Crypto Market Today, Oct. 29: Bitcoin Slides Below $80K as Big Tech Earnings Uncertainty and Market Volatility Intensify
Bitcoin (CRYPTO:BTC) fell 1.19% to $80,297.76, Ethereum (CRYPTO:ETH) fell 1.84% to $2,313.94, and Solana (CRYPTO:SOL) fell 3.26% to $98.97. As of early evening on Oct. 29, the three largest cryptocurrencies were under pressure in a broad risk-off tape. Weakness across technology stocks weighed on broader market sentiment Thursday, with selling pressure spilling into cryptocurrencies . The decline triggered approximately $356 million in crypto futures liquidations, including $205 million in long positions, according to CoinDesk. Adding to the uncertainty, reports of a potential security breach involving wallets linked to cryptocurrency exchange Binance (CRYPTO: BNB) have raised concerns among traders. Initial reports indicate approximately $2 billion in transfers from exchange-linked wallets, though there is no confirmation that the funds were stolen or that a breach occurred. Bitcoin continued its slide on the day, falling below $79,000. The situation remains unverified and warrants close attention as more information becomes available. Continue reading