Bitcoin (BTC) Marks Six-Week Low After Binance Hack Estimated at $6.3B

Six-Week Low Under $77,000

Bitcoin (BTC) price fell under $77,000 on Friday for the first time in about six weeks, printing an overnight low near $76,368 before the tape steadied. Live monitoring puts the largest proof of work asset back at $77,581, up 0.1% from the last published reading, though the coin is still down 4.6% across the past 24 hours. The break was flagged shortly after 14:00 UTC, when the quote stood near $77,182, a loss of about 2.1% on the session. Ethereum (ETH) slipped under $2,200 in the same window, and major altcoin markets sold in tandem, a breadth that reads as a retreat in overall risk appetite rather than an exit from a single asset. The $80,000 line that had defined the range for the previous six weeks gave way in one session. What turned a routine pullback into a six-week low was the pairing of spot selling with pressure on leveraged positions, which pushed liquidations higher as the level broke. A six-week low also resets the near-term map: levels that organized trade inside the $80,000-plus range lose their standing until the market reclaims them, and Friday's $76,368 print becomes the reference that leveraged books set stops against. Into the weekend, thinner liquidity magnifies both directions, so whether buyers defend the low matters for leveraged positions and altcoin volatility alike; a failed defense would leave the old range floor empty beneath the market.

A $6.3 Billion Hot Wallet Breach

Behind the slide sits the breach of a Binance hot wallet, an incident whose impact initial official estimates put at about $6.3 billion. A hot wallet keeps signing keys online for day-to-day withdrawals, which is why its compromise matters more for exchange operations than for the reserve base. Derivatives data shows roughly $1.57 billion in positions liquidated as the news worked through the market, with spot books and leveraged books offloading at the same time. A market alert feed operated under the DeItaone handle flagged the loss of $80,000 in a post timed about 22:10 in Taipei, or 14:10 UTC, citing the quote near $77,182 and the slide toward the six-week low. Trade Nation analyst David Morrison read the technical damage bluntly: the coin has lost the $80,000 support that held for six weeks, the next significant floor is $75,000, and a break there opens a retest of the summer lows. Second-order effects keep moving through venues and protocols. Aave's V3 and V4 markets, frozen in connection with the Binance case, have reopened, though nine assets, USDT, USDC, USDT0, POL, WAVAX, sAVAX, XAUT, PAXG and OP, keep a loan-to-value ratio of zero as new collateral for the time being; existing users were able to withdraw and repay throughout the freeze. A Binance spokesperson said customer funds are fully safe, and the exchange's October reserve disclosure lists 14 hot wallet addresses, with the assets taken in the related outflows counted among those backing customer balances. Attention now rests on two operational clocks: the schedule for reimbursing affected users and the timeline for restoring full withdrawal service. A slower restoration keeps redemption pressure alive and gives standing sellers a reason to hold offers in place.

@DeItaone · X post

Flagged the loss of $80,000.

View on X

$75,112 Support, $81,205 Resistance

The strongest support on the composite support and resistance scoring sits at $75,112, marked 93 out of 100, close to the $75,000 floor named in the analyst commentary, while the nearest strong resistance is $81,205 with a score of 76, well overhead after the break. Momentum readings agree with the downtrend: the relative strength index prints 32.82, the MACD signal is bearish, and the Fear and Greed Index sits at 30, in fear territory. Positioning has not cleared as far as price has: funding is still marginally positive at 0.0071% and the long/short account ratio stands at 2.94, so 74.6% of accounts remain long, a breadth of smaller accounts rather than the weight of any single crypto whale. That crowded long side cuts against the contrarian calls from earlier this week, when James Check argued that Bitcoin volatility at 25.2% is the bull case. For accounts that HODL through drawdowns, the map is a reclaim of $81,205 against a loss of $75,112. The last word belongs to the exchange's own operations, though: payout progress and the restoration of withdrawals at Binance are what the sellers on the other side of this market are watching.