price since Sept. 18 after Binance, the largest crypto exchange, fell victim to a $6.3 billion exploit attributed to North Korean hackers.
The largest cryptocurrency slumped to an overnight low of $76,400 before recovering some of the decline. Ether
ETH
$2,234.73
momentarily hit $2,170 before rebounding to around $2,220.
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Around $3 billion of the proceeds have been frozen, with withdrawals currently paused on the exchange. Analytics firms TRM Labs and Elliptic attributed the hack to North Korea-linked hackers.
Tech stocks added to the downward pressure, with Nasdaq-100 index futures falling 2.3% after Amazon
$237.95
raised its capital spending forecast. Intel (INTC) slid around 25% on weak guidance.
U.S. spot bitcoin ETFs took in $17 million on Thursday, a fourth straight day of inflows, according to Farside investors, before the theft began.
Derivatives Positioning
Liquidation spike: Liquidations in crypto futures jumped fourfold to $1.57 billion after the Binance hack hit prices. Trading volume rose 74% to $346.1 billion, while open interest (OI) fell 3% to $136.3 billion, a sign that traders closed positions and money exited futures. The taker buy-sell volume ratio showed a mild tilt to selling after an even split yesterday.
BTC steady, ETH exits: BTC fell 3.1% over 24 hours while open interest fell only 1.4%, so a small amount of money came in during the drop. ETH fell 4% while its open interest fell 5.8%, so a small amount of money left. BTC funding is positive and has increased, which means longs are paying shorts and perp traders are still tilted long. ETH funding is positive but has decreased, so that tilt is fading. BTC and ETH made up more than half of all liquidations, at $522 million and $361 million.
Money leaves SOL and NEAR: SOL’s open interest fell 13.3% against a 3.3% price drop, so money left SOL futures. NEAR was little changed, but its open interest fell 11.8%, its second straight day of exits. Funding has flipped from positive to negative in both, so shorts are now paying longs, and cumulative volume delta (CVD) is negative in both, which means market sell orders dominated.
BNB OI steady: BNB fell 6.2%, the biggest drop among the major coins even as open interest held flat in dollar terms. Volume more than tripled. Funding is negative, meaning shorts are paying longs, and CVD is negative, meaning market sell orders dominated.
HYPE defies the selloff: HYPE rose 15% and open interest jumped 28%, so money came in as the rest of the market fell. Volume surged almost eightfold. Funding is positive and has increased, so longs are paying more to hold positions. CVD is positive, which means market buy orders dominated.
Mixed trends in funding rates: Most coins still have positive funding, which means longs are paying shorts. Still, the group with negative funding has grown and now includes BNB, SOL, NEAR and TRX, so shorts pay longs in those contracts. TRX was the most negative overnight. Monero (XMR) has the most positive funding, followed by HYPE.
CVD sinks: Except for TRX, HYPE, ZEC, XMR and BCH, all major coins have negative 24-hour OI-adjusted cumulative volume delta. That means market sell orders outweighed market buy orders relative to open interest across most of the market.
Defensive options flow: Five of the six highest-volume BTC options are puts, all below the current price. The $74,000 put expiring Nov. 13 leads. In ETH the skew toward puts is even stronger. The $2,000 put expiring Nov. 13 has more than twice the volume of any other ETH option, and only one of the top six is a call.
Put bias strengthens: The 25-delta skew, which measures how much more puts cost than calls, has risen across all time frames in both BTC and ETH, so protection is in demand. The 30-day implied volatility indices spiked in Asia as the Binance hack spurred demand for puts, but the gains have been partly erased.
Token talk
Tokens the Binance hacker was holding and selling led the rebound, with ethena (ENA) gaining 8.4%, pepe
PEPE
$0.0₅5042
rising 7.3%, uniswap (UNI) adding 4.6% and chainlink
LINK
$11.16
climbing 3.7%. Uniswap and aave had tumbled around 11% on Thursday as the attacker swapped holdings for ether, according to Lookonchain.
Aave
AAVE
$125.63
and arbitrum
ARB
$0.1625
rose around 4.5%, with Aave freezing its lending markets across 16 networks after the exploiter borrowed around $44.6 million of ether against stolen USDT.
Thorchain (RUNE) gained 6.2%, with Elliptic and onchain analyst ZachXBT tracing part of the stolen funds into Ethereum through the cross-chain protocol.
ZRO
$1.7043
jumped 12%, the biggest gain among the CoinDesk 100, while curve
CRV
$0.2851
fell 7.2% and tron
TRX
$0.3338
dropped 4.9%.
CoinMarketCap’s Altcoin Season index fell to 45/100 from 54 on Thursday, and its Fear and Greed index slipped to 36/100, in “fear,” from 43.
Crypto Markets Today
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Latest Crypto News
1
Binance uncovers wider breach in $6.3 billion exploit, targets Sunday withdrawal restart
1 hour ago
2
Wall Street analysts urge investors to buy crypto stocks after $6.3 billion Binance hack
4 hours ago
3
Binance arranges $6.34 billion to cover losses from record crypto hack
6 hours ago
4
Here's how big bitcoin traders responded after the Binance hack hit
6 hours ago
5
Here’s how an Ethereum upgrade helped drain part of Binance’s $6 billion loss
6 hours ago
6
Strategy CFO Andrew Kang resigns as company posts record operating profit
8 hours ago
7
Live updates: Bitcoin falls below $77,000 as Binance exploit combines with tech woes
9 hours ago
8
Binance hacker dumps a little-known 2017 token and it crashes 90%
10 hours ago
9
Bitcoin, ether and XRP selloff wipes out $1.5 billion in leveraged crypto bets
12 hours ago
10
XRP Ledger developers tighten the rules for who can hold 'restricted' tokens
12 hours ago
Latest Research
An Issuer’s Guide to Tokenized Equities Image
The Future of Equity Ownership: An Issuer's Guide to Tokenized Equities
By CoinDesk Research
Sep 29, 2026
Commissioned byBullish
Tokenized equities are coming with or without issuers. Issuer-sponsored models make the token the share itself, preserving control and full rights.
Why it matters:
Tokenized equities are coming with or without issuers. Issuer-sponsored models make the token the share itself, preserving control and full rights.
View Full Report
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(Michael M. Santiago/Getty Images)
Wall Street analysts urge investors to buy crypto stocks after $6.3 billion Binance hack
Strategy Executive Chairman Michael Saylor standing. (Nikhilesh De/CoinDesk))
Strategy CFO Andrew Kang resigns as company posts record operating profit
Live updates: Bitcoin falls below $77,000 as Binance exploit combines with tech woes
Live updates: Bitcoin falls below $77,000 as Binance exploit combines with tech woes
More From Bitcoin
Richard Teng, CEO, Binance. (CoinDesk/Personae Digital)
Binance uncovers wider breach in $6.3 billion exploit, targets Sunday withdrawal restart
(Michael M. Santiago/Getty Images)
Wall Street analysts urge investors to buy crypto stocks after $6.3 billion Binance hack
Richard
price since Sept. 18 after Binance, the largest crypto exchange, fell victim to a $6.3 billion exploit attributed to North Korean hackers.
The largest cryptocurrency slumped to an overnight low of $76,400 before recovering some of the decline. Ether
ETH
$2,234.73
momentarily hit $2,170 before rebounding to around $2,220.
Get market analysis for crypto traders and investors. Subscribe to our newsletter
Around $3 billion of the proceeds have been frozen, with withdrawals currently paused on the exchange. Analytics firms TRM Labs and Elliptic attributed the hack to North Korea-linked hackers.
Tech stocks added to the downward pressure, with Nasdaq-100 index futures falling 2.3% after Amazon
$237.95
raised its capital spending forecast. Intel (INTC) slid around 25% on weak guidance.
U.S. spot bitcoin ETFs took in $17 million on Thursday, a fourth straight day of inflows, according to Farside investors, before the theft began.
Derivatives Positioning
Liquidation spike: Liquidations in crypto futures jumped fourfold to $1.57 billion after the Binance hack hit prices. Trading volume rose 74% to $346.1 billion, while open interest (OI) fell 3% to $136.3 billion, a sign that traders closed positions and money exited futures. The taker buy-sell volume ratio showed a mild tilt to selling after an even split yesterday.
BTC steady, ETH exits: BTC fell 3.1% over 24 hours while open interest fell only 1.4%, so a small amount of money came in during the drop. ETH fell 4% while its open interest fell 5.8%, so a small amount of money left. BTC funding is positive and has increased, which means longs are paying shorts and perp traders are still tilted long. ETH funding is positive but has decreased, so that tilt is fading. BTC and ETH made up more than half of all liquidations, at $522 million and $361 million.
Money leaves SOL and NEAR: SOL’s open interest fell 13.3% against a 3.3% price drop, so money left SOL futures. NEAR was little changed, but its open interest fell 11.8%, its second straight day of exits. Funding has flipped from positive to negative in both, so shorts are now paying longs, and cumulative volume delta (CVD) is negative in both, which means market sell orders dominated.
BNB OI steady: BNB fell 6.2%, the biggest drop among the major coins even as open interest held flat in dollar terms. Volume more than tripled. Funding is negative, meaning shorts are paying longs, and CVD is negative, meaning market sell orders dominated.
HYPE defies the selloff: HYPE rose 15% and open interest jumped 28%, so money came in as the rest of the market fell. Volume surged almost eightfold. Funding is positive and has increased, so longs are paying more to hold positions. CVD is positive, which means market buy orders dominated.
Mixed trends in funding rates: Most coins still have positive funding, which means longs are paying shorts. Still, the group with negative funding has grown and now includes BNB, SOL, NEAR and TRX, so shorts pay longs in those contracts. TRX was the most negative overnight. Monero (XMR) has the most positive funding, followed by HYPE.
CVD sinks: Except for TRX, HYPE, ZEC, XMR and BCH, all major coins have negative 24-hour OI-adjusted cumulative volume delta. That means market sell orders outweighed market buy orders relative to open interest across most of the market.
Defensive options flow: Five of the six highest-volume BTC options are puts, all below the current price. The $74,000 put expiring Nov. 13 leads. In ETH the skew toward puts is even stronger. The $2,000 put expiring Nov. 13 has more than twice the volume of any other ETH option, and only one of the top six is a call.
Put bias strengthens: The 25-delta skew, which measures how much more puts cost than calls, has risen across all time frames in both BTC and ETH, so protection is in demand. The 30-day implied volatility indices spiked in Asia as the Binance hack spurred demand for puts, but the gains have been partly erased.
Token talk
Tokens the Binance hacker was holding and selling led the rebound, with ethena (ENA) gaining 8.4%, pepe
PEPE
$0.0₅5042
rising 7.3%, uniswap (UNI) adding 4.6% and chainlink
LINK
$11.16
climbing 3.7%. Uniswap and aave had tumbled around 11% on Thursday as the attacker swapped holdings for ether, according to Lookonchain.
Aave
AAVE
$125.63
and arbitrum
ARB
$0.1625
rose around 4.5%, with Aave freezing its lending markets across 16 networks after the exploiter borrowed around $44.6 million of ether against stolen USDT.
Thorchain (RUNE) gained 6.2%, with Elliptic and onchain analyst ZachXBT tracing part of the stolen funds into Ethereum through the cross-chain protocol.
ZRO
$1.7043
jumped 12%, the biggest gain among the CoinDesk 100, while curve
CRV
$0.2851
fell 7.2% and tron
TRX
$0.3338
dropped 4.9%.
CoinMarketCap’s Altcoin Season index fell to 45/100 from 54 on Thursday, and its Fear and Greed index slipped to 36/100, in “fear,” from 43.
Crypto Markets Today
Related Assets
Related Stocks
Amazon.Com Inc
$237.95
-2.49%
Latest Crypto News
1
Binance uncovers wider breach in $6.3 billion exploit, targets Sunday withdrawal restart
1 hour ago
2
Wall Street analysts urge investors to buy crypto stocks after $6.3 billion Binance hack
4 hours ago
3
Binance arranges $6.34 billion to cover losses from record crypto hack
6 hours ago
4
Here's how big bitcoin traders responded after the Binance hack hit
6 hours ago
5
Here’s how an Ethereum upgrade helped drain part of Binance’s $6 billion loss
6 hours ago
6
Strategy CFO Andrew Kang resigns as company posts record operating profit
8 hours ago
7
Live updates: Bitcoin falls below $77,000 as Binance exploit combines with tech woes
9 hours ago
8
Binance hacker dumps a little-known 2017 token and it crashes 90%
10 hours ago
9
Bitcoin, ether and XRP selloff wipes out $1.5 billion in leveraged crypto bets
12 hours ago
10
XRP Ledger developers tighten the rules for who can hold 'restricted' tokens
12 hours ago
Latest Research
An Issuer’s Guide to Tokenized Equities Image
The Future of Equity Ownership: An Issuer's Guide to Tokenized Equities
By CoinDesk Research
Sep 29, 2026
Commissioned byBullish
Tokenized equities are coming with or without issuers. Issuer-sponsored models make the token the share itself, preserving control and full rights.
Why it matters:
Tokenized equities are coming with or without issuers. Issuer-sponsored models make the token the share itself, preserving control and full rights.
View Full Report
More From Markets
(Michael M. Santiago/Getty Images)
Wall Street analysts urge investors to buy crypto stocks after $6.3 billion Binance hack
Strategy Executive Chairman Michael Saylor standing. (Nikhilesh De/CoinDesk))
Strategy CFO Andrew Kang resigns as company posts record operating profit
Live updates: Bitcoin falls below $77,000 as Binance exploit combines with tech woes
Live updates: Bitcoin falls below $77,000 as Binance exploit combines with tech woes
More From Bitcoin
Richard Teng, CEO, Binance. (CoinDesk/Personae Digital)
Binance uncovers wider breach in $6.3 billion exploit, targets Sunday withdrawal restart
(Michael M. Santiago/Getty Images)
Wall Street analysts urge investors to buy crypto stocks after $6.3 billion Binance hack
Richard
Teng, CEO, Binance. (CoinDesk/Personae Digital)
Binance arranges $6.34 billion to cover losses from record crypto hackTeng, CEO, Binance. (CoinDesk/Personae Digital)
Binance arranges $6.34 billion to cover losses from record crypto hack