BLOOMBERG · 2026-11-02 05:38 UTC

Bitcoin's Resilience After Binance Hack Masks Market Jitters

Bitcoin rose 1% Monday to $78,300, down 4% from Thursday's pre-hack high, after Binance disclosed a $6.3 billion cyber theft. Bitcoin's resilience contrasts with the 2022 FTX collapse, attributed to Binance's swift promise to cover all losses and the company buying Bitcoin to make users whole. Traders show underlying unease with growing demand for downside protection; the FBI linked both Binance and Bybit breaches to North Korean hacking group TraderTraitor.

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