Bitcoin rebounds, but order book points to choppy month-end

Bitcoin recovered to about $78,475 on Friday, Oct. 30, after falling to roughly $76,500. Order-book data showed $7.95 million in bids near $78,195.90, compared with about $7.12 million in sell orders around $78,810.10. Bitcoin remained below resistance at $79,250 ahead of October’s close.

The order book showed a 52:48 split between bids and asks, giving buyers a narrow advantage. Additional bid clusters appeared near $77,579 and below $77,000. These orders could absorb some selling if they remain in place and are executed, but traders can cancel or move them. The data therefore reflects potential demand rather than confirmed buying.

Bitcoin moved above the marked 12-hour low of $77,910 but stayed below $79,250. A break above $79,250 would place the marked 12-hour high of $81,971 in focus. A decline below the daily support reference at $77,179 could expose lower bid zones.

A reported security breach at Binance on Oct. 29 added to market uncertainty. The incident affected an estimated $6.3 billion in assets, while about $3 billion was later frozen on-chain. Concerns about liquidity and wider spreads accompanied the selloff.

U.S. inflation data provided another factor for traders. Annual personal consumption expenditures inflation rose to 3.6% in September from 3.4% in August. Core PCE inflation was 3.1%.

CryptoQuant estimated on Oct. 23 that $11.1 billion in Bitcoin options on Deribit were scheduled to expire at 08:00 UTC on Oct. 30. The firm estimated the maximum-pain level at $78,000. That estimate was published seven days before expiry and did not determine the final settlement price.

Bitcoin’s ability to hold above the nearby support levels remained in focus before the monthly close on Saturday, Oct. 31.