TLDR
- Crypto liquidations reached $397.74 million in 24 hours, with 91,383 traders hit and longs making up 76.8%.
- Binance lost about $6.3 billion in a hot wallet hack, and about $3 billion has been frozen.
- Bitcoin traded near $77,000, about 38.8% below its record high.
- Spot Bitcoin ETFs saw $643.33 million in net outflows on Friday.
- Intel fell about 25% and Nasdaq-100 futures dropped 2.3% after Amazon raised its spending forecast.
Crypto liquidations reached $397.74 million over the past 24 hours as Bitcoin traded near $77,000 on Saturday. The selling follows a $6.3 billion hack at Binance, the world’s largest crypto exchange by trading volume.
CoinGlass data shows 91,383 traders were liquidated. Long positions made up 76.8% of the total, or $305.30 million, while shorts accounted for $92.43 million.
Bitcoin saw the largest share, with about $141.69 million in liquidations. About 70.4% of that came from long positions.
Ether followed with $31.45 million, and 60.3% of it was longs. Gold-linked contracts saw $28.94 million in liquidations.
Binance handled 50.5% of all liquidations. The largest single order was $11.43 million on the exchange’s Bitcoin-Tether pair.
How the Binance Hack Unfolded
Binance said its hot wallets were compromised around 20:05 UTC on October 29. The exchange lost about $6.3 billion in token assets.
Its early investigation points to a compromised laptop belonging to a DevOps engineer. The attacker used that access to reach a service container and submit unauthorized withdrawals.
Binance said it found no evidence that wallet private keys leaked. About $3 billion of the affected assets has been frozen on-chain.
TRM Labs and Elliptic attributed the attack to North Korea-linked hackers. Binance said it will cover user losses through its Secure Asset Fund for Users and corporate funds.
Withdrawals remain paused, while deposits and other unaffected services keep running.
Stocks and ETFs Add Pressure
Tech stocks added to the selling. Nasdaq-100 futures fell 2.3% after Amazon raised its capital spending forecast.
Intel dropped about 25% on weak guidance.
U.S. spot Bitcoin ETFs recorded $643.33 million in net outflows on Friday, according to SoSoValue. That ended four straight days of inflows.
BlackRock’s iShares Bitcoin Trust lost $233.70 million, and Fidelity’s Wise Origin Bitcoin Fund lost $201.04 million.
Bitcoin traded at $77,177, down 4.3% over seven days. It is about 38.8% below its record high of $126,080, set in October 2025.
Liquidations have slowed from Friday, when they hit $1.57 billion and about 242,000 traders were liquidated.
Traders are watching Bitcoin’s 24-hour low near $76,300. ETF flows on Monday, November 2, will show whether redemptions continue, and updates from Binance on resuming withdrawals are also expected.
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