Bitcoin’s 39% price drop deepens as spot ETFs shed $643 million

A 39% Bitcoin price drop from its record high left the cryptocurrency trading near $77,170 early on October 31, 2026, as a Binance security breach rattled markets and US spot Bitcoin ETFs recorded heavy withdrawals. The retreat from roughly $126,000, reached in October 2025, deepened as fund redemptions and forced selling added pressure.

Key takeaways

• US spot Bitcoin ETFs lost $643.33 million on October 30.
• TRM Labs tracked approximately 18,270 BTC stolen in the Binance breach.
• Leveraged crypto liquidations reached $1.53 billion during the decline.
• Binance targets November 1 for a phased withdrawal restart, subject to security checks.

Bitcoin price drop follows Binance security breach

The Binance breach shook market confidence as Bitcoin struggled to recover above $77,000. TRM Labs reported that attackers moved approximately 18,270 BTC, valued at $1.47 billion, and identified unauthorized transfers on other blockchains.

Binance put the incident’s estimated overall impact at $6.3 billion in an October 30 statement and said around $3 billion in crypto assets had been frozen.

The exchange’s preliminary investigation pointed to a possible compromise of a DevOps engineer’s laptop. Binance said the attacker then gained access to a service container and submitted unauthorized withdrawal transactions.

ETF withdrawals end four sessions of inflows

US spot Bitcoin ETFs registered approximately $643.33 million in net outflows on October 30, according to SoSoValue data. The withdrawals reversed four consecutive sessions of inflows following the Binance breach.

BlackRock’s IBIT recorded about $233.7 million in redemptions, while Fidelity’s FBTC lost $201 million. The reversal marked a shift away from the net buying recorded over the previous four sessions.

ETF outflows compounded the Bitcoin price drop alongside forced selling in leveraged markets. Across cryptocurrency positions, liquidations totaled $1.53 billion during the decline, putting both fund flows and derivatives under pressure.

Bitcoin tests support between $76,000 and $77,000

Bitcoin tested the $76,000–$77,000 support range, briefly touching $76,300 before recovering toward $77,000. Its early October 31 price of roughly $77,170 still sat below the $78,000–$78,500 zone.

The technical levels above that zone include $80,000, which previously served as support, and resistance between $82,000 and $83,000, where earlier rebounds stalled.

The retreat also coincided with a sharp Nasdaq selloff linked to investor concerns about the profitability of major technology companies’ artificial intelligence investments. That risk aversion added pressure to cryptocurrency markets already unsettled by the breach and ETF redemptions.

Binance prepares a phased withdrawal restart

Binance plans to begin restoring withdrawals in stages on November 1, subject to security verification tests. The planned restart follows work on its withdrawal service and related address controls.

Binance co-founder Yi He said deposits remained unaffected and continued operating normally. The exchange’s October 30 update set an expected window of 48 hours to begin resuming withdrawal services.

Article produced with the assistance of artificial intelligence and reviewed by the editorial team.