Bitcoin slips 1.3% to about $77,100 as a major exchange hack weighs on mood

The market today

Bitcoin traded near $77,100, down 1.3% in 24 hours and 4.3% over seven days. Ethereum was flat at about $2,237 (+0.2%), though it is still down 5.7% on the week.

The total crypto market value slipped 0.9% to $2.62 trillion. Bitcoin's share of that total is 59.1%.

The Fear & Greed Index stayed at 30, which counts as Fear, the same reading as yesterday. Breadth was healthy under the surface: 65 of the top 100 coins rose and 35 fell, so the dip was narrow rather than a broad sell-off.

Biggest movers

Beam led the top 200 with a 54% jump to about $0.0053. Its gaming sector rose 6.1%, but Beam beat that by a wide margin, so the move was largely its own. Optimism gained 18%, EigenCloud and Convex Finance each added about 12%, and Pendle rose 9%.

On the downside, Akedo fell 39% and is down 67% on the week. Bitway dropped 19% and Collector Crypt lost 11%. TRON, a top-10 coin, fell 6.4% to its lowest price in 30 days. None of these losers moved in step with Bitcoin.

What drove it

The main story was the reported $6.3 billion hack at Binance. Coverage focused on how the attackers tried to move funds before they could be frozen, and on whether freezing assets will work. A US regulator also said the case shows why offshore exchanges need US oversight. Some Wall Street firms are pointing investors toward Bitcoin-linked stocks as a way to avoid exchange risk.

Outside crypto, tech stocks were shaky. Intel had its worst drop in decades after a weak forecast, and Reddit fell 30%. Reports that OpenAI trimmed its fundraising targets added to AI worries.

Still, several sectors rose, led by Oracle tokens (+7.2%) and gaming (+6.1%). Layer 2 tokens gained 3.1%.