Bitcoin Trades Below Its Daily Averages After The Selloff

Bitcoin (BTC) traded at $77,202.75 at 08:49:26 UTC on 31st October 2026. On TradingView's Coinbase BTC/USD spot feed, the daily price remained below both its 20 and 50 day simple moving averages, which smooth prices over those periods.

The observation uses the daily timeframe. Saturday's candle began at 00:00 UTC and was still forming. Its $77,488.58 high and $76,954.57 low are the session's extremes up to the observation time, rather than a completed day's range. The latest price sat between them.

The daily and four-hour charts were captured at 13:20:58 and 13:20:44 UTC respectively on 31st October. Their open candles show a later snapshot than the 08:49:26 UTC observation used for the levels in this analysis.

The Daily Averages Remain Overhead

The 20 day average stood at $80,982.19 and the 50 day average at $81,888.03. The shorter average was below the longer one, while price was below both. Bored Node reads that combination as a weak daily configuration. A recovery within Saturday's early range would leave that configuration intact.

Reaching those averages from the observed price would require gains of approximately 4.90% and 6.07%, respectively. These are distances to the observed averages, rather than projected returns. Both averages include the forming daily observation and can change before the session closes.

The First Recovery And Breakdown Tests

For the bullish case, the first test is a daily close above the observed $77,488.58 high, followed by a subsequent session that holds above it. That would clear Saturday's early ceiling. A later daily close back below the reclaimed $77,488.58 reference would invalidate this initial breakout case. It would still leave the 20 day average near $80,982 as the next higher reference, followed by the 50 day average near $81,888.

A daily close above the 20 day average, followed by a successful retest, would strengthen the recovery assessment. A later daily close back below that reclaimed average would invalidate that stage of the recovery case. A brief intraday move through it would not meet the closing test.

The bearish alternative is a daily close below the observed $76,954.57 low, followed by failure to regain it in the next session. That would break the lower edge of the range recorded here. A subsequent daily close back above that reference would invalidate the initial breakdown case. Neither outcome has been confirmed by the unfinished candle.

The Earlier Outlook And Incident Context

Bored Node's earlier November outlook used a 29th October snapshot and a recovery test near $81,900. The current 50 day average remains close to that area, but the price in this later observation is substantially lower.

In its 30th October incident update, Binance dated its hot wallet compromise to about 20:05 UTC on 29th October. It estimated losses at about $6.3 billion and said it would cover stolen funds. Those company statements provide incident context; the chart does not establish how much of Bitcoin's price movement the incident caused.