Bitcoin Falls Below $77,000 as Binance Hack Triggers $1.5B in Liquidations
Author: Crypffalo Research · 17:55 30/10/2026
Bitcoin briefly slid to around $76,400 as the $6.3 billion Binance hack and a tech-stock selloff wiped out about $1.5 billion in leveraged positions, mostly longs.
Bitcoin dropped below $77,000 early on Oct 30, briefly touching the $76,400–$76,700 area. The move put BTC at its weakest level in more than a week as markets kept digesting the roughly $6.3 billion hack at Binance.
About $1.54 billion in leveraged positions were liquidated over 24 hours, hitting roughly 239,000 traders, according to CoinGlass data. By around 10:00 UTC, BTC had recovered to roughly $77,500–$78,000, still down about 2–3% on the day.
Key takeaways
- Price: BTC hit a 24-hour low near $76,443 versus a high of $81,840, and now trades around $77,500.
- Liquidations: about $1.54 billion in 24 hours, with longs accounting for roughly $1.30 billion (close to 84%).
- Binance: the exchange says it has found additional points of breach beyond a compromised engineer's laptop.
- Withdrawals: per CoinDesk, Binance expects to resume withdrawals in about 45 hours.
- Macro: a sharp selloff in US tech stocks after Intel and Amazon earnings added to the pressure on crypto.
Price action and liquidations
The slide began late on Oct 29 when Binance hot wallets showed unusual outflows. Bitcoin drifted down from the $81,000–$82,000 range and broke below $77,000 in early Asian hours on Oct 30.
Long positions took the brunt of the flush, suggesting many traders had positioned for a rebound after strong US GDP data on Oct 29. The largest single liquidation was a BTC/USDT position worth about $11.09 million on Binance itself.
Altcoins fell harder than bitcoin. ETH slipped to around $2,190–$2,240, down roughly 3–5% depending on the snapshot. BNB was hit directly, at one point falling about 7% to near $699 according to The National, before bouncing toward $710.
Binance widens its investigation
In an update on Oct 30, Binance said its investigation had "uncovered additional points of breach," beyond the DevOps engineer's laptop flagged initially. The exchange said it has found no evidence that private keys were leaked.
- About $3 billion in assets has been frozen, including more than $2.3 billion in stablecoins, with help from Tether, Circle and law enforcement.
- Withdrawals remain suspended; CoinDesk cited a Binance update saying the exchange is on track to restore the service in about 45 hours.
- Co-CEO Yi He said Binance will cover all user losses through its SAFU fund and company resources.
- TRM Labs linked the attack with high confidence to North Korea's TraderTraitor group; authorities have not formally confirmed attribution.
Pressure from equities
Crypto was not selling off alone. The Nasdaq 100-tracking QQQ fell more than 2% as AI-spending worries resurfaced, with Intel down about 25% after hours on weak fourth-quarter guidance.
Rates are not helping either. The Fed held its target range at 3.75%–4% on Oct 28, but two officials dissented in favor of a hike, keeping risk appetite in check.
What it means for crypto markets
Geoffrey Kendrick, global head of digital assets research at Standard Chartered, said the negative price action likely "has some way to go." In his view, markets will only find a new base once frozen assets are released and more details of the hack emerge.
- Bull case: if Binance reopens withdrawals on schedule, confirms full reimbursement and more funds get frozen, sentiment could stabilize. Analysts are watching $80,200 (the 9-day EMA) and $81,400 (a weekly level flagged by Rekt Capital) as levels to reclaim.
- Risk case: new breach findings or the hacker dumping unfreezable assets could send BTC back to test $76,300, with the 200-day moving average near $73,000 cited by Ali Martinez as the next area below.
Another near-term factor is roughly $10.8–11 billion in bitcoin options expiring on Deribit at 08:00 UTC on Oct 30, with $78,000 a notable positioning level. Large expiries like this often coincide with sharper swings.
What to watch next
- When Binance reopens withdrawals and publishes post-incident reserve data.
- Movements in the hacker's wallets and any further freezes.
- Price reaction after the options expiry and into the US session on Oct 30.
- Spot bitcoin ETF flows for Oct 30; see our economic calendar and real-time liquidations.
Frequently Asked Questions
Why did bitcoin fall below $77,000?
The roughly $6.3 billion Binance hack hurt sentiment, and a selloff in US tech stocks added pressure. Heavy long liquidations accelerated the decline.
Are Binance users' funds safe?
Binance says it will cover all losses through its SAFU fund and company resources. Withdrawals are paused and expected to resume in about 45 hours, per an update cited by CoinDesk.
Which price levels are traders watching?
Analysts cite $80,200–$81,400 overhead and $76,300 and $73,000 below. These are technical reference points, not trading signals.
*This content is for information only and is not financial advice.*
Tags: Bitcoin, Binance, Liquidations, Hack
Related articles
- Trump says US looking into Binance hack as CFTC chair pushes offshore oversight
- Binance targets Nov 1 withdrawal restart after finding more breach points in $6.3B hack
- Crypto stocks slide: Coinbase drops 12%, Strategy 11% as Binance hack weighs
- Binance sets aside $6.34 billion in corporate funds to cover hack losses
- Binance confirms $6.3 billion hack as analysts point to North Korea's Lazarus
- Binance Halts Withdrawals on Several Networks After Suspected Hack; CZ Expects Full Cover