Bitcoin▼ Bearish● Important

Bitcoin Dips Under $79,000 After Reported Binance Hack and Stablecoin Freezes

TradingGain Newsroom·3h ago·29 Oct 2026, 23:06 UTC

Bitcoin fell below $79,000 after reports of a suspected hack at Binance, with outflows of up to $5.8 billion. Tether and Circle reportedly froze about $1.8 to $2.4 billion in stablecoins in response. Traders may watch for security fallout and selling pressure, since the event is tied to a major exchange and to stablecoin liquidity.

BTCAt the time of writing, Bitcoin traded at $78,830 (-3.02% in 24h).Live price →

Why it matters

Reports point to a suspected Binance hack with outflows of up to $5.8 billion.
Tether and Circle reportedly froze roughly $1.8 to $2.4 billion in stablecoins.
Bitcoin's drop below $79,000 shows the news is already weighing on prices.

What to watch next

Watch whether bitcoin can hold above $79,000 and for any official updates on the suspected Binance hack and the stablecoin freezes.

BTCLive chartOpen full chart →

This brief is written by TradingGain from public reporting by Bitcoin Magazine.Read original ↗

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TradingGain News summarises public reports in our own words and always links to the original source. Market Data stories are generated automatically from public exchange data. Nothing on this page is financial advice; always do your own research and use a stop-loss.