Bitcoin Under Pressure as Binance Security Breach Triggers Sell-Off

Bitcoin has weakened, falling to around US$76,000—its lowest level since mid-September. Pressure intensified following reports of a major security incident at Binance, which weighed on sentiment across the crypto market and prompted investors to reduce their risk exposure.

This pressure has spread to other crypto assets, including Ether, Solana, and XRP. A "risk-off" sentiment has strengthened, fueled by concerns regarding the scale of AI investments and disappointing financial results from major technology companies, which have further pressured global markets.

Over the past 24 hours, approximately US$1.3 billion in bullish crypto positions have been liquidated, adding to the selling pressure ahead of the expiration of options contracts worth roughly US$11 billion on the Deribit exchange. These conditions highlight the high levels of volatility and leverage currently present in the crypto market.

Nevertheless, positive signals remain from institutional investors. US-listed spot Bitcoin ETFs recorded a net inflow of approximately US$423.7 million between Monday and Wednesday. These inflows suggest that some investors still view price dips as an opportunity to accumulate more Bitcoin.

Newsmaker Analysis: Bitcoin is currently facing pressure from a combination of security concerns, liquidations, and a broader global risk-off environment. However, ETF inflows indicate that institutional demand has not entirely vanished. The next move for BTC will depend on its ability to hold the US$76,000 level and whether the selling pressure begins to subside. (srh)

Source: Newsmaker.id