Crypto Market Today, Oct. 30: Bitcoin Tests Key Support as Binance Hack and Tech Sell-Off Rattle Markets

Bitcoin slid 1.18% to $76,870 as a reported $6.3 billion Binance hack, described as the largest theft in crypto history, hit risk appetite and triggered $1.57 billion in forced liquidations.

Binance moved to contain the damage, freezing $3 billion in stolen assets and setting aside $6.34 billion to cover losses. That reserve exceeds the headline theft figure, which limits the odds of a customer-loss spiral. A concurrent tech stock sell-off compounded the pressure, giving crypto little cushion from broader risk assets.

The $75,000 level now stands as the key support line, sitting roughly 2.4% below the current price. Crypto ETFs took sharp declines amid elevated uncertainty, which puts spot Bitcoin products such as IBIT and FBTC, along with the Ether product ETHA, squarely in the line of fire for further outflow-driven volatility.

Interpretation: the $1.57 billion liquidation figure suggests leveraged longs were flushed in a single session, which can clear positioning but also signals fragile sentiment. Binance's asset freeze and loss reserve are stabilizing factors, yet the tech sell-off means the macro backdrop is not offering relief.