Woke up to red charts again ...Here's a quick look at where crypto stands after the Binance security incident.
What happened
Binance says the incident had an estimated impact of $6.3 billion. Around $3 billion has already been frozen, and Binance has promised to cover all user losses.
How the market reacted
• $BTC dipped to around $76,400, its lowest level since mid-September
• About $1.5 billion in futures positions got liquidated, mostly longs
• $BNB fell more than most large coins
Prices as I write this
• $BTC : $77,145 (-1.7% in 24h)
• $ETH : $2,238 (-0.3%)
• $BNB : $701 (-2.3%)
• $SOL : $95.94 (-1.8%)
My take
What caught my eye is that spot Bitcoin ETFs still saw inflows for the 4th day in a row, even while the price dropped. Ether ETFs went the other way with around $105M in outflows. Bitcoin is down roughly 8% this October, so it could close a second red October in a row.
I'm staying patient and keeping leverage low until things settle. Moves like this usually hurt overleveraged traders the most.
Are you buying this dip or waiting on the sidelines? Let me know below 👇
Not financial advice. Always DYOR.
#Bitcoin #CryptoNews #BinanceSquare #Write2Earn
What happened
Binance says the incident had an estimated impact of $6.3 billion. Around $3 billion has already been frozen, and Binance has promised to cover all user losses.
How the market reacted
• $BTC dipped to around $76,400, its lowest level since mid-September
• About $1.5 billion in futures positions got liquidated, mostly longs
• $BNB fell more than most large coins
Prices as I write this
• $BTC : $77,145 (-1.7% in 24h)
• $ETH : $2,238 (-0.3%)
• $BNB : $701 (-2.3%)
• $SOL : $95.94 (-1.8%)
My take
What caught my eye is that spot Bitcoin ETFs still saw inflows for the 4th day in a row, even while the price dropped. Ether ETFs went the other way with around $105M in outflows. Bitcoin is down roughly 8% this October, so it could close a second red October in a row.
I'm staying patient and keeping leverage low until things settle. Moves like this usually hurt overleveraged traders the most.
Are you buying this dip or waiting on the sidelines? Let me know below 👇
Not financial advice. Always DYOR.
#Bitcoin #CryptoNews #BinanceSquare #Write2Earn