Bitcoin slipped below the $77,000 level on October 29, 2026, while BNB, the native token of the Binance exchange, also declined as reports of a security breach at Binance spread across crypto markets. The simultaneous moves unsettled sentiment across the broader digital-asset space, with traders closely watching how Binance would respond to the reported incident.

Bitcoin Crosses Below $77,000 as Markets Turn Lower

Bitcoin's move beneath $77,000 marked a notable downside threshold for the leading cryptocurrency, extending a stretch of weakness that has drawn attention from traders tracking key support levels. The decline came as broader market sentiment soured, with multiple major assets trading lower in tandem.

Bitcoin has tested critical support zones repeatedly in recent weeks. The asset had already come under pressure when it fell 3.7% to test the $81,500 ETF cost basis — a level watched as the average purchase price of spot Bitcoin ETF holders — and a further slide below $77,000 represents a continuation of that bearish trajectory. Earlier bouts of selling had also pushed Bitcoin to test $80,000 support amid $550 million in crypto liquidations, suggesting the current level sits within an area traders have been monitoring closely.

The drop below $77,000 was not isolated to Bitcoin. When large-cap assets weaken in concert, it typically signals broad risk-off behavior rather than coin-specific selling pressure, though the Binance news added an exchange-specific layer to the day's moves.

BNB Declines Amid Reports of a Binance Hack

BNB fell alongside Bitcoin, with reports of a security incident at Binance acting as an additional source of pressure on the token. Reporting from The Block linked the day's price moves to the Binance hack narrative, though full details of the incident, including the scope of any funds affected, had not been independently verified at the time of writing.

BNB is directly tied to Binance's ecosystem — holders have long used the token for trading-fee discounts on the exchange, and it also serves as the gas asset for transactions on the BNB Chain blockchain — so any credible security report affecting the exchange carries outsized weight for the token's price. Exchange hacks have historically triggered immediate sell pressure on associated tokens as users assess withdrawal risks and platform stability, though market reactions can reverse quickly once official statements clarify the situation.

As of this writing, Binance had not published a verified public statement detailing the nature or scale of the reported breach. Readers should follow official Binance channels for confirmed updates before drawing conclusions about the incident's severity.

What the Sell-Off Means for Traders and Market Confidence

A simultaneous decline in Bitcoin and BNB, set against a backdrop of exchange-security reports, creates a particularly unsettled environment for short-term traders. Bitcoin's $77,000 level has drawn attention as a potential dividing line between continued selling and a stabilization attempt, though the outcome depends heavily on whether the Binance situation escalates or is quickly contained.

Exchange security events have historically produced sharp but short-lived volatility when exchanges respond quickly and transparently. Prolonged uncertainty, by contrast, tends to deepen drawdowns. For context, broader market stress earlier this cycle pushed ETH below $2,500 as crypto liquidations reached $759 million, illustrating how rapidly leverage can amplify sell-offs when confidence fractures.

Bitcoin's price trajectory also carries implications beyond day traders. Longer-term outlooks, including questions about whether Bitcoin can reach $100,000 by year-end, become harder to sustain when the asset loses ground at the $77,000 level with a major exchange under scrutiny. Bulls point to structural demand from institutional holders as a floor, while bears note that exchange-related fear can accelerate withdrawals and depress prices faster than fundamental buyers can absorb supply.

Market conditions remain fluid. As new information about the reported Binance incident emerges, price moves in both Bitcoin and BNB could reverse or deepen. Signals worth watching include any official statement from Binance, changes in withdrawal activity on the platform, and whether Bitcoin holds or reclaims the $77,000 level in upcoming sessions. Traders and holders should prioritize verified information from official sources over unconfirmed reports circulating on social media.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.