Bitcoin slips 2.3% to about $76,800 as Binance hack fallout weighs on sentiment
Bitcoin fell 2.3% to about $76,800 and 82 of the top 100 coins lost ground. Fear is rising after a reported Binance hack, and the Fear & Greed Index dropped to 26.
The market today
Bitcoin traded near $76,800, down 2.3% in 24 hours and 4.1% over the week. Ethereum fell 2.5% to about $2,250. The total crypto market cap slipped 2.1% to $2.60 trillion, and Bitcoin's share of that total sits at 59.3%.
The selling was broad. Of the top 100 coins, 82 ended lower and only 18 rose. The Fear & Greed Index, which scores market mood from 0 to 100, dropped to 26 from 37 yesterday. That moves it deeper into the "Fear" zone.
Among the large coins, Solana lost 3.6%, Cardano 2.7% and Dogecoin 2.7%. XRP held up better at down 0.8%.
Biggest movers
Zcash lost 11% to about $1,137, and the wider privacy-coin group fell 6.1%. NEAR Protocol dropped 11% to $3.83, with AI-related tokens down 6.1% as a group. Hyperliquid's HYPE fell 6.1%.
Beam was the weakest name in the top 200, down 19.4% after a 26% gain over the past week. Bitway fell 13.6% and sits at a 30-day low. Plasma lost 12.1%.
On the upside, Rain rose 11.9% and Pieverse gained 9.8%, reaching its highest price this week. THORChain climbed 9.2%, though it remains near a 30-day low. TRON gained 2.4%. The Real World Assets sector jumped 55%, led in part by Collector Crypt, up 8.5%.
What drove it
The main weight on sentiment looks like the news around Binance. Reports say the exchange suffered a very large hack, put at $6.3 billion. Binance has begun a second phase of withdrawals, and the flow of coins leaving the exchange has slowed. South Korean authorities have urged exchanges to strengthen their cold storage, the offline wallets that hold most customer funds. North Korea has denied any role in the incident.
A separate item adds to the nervous tone: investigators flagged a suspected $106 million theft and a $786,000 drain of a Solana trading bot. THORChain halting swaps after a software bug may explain some of its sharp swings.
The data does not tie every coin's move to one cause. Many of the biggest losers fell far more than Bitcoin did.
- Leverage and derivatives
- Whale and exchange flows
Liquidations, funding, open interest and whale flows behind today's move, every morning in the Blockdeck app.
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