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Bitcoin (BTC) again slipped below USD 80K as the Binance hack steers sentiment.
Hyperliquid surges 17.9%, while BNB, Ethereum and XRP lead the losses.
Support near USD 76,400 and resistance near USD 78,400 stay in focus.
Bitcoin traded near USD 78,483 on October 30 as a suspected Binance hack keeps traders on edge. The largest cryptocurrency lost 2.0% in 24 hours after touching a six-week low.
Hyperliquid jumped 17.9% against the tide, while BNB fell 4.0%. Binance froze USD 3 billion in assets as the fallout spread across exchanges and altcoins.
Bitcoin traded at USD 78,482.53, down 2.0% in the past 24 hours, according to CoinGecko. Its market capitalization stands near USD 1.58 trillion, while 24-hour volume reached USD 51.59 billion. The price sits 4.4% lower over seven days.
Prateek Gupta, Head of Business at Mudrex, said hotter inflation weighed on risk assets. September PCE rose to 3.6%, while third-quarter US GDP grew 3.4%. December hike odds sit near 80%. Alphabet's 12% drop hit tech stocks. Bitcoin needs USD 80,000 to regain momentum.
CoinSwitch Markets Desk said Bitcoin slipped after the Fed held rates at 3.75% to 4%. US spot Bitcoin ETFs drew about USD 424 million over three sessions, yet buying struggled to lift prices. Reclaiming USD 80,000 to USD 81,000 matters for recovery.
Vikram Subburaj, CEO of Giottus.com, said Bitcoin hit a six-week low of USD 77,646. A reported Binance security incident drove the selling. ETF inflows could not offset security worries. Support sits near USD 76,600, while resistance lies near USD 78,100.
Nischal Shetty, Founder of WazirX, said Bitcoin traded near USD 76,402 after a 4.42% fall. It tests support between USD 76,100 and USD 76,400. The next support zone sits at USD 73,100 to USD 73,500. Reclaiming USD 77,700 to USD 78,400 would improve participation.
Also Read: Bitcoin Core Fixes 3 AI-Discovered Security Flaws Affecting Windows and Mac
Source: CoinGecko, prices as of today's session.
Hyperliquid led the gainers with 17.9%, followed by TRON at 4.9% and Zcash at 3.1%. BNB led the losers at 4.0%, while Ethereum fell 2.9% and XRP slipped 2.8%. Stablecoins and Figure Heloc held steady.
Binance said a security incident affected about USD 6.3 billion in assets, with roughly USD 3 billion frozen on-chain. The exchange paused deposits and withdrawals during security checks. It promised to cover all losses through its SAFU fund and company reserves.
Binance said a compromised engineer’s laptop may have enabled unauthorized withdrawals. BNB dropped 4.0% as traders questioned exchange security. Binance.US confirmed it was not affected, and an updated proof of reserves is planned.
Tether froze more than USD 1.567 billion in USDT tied to the suspected hack. Circle froze over USD 800 million in USDC and coordinated with law enforcement. First Digital also froze stolen FDUSD. Together, the freezes exceed USD 2.3 billion.
Frozen tokens limit how fast the attacker can convert stolen assets into cash. CoinDesk reports the attacker split about USD 1.4 billion of bitcoin across 19 wallets that nobody can freeze. Tether said protecting the industry was its priority.
Total liquidations reached USD 1.5 billion in 24 hours, and long positions bore most of the losses. Bitcoin accounted for USD 468 million, while Ethereum followed at USD 358 million. CoinGlass data shows USD 628 million vanished in one hour late Thursday.
Analysts said spot Bitcoin bid and ask spreads widened to five times normal earlier today. The Fear and Greed Index reads 37, which points to fear. Hyperliquid shorts also took damage as HYPE climbed against the market.
ICE, the owner of the NYSE, partnered with Trade.xyz to bring Hyperliquid-powered perpetual futures to US traders. The launch still needs regulatory approval. HYPE gained 17.9% to USD 93.07. Stanley Druckenmiller also backed the venture through a USD 23 million indirect investment.
Hyperliquid has burned nearly 50 million HYPE through fee buybacks. Lifetime protocol revenue now exceeds USD 1.38 billion. HYPE is the only top twelve coin with a double-digit gain, and traders see decentralized venues gaining share.
Standard Chartered's Geoffrey Kendrick expects more near-term pain for crypto prices. He said a new base needs frozen assets released and clearer hack details. Coinbase slid 4.8% and Strategy fell nearly 6% in extended trading.
Kendrick expects investors to rotate toward decentralized exchanges once prices stabilize. He pointed to Uniswap, which has never suffered an exploit. Polymarket also suspended international trading after hackers drained over USD 2.6 million from user accounts.
Bitcoin traded near USD 78,483, with support near USD 76,400 and a recovery barrier near USD 78,400. A slide below USD 76,100 could open the path toward USD 73,100. Investors should favor staggered entries, modest sizing and low leverage.
Also Read: CFTC Chair Mike Selig Weighs AI and Crypto Trading Oversight
What is the Bitcoin price today?
Bitcoin traded at USD 78,482.53, down 2.0% over 24 hours, per CoinGecko. Market capitalization stands near USD 1.58 trillion, while 24-hour volume reached USD 51.59 billion, keeping liquidity firm.
Why is Bitcoin falling today?
A suspected USD 6.3 billion Binance hack triggered fresh selling and USD 1.5 billion in liquidations. Hot inflation and a tech selloff added pressure, while December Fed hike odds stayed elevated.
Which coins moved the most today?
Hyperliquid jumped 17.9%, TRON gained 4.9% and Zcash rose 3.1% among the top twelve coins. BNB fell 4.0%, Ethereum dropped 2.9% and XRP slipped 2.8%, while stablecoins held steady.
What should investors watch today?
Watch Bitcoin support near USD 76,400 and the recovery barrier near USD 78,400. Binance withdrawal updates, frozen asset releases and Fed hike odds will drive volatility, so keep leverage low.
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