30.10.202604:32:01UTC+00Bitcoin Drops on Binance Security Breach

Bitcoin dropped to about $76,000 on Friday, its lowest level since mid-September, after news of a major security breach at Binance, the world’s largest cryptocurrency exchange, intensified selling. Binance estimated the incident’s total financial impact at roughly $6.3 billion, noting that about $3 billion in compromised assets have been frozen on-chain in coordination with blockchain partners. Other major digital assets, including Ether, Solana, and XRP, also declined.

Risk sentiment was further pressured by broader market aversion, driven by worries over escalating AI-related spending and disappointing technology earnings. Roughly $1.3 billion in bullish crypto positions were liquidated in the past 24 hours, ahead of an $11 billion options expiry on Deribit. Despite the turbulence, US-listed spot Bitcoin ETFs saw net inflows of $423.7 million from Monday through Wednesday, signaling a revival in institutional interest.