Bitcoin steadied above $76,000 after a reported $6.3 billion hack at Binance intensified selling across cryptocurrency markets and coincided with a sharp retreat in US technology stocks. The sell-off pushed more than $1.5 billion worth of crypto positions into liquidation over 24 hours, while technical indicators began to show signs that downward momentum could be weakening.
According to Cointelegraph, Bitcoin fell as low as $76,320 before recovering to trade above $77,000 on Friday. The move came as traders assessed both the security incident involving Binance, described by the exchange as “complex,” and a broader deterioration in market sentiment following disappointing or cautious technology-sector updates.
Binance hack deepens pressure on crypto markets
TradingView data showed the decline in BTC/USD as the market reacted to news of the Binance attack. Binance is the largest cryptocurrency exchange, and developments affecting the platform can have an immediate effect on confidence across digital-asset markets.
CoinGlass data put total rolling 24-hour crypto liquidations at $1.56 billion. Long positions, which are trades positioned for prices to rise, represented $1.31 billion of that amount. Liquidations occur when an exchange closes leveraged positions after market movements leave traders unable to maintain the required collateral. Because many of the affected positions were long, the figures indicate that the sharp fall caught a large number of bullish traders on the wrong side of the market.
Binance said in an update on X that the incident involved more than one security breach and called the attack “complex.” The exchange added that it was still collecting information and would provide further details. It also said that user losses would be covered through its dedicated Secure Asset Fund for Users, known as SAFU, together with other company resources.
That commitment helped the downside momentum cool after the initial decline, although the market remained under pressure. The reported size of the incident and the resulting liquidations made the hack a significant event for crypto traders beyond Binance itself.
Technology-stock losses add to investor jitters
The crypto sell-off unfolded alongside weakness in US technology shares. Stock markets fell on Thursday after technology companies issued earnings information and fourth-quarter projections that disappointed investors.
Alphabet missed earnings and revenue targets on Wednesday. Its shares fell 13% to $282, their lowest level since April, according to the source material. Intel then came under pressure before Friday’s opening bell, with its shares down 26% in premarket trading.
Intel’s third-quarter revenue and earnings exceeded estimates, but its outlook for the fourth quarter was weaker than analysts had expected. The company forecast sales of $15 billion to $16 billion, compared with analyst expectations of $17 billion to $18 billion.
The simultaneous pressure on technology shares and cryptocurrencies added to uncertainty across risk-sensitive markets. The source material does not establish that the stock-market declines caused the Bitcoin move, but it identifies the equity weakness as an additional source of pressure while traders were already processing the Binance hack.
Bitcoin indicators point to a possible rebound
Although Bitcoin remained below recent levels, several short-term measures suggested that selling pressure might be losing strength. On Thursday, Bitcoin closed below the lower band of its Bollinger Bands indicator, a level it had not reached since June 25. Bollinger Bands measure price movement around a moving average; in this case, the lower band represented a level more than two standard deviations below Bitcoin’s 20-day simple moving average.
The 20-day moving average stood at $81,324. A close below the lower band does not provide a buy or sell signal, but it can indicate that the price has moved unusually far below its recent average and that a move back toward the average may become possible.
Bitcoin’s relative strength index, or RSI, fell to 34.7 on Friday. The RSI is a momentum gauge measured on a scale from zero to 100. A reading below 30 is commonly described as oversold, so the latest figure was approaching that threshold and was the lowest since June 30.
On the four-hour chart, the RSI formed a bullish divergence: the indicator recorded a higher swing low while Bitcoin’s price made a lower low. Such a pattern can indicate that sellers are losing control and that a short-term change in direction may be developing. However, the source material describes this only as a possible local trend change, not a confirmed recovery.
Moneyiar market picture
Moneyiar market data recorded Bitcoin at $80,430.51, down 0.08% over 24 hours and 1.32% over seven days, as of October 25, 2026, at 22:39 +03:30. BNB stood at $740.86, up 0.81% over 24 hours and 3.32% over seven days at the same time.
Meteora was priced at $0.2988, down 3.49% in 24 hours and 9.69% over seven days, according to Moneyiar data as of October 25, 2026, at 22:38 +03:30. Billions Network stood at $0.0140, down 0.59% over 24 hours but up 10.04% over seven days, based on Moneyiar data as of September 21, 2026, at 01:39 +03:30.
