Bitcoin tumbled to $76,350, its first visit to that level since Sept. 18, after Binance confirmed it had become the latest victim of a major hack. The incident, described as by far the biggest hack in the crypto industry, triggered a broad selloff across digital assets.
Binance confirmed the hack earlier in the day. Other reports cited by the source said well over $6 billion had been drained from the platform.
Bitcoin had challenged the $82,000 resistance level a day before the latest FOMC meeting concluded. A rejection pushed the asset toward $80,500 before the sharp move down to $76,350. It later rebounded and was trading at just over $78,000.
Altcoins retreat, with a few exceptions
Ethereum fell 3% on the day and was struggling below $2,250. BNB slumped more than 4% to $715, while XRP traded at $1.250.
Some altcoins bucked the trend. The two largest privacy tokens, ZEC and XMR, were in the green. HYPE, among Binance’s largest competitors, jumped more than 17% after positive U.S. developments reported a day earlier.
Liquidations top $1.5 billion
The total value of liquidated positions rose to $1.52 billion over 24 hours, with $1.36 billion coming after the Binance hack. Longs accounted for the largest share of the wrecked positions.
- Bitcoin liquidations totaled $482 million.
- Ethereum liquidations reached $365 million.
- Nearly 240,000 traders were wiped out in the past day.
- The largest single order was on Binance and was worth more than $11 million.
