Bitcoin plunges to six-week low as Gold hits one-year low below $3,950 | FXStreet

Binance confirmed a $6.3B hack, the largest in crypto history, causing Bitcoin (BTC) to drop to a six-week low of $76,400. The Fed held interest rates steady, but the hack drove BTC down 5.1% to $77,380. Other cryptocurrencies like ETH and SOL also fell. Ripple received final approval for a national trust bank, and other crypto news included warnings from Trezor and Polymarket.

iShares Bitcoin Trust ETF (IBIT) fell 4.4% after Binance disclosed a $6.3B hack, causing Bitcoin to drop to $76,301. Crypto-linked equities like MicroStrategy and Robinhood also declined. Binance froze $3B in affected assets. The Nasdaq fell 2.7% as Intel (INTC) dropped 30% on weak PC market and manufacturing hurdles. Lower Treasury yields did not support Bitcoin, indicating the hack and Nasdaq selloff drove the decline.

Bitcoin (BTC) faces uncertainty after a Binance hack and $1.5B in liquidations, according to XS.com's Simon-Peter Massabni. The breach may impact market liquidity and confidence, with $75,000 identified as a key support level. Binance has frozen $3B in assets and pledged to cover losses.

Binance suffered a $6.3B crypto theft, the largest in history, with Bitcoin dropping to $76,400. The hack, attributed to North Korean hackers, drained hot wallets in minutes. Binance assured users' funds are safe and will cover losses. Bitcoin later recovered above $77,000, with stablecoin issuers freezing $3B of stolen funds.

About $6.36 billion was transferred from Binance wallets in a major crypto theft, with TRM Labs tracking transfers across ten blockchains. Binance and other firms froze $2.7 billion in stablecoins, but billions in other cryptocurrencies remain missing. Binance's investigation suggests a compromised DevOps engineer's laptop may have been involved, and the exchange will cover losses. TRM Labs attributes the attack to a North Korean-linked hacking unit, though Binance has not confirmed this.

A hacker holds 18,270 BTC ($1.42B) and 488,364 ETH ($1.09B) from a Binance breach, exceeding weekly Bitcoin ETF inflows of $440.7M. Trader Route 2 FI sees potential selling pressure but remains optimistic, while Binance is buying stolen assets to cover losses. Bitcoin's price is near $77,300, with key levels at $76,500 and $80,000.