Bitcoin Falls Near $78,000 as Binance Hack Rumors Circulate

Bitcoin (BTC) briefly fell near $78,000 and Ether (ETH) dropped below $2,250 on Oct. 29 as crypto markets sold off amid unverified speculation about a possible Binance security breach. Bitcoin slid from around $80,800, while Ether reached about $2,243. By 5:15 p.m. ET (21:15 UTC), futures liquidations across crypto markets totaled at least $659 million, including about $571 million in long positions and $88 million in short positions. Long positions made up roughly 87% of the liquidation total, putting leveraged bullish bets at the center of the forced closures. The selloff and liquidations unfolded together, adding pressure as prices fell.