Binance Hack Sparks Crypto Bloodbath; Bitcoin Crashes Below $77,000
MSTR sits 63% above its 52-week low of $81.81.
Summary
A hack on Binance, the world's largest crypto exchange, drained roughly $5.91 billion according to Chainalysis — nearly four times the next-largest crypto heist. Bitcoin fell below $77,000 (-5.10%) and Ethereum, XRP, Solana and Dogecoin dropped 5.9% to 7.7%. Strategy Inc. closed down 2.44% and Bitmine Immersion fell 1.99%, both taking a direct hit as bitcoin proxies. The selloff wiped out about $1.5 billion in crypto positions, $1.3 billion of it longs, and sentiment has tipped into 'Fear.' Binance says it will cover all losses and has suspended deposits and withdrawals. Watch bitcoin's 200-day moving average near $73,000 and the 365-day average around $77,406 as the next support levels analysts cite.
At the time of this announcement, MSTR was trading at $133.47 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $59.8B. The 52-week trading range was $81.81 to $286.18. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Benzinga.