{"id":142530,"title":"Bitcoin falls below $77,000 amid cryptocurrency sell-off","publisher":"Share Talk","author":"sharetalk","published":"2026-11-03T08:35:01+00:00","modified":"2026-11-03T08:35:01+00:00","canonical_url":"https://www.share-talk.com/bitcoin-falls-below-77000-amid-cryptocurrency-sell-off/","markdown_url":"https://www.share-talk.com/bitcoin-falls-below-77000-amid-cryptocurrency-sell-off.md","json_url":"https://www.share-talk.com/bitcoin-falls-below-77000-amid-cryptocurrency-sell-off.json","category":"Blogs","categories":["Blogs","e-commerce","Fintech","Technology","Technology, Media & Telecoms"],"tags":["Binance","Bitcoin","BTC","Bybit hack","cryptocurrency exchange","Ether","Ethereum","North Korean","North Korean hackers.","TraderTraitor","TRM Labs"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2026/11/077fe8e4-6eac-4719-8dc1-4217ac75ad92.png?fit=1727%2C911&quality=80&ssl=1","format":"news","language":"en-GB","content":"**Bitcoin slipped below $77,000 on Tuesday as cryptocurrency markets remained under pressure following the record $6.3 billion Binance hack, another wave of leveraged liquidations and significant withdrawals from US Bitcoin exchange-traded funds.**\n\nThe world’s largest cryptocurrency was trading around **$76,746, down almost 2% over 24 hours**, as investors continued assessing the consequences of the cyberattack and wider uncertainty across risk assets.\n\n**Ethereum traded near $2,250**, while Binance’s BNB token weakened towards $700. XRP remained relatively stable, although Solana experienced sharper losses as selling pressure extended across the digital asset market.\n\nInvestor sentiment remained subdued following the **29 October attack on Binance, which resulted in approximately $6.3 billion in cryptocurrency being stolen**, making it the largest reported cryptocurrency theft on record.\n\n**The FBI has attributed the attack to North Korea’s TraderTraitor hacking group**, adding to concerns about the growing sophistication of state-linked cybercriminal operations targeting major digital asset platforms.\n\nBinance has since resumed customer withdrawals and says it has **replaced or covered approximately 95% of the stolen assets**, although investigators continue working to trace and recover funds.\n\nThe reopening triggered substantial customer activity, with **approximately $4.65 billion withdrawn during the initial period**, compared with deposits of around $1.01 billion.\n\nThe figures indicate considerable pressure on customer confidence, although withdrawals alone do not establish that the exchange is facing a liquidity crisis.\n\nBlockchain investigators believe billions of dollars in stolen cryptocurrency remain under the attackers’ control, distributed across hundreds of wallets.\n\n**The security incident has also been accompanied by significant leveraged trading losses**, adding further pressure to cryptocurrency prices.\n\nAround **$298 million in cryptocurrency positions were liquidated over a 12-hour period**, including approximately **$271 million in long positions**.\n\nBitcoin accounted for roughly **$68 million of the liquidations**, while Ethereum represented more than $40 million.\n\nThe concentration of losses among traders betting on rising prices suggests that attempts to position for a market recovery were disrupted by renewed selling.\n\nForced liquidations can intensify short-term volatility as leveraged positions are automatically closed when prices move against traders.\n\n**Institutional investment flows have also weakened, with US spot Bitcoin exchange-traded funds recording approximately $643 million in net outflows on Friday.**\n\nThe withdrawals represented their **largest daily outflow since June**, reversing several days of earlier investment inflows and adding to concerns about demand for cryptocurrency exposure.\n\nEthereum has also struggled to regain momentum, remaining **more than 16% lower over the past month**, despite comparatively smaller movements during the latest trading session.\n\n**Security concerns have widened following reports of a separate breach at Brazilian cryptocurrency exchange Mercado Bitcoin.**\n\nThe platform reportedly suspended deposits and withdrawals after **more than $40 million in digital assets was drained from wallets across multiple blockchains**.\n\nThe additional incident has reinforced investor concerns about the security of cryptocurrency custody arrangements and the potential consequences of further exchange compromises.\n\n**Bitcoin’s immediate price direction is now attracting particular attention around the $76,000 to $77,000 region**, which traders are monitoring as a potential support area.\n\nA sustained move below this range could encourage further selling, particularly if additional leveraged positions are forced to close.\n\nConversely, **a recovery towards $78,000 to $80,000** could indicate that selling pressure is easing, although these technical levels do not guarantee a change in market direction.\n\n**For investors, the combination of exchange security concerns, institutional fund withdrawals and leveraged liquidations has created a challenging environment for cryptocurrencies.**\n\nWhile Binance has committed substantial financial resources to protecting affected customers, the longer-term implications for exchange security, regulatory oversight and investor confidence remain uncertain.\n\n**Attention will now turn to Bitcoin’s ability to stabilise around $76,000, developments in the Binance investigation and the direction of institutional ETF flows**, as cryptocurrency markets seek to recover from one of the most significant security incidents in the industry’s history."}