Bitcoin and ether came under pressure after a reported $6.3 billion hack involving Binance, sending forced closures in crypto futures markets sharply higher. Bitcoin traded near $77,350 as total liquidations rose to $1.57 billion, according to CoinDesk.
What happened in the crypto market
The reported incident affected market sentiment around two of the largest cryptocurrencies by market presence. Bitcoin moved lower toward $77,350, while ether also declined, according to the source material. The event was linked to a $6.3 billion hack involving Binance, one of the crypto platforms named in the report.
Liquidations occur when exchanges forcibly close leveraged futures positions because traders no longer have enough collateral to support them. A sharp increase in liquidations can show that a rapid price move has affected traders using borrowed exposure, although the liquidation figure itself does not indicate whether positions were long or short.
Why the $1.57 billion figure matters
Crypto futures liquidations reached $1.57 billion following the market move. The figure captures positions that were closed automatically across futures markets, rather than ordinary spot-market selling alone. It therefore highlights the effect of leverage during the decline and the speed at which losses were realized by affected futures traders.
The reported hack and the subsequent moves connected activity at a major crypto exchange with wider pressure in digital-asset markets. Bitcoin and ether were specifically identified as lower in the source report, while the liquidation total shows that the market reaction extended beyond individual spot transactions.
Moneyiar market picture
Moneyiar data at October 25, 2026, 22:39 +03:30 showed Bitcoin at $80,430.506808014, down 0.08% over 24 hours and 1.32% over seven days. Ethereum stood at $2,342.0570017305, up 0.02% over 24 hours and down 1.77% over seven days.
BNB was $740.8618136891, with a 0.81% 24-hour gain and a 3.32% seven-day gain. NEAR Protocol was $4.6166906773, up 3.36% over 24 hours but down 6.21% over seven days. These market figures were recorded before the reported event described above.
