Bitcoin Price Falls Below $80K After $6.3B Binance Hack

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure TLDR Bitcoin price dropped roughly 2% to around $78,420 as the market reacted to Binance’s $6.3 billion security breach. Crypto liquidations reached $1.54 billion over 24 hours, with long positions accounting for approximately $1.3 billion. Binance said about $3 billion in affected assets had been frozen and pledged to cover losses through its SAFU fund and company resources. US spot Bitcoin ETFs attracted fresh inflows, while $80,188 emerged as an immediate resistance level for BTC. Bitcoin Price Slides as Leveraged Positions Unwind Bitcoin price remained below $80,000 on October 30 as traders responded to the Binance breach and a wave of forced position closures. At the attached report’s market snapshot, BTC traded near $78,420, down roughly 2% over 24 hours. The cryptocurrency had briefly slipped below $77,000 before recovering some ground. CoinGlass figures cited in the report showed approximately 239,000 traders liquidated during that period. Total liquidations reached $1.54 billion, including around $1.3 billion in long positions. The imbalance shows that traders betting on hig...