Bitcoin falls below $77,000 after Binance hack, can $80,000 return?

Bitcoin has slipped below $77,000 during an Oct. 30 sell-off following Binance’s estimated $6.3 billion security breach, leaving traders watching whether buyers can defend support and recover $80,000. Summary • Bitcoin’s descending channel puts the $76,200–$76,800 support zone in focus after the exchange breach. • Blockaid traced at least $3.5 billion leaving Binance wallets across four blockchains within an hour. • Nansen identified stolen stablecoins being used as collateral to borrow ETH through Aave. • Experts say withdrawal access, reserve verification and trading liquidity will help determine whether contagion develops. Binance market data placed Bitcoin at $76,944 shortly after midnight UTC, before a recovery toward $78,000 later in the session. The exchange’s breach has drawn attention to both the money stolen and the pressure that could follow if customers, lenders and market makers withdraw funds. In a subsequent update reported by Reuters, Binance said it had set aside more than $6.34 billion in company funds, including $5 billion held in affected token assets. Partners had frozen approximately $3 billion, separately from those reserves. Bitcoin buyers face a descending ...