BLOOMBERG · 2026-10-30 03:49 UTC

Bitcoin Drops on Binance Hack as Stock Selloff Also Weighs

Bitcoin fell below $77,000 after Binance disclosed a hack, dropping 3.1% in early Asia trading Friday on top of a 3% US session decline. Broader market pressure from macro concerns, AI spending worries, and weak tech earnings (Amazon, Intel) also weighed on cryptocurrencies and equities. Binance estimated the hack's total impact at $6.3 billion; $1.3 billion in bullish crypto positions were liquidated in 24 hours as $11 billion in options expire Friday on Deribit.

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