Bitcoin Slides Below $79,000 as Binance Hack Triggers ~$1.5B in Liquidations

News · Published 30 October 2026 · Investory Tools

After reports of the Binance breach, Bitcoin dropped to around $78,000–78,800 (and briefly near $76,500, a multi-week low), while roughly $1.5 billion in leveraged positions were liquidated. Ether and BNB fell harder. Analysts caution the hack may not be the only driver.

The market reaction

Bitcoin fell roughly 2% to 4% on October 29–30, 2026 as reports of a major Binance breach spread. Coverage put the price near $78,400–$78,800, and one outlet reported a dip to about $76,470 — its lowest level in roughly six weeks. Exact figures vary by source and timestamp.

$1.5 billion in liquidations

The drop hit leveraged traders hard. Roughly $1.5 billion in positions were liquidated, including an estimated $1.3 billion in long positions, according to reporting. Forced selling of this kind can accelerate a decline as liquidations cascade.

Spillover across crypto

The weakness was not limited to Bitcoin. Ether fell more than 3% and BNB dropped more than 8%, while crypto-linked equities such as Coinbase and Strategy also declined. Some of the selling was tied to concerns that Binance's deposit and withdrawal restrictions could strain liquidity across other exchanges.

A more nuanced picture

Despite the sell-off, US spot Bitcoin ETFs still recorded net inflows — about $17 million on October 29, extending a positive streak. Analysts also noted the decline cannot be pinned entirely on the hack, as markets were already volatile. As always, leverage magnifies both gains and losses; this episode is a textbook example of liquidation risk.

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This article summarizes publicly reported news for general information only and is not financial advice. Figures were still being confirmed at the time of writing; see the linked sources for the latest details.