Is Bitcoin’s drop related to the Binance heist? Yes, but that’s not all.
A lot of people think it’s just the hack, but there’s more to the story:
1. The hack was the trigger
On October 29, US$6.3 BILLION was stolen from Binance. It was the biggest heist in crypto history. The market immediately panicked, and $BTC fell to $76k.
2. Binance has already covered the losses
On November 12, Binance confirmed it had replaced all the assets. And the US DOJ has already managed to freeze more than US$1.2 billion of the stolen money.
So the Binance issue has been partly resolved...
3. So why does it keep falling?
Because everything hit at once:
US$1.44 billion flowed out of ETFs in 5 days
US$1.4 billion liquidated in 24h — leveraged traders getting stopped out left and right
US CPI at 4% + the Fed might raise rates again
Nvidia plunging and dragging down the risk market
The dollar at its highest level since April 2025
The hack lit the fuse. The macro environment poured gasoline on it.
BTC below $70k for the first time since August, extreme fear in the market...
So, are you buying the dip, waiting for more, or just watching from the sidelines? 👇
#Bitcoin #BTC #Binance #Crypto #MercadoCripto
A lot of people think it’s just the hack, but there’s more to the story:
1. The hack was the trigger
On October 29, US$6.3 BILLION was stolen from Binance. It was the biggest heist in crypto history. The market immediately panicked, and $BTC fell to $76k.
2. Binance has already covered the losses
On November 12, Binance confirmed it had replaced all the assets. And the US DOJ has already managed to freeze more than US$1.2 billion of the stolen money.
So the Binance issue has been partly resolved...
3. So why does it keep falling?
Because everything hit at once:
US$1.44 billion flowed out of ETFs in 5 days
US$1.4 billion liquidated in 24h — leveraged traders getting stopped out left and right
US CPI at 4% + the Fed might raise rates again
Nvidia plunging and dragging down the risk market
The dollar at its highest level since April 2025
The hack lit the fuse. The macro environment poured gasoline on it.
BTC below $70k for the first time since August, extreme fear in the market...
So, are you buying the dip, waiting for more, or just watching from the sidelines? 👇
#Bitcoin #BTC #Binance #Crypto #MercadoCripto
