoin price rebounds after Binance hack, but can it reclaim $80K?

Bitcoin price has recovered to around $78,000 following last week's sell-off triggered by the record $6.3 billion Binance hack, although technical indicators suggest the cryptocurrency is still struggling to regain bullish momentum. Bitcoin recovered to around $78,000 after falling to a recent low near $76,173 following the October 29 Binance hack, but it remains below its earlier trading range. Bitcoin continues to trade below its 20 day and 50 day exponential moving averages near $80,200, while the daily RSI at 38.97 suggests sellers still have the upper hand. The four hour MACD has registered a bullish crossover with a positive histogram, suggesting buying momentum is improving even though both MACD lines remain below zero.

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