Crypto market slides as Binance hack and Wall Street selloff hit BTC, ETH, XRP and BNB

What happened

Bitcoin, ether, XRP and BNB all traded lower in late October as a broad crypto selloff accelerated. In its Oct. 31 analysis, U.Today put BNB at about $696.43, XRP at roughly $1.2352 and ether at around $2,222.59, while bitcoin was near $76,650. The report said bitcoin had been rejected from the $81,000, $82,000 area and was testing its 200-day moving average around $76,400, $76,600. U.Today described the session as October's biggest volatility increase.

Coinpedia, reporting on Oct. 30, linked the drop to two simultaneous shocks: a $6.3 billion Binance exploit and a sharp Wall Street selloff. The outlet said US stocks lost about $1.5 trillion in value in one session and major indexes were heading for their worst day since June. Bitcoin fell from about $78,700 when the first major reports appeared to an overnight low near $76,368, breaking below the $80,000 support it had been defending. Coinpedia put bitcoin's 24-hour trading volume at about $194 billion.

The altcoin charts also weakened. U.Today said BNB failed to hold a recovery above $750 and had made lower highs since an October peak near $810. XRP repeatedly failed to hold momentum above $1.40 and slipped below its 200-day moving average near $1.36, $1.37, while ether fell below $2,300 from an October peak near $2,800. The report said selling volume rose during the declines, and RSI readings fell to the mid-30s for bitcoin and the low 30s for XRP.

Why it matters

Bitcoin's 200-day moving average is a widely followed long-term trend gauge, so the test near $76,400, $76,600 drew attention across the market. U.Today said a daily close below that line could extend the decline, while a reclaim of $78,000 would be needed for any stabilization. The report also flagged heavier resistance at $80,000, $82,000. For the broader market, the simultaneous weakness in BNB, XRP and ether underlined how the Binance exploit and the Wall Street selloff had hit risk appetite beyond bitcoin. Coinpedia noted that the Binance incident is the largest crypto hack by dollar terms, even as Changpeng Zhao argued the exchange is covering all losses itself.

What the data shows

U.Today listed bitcoin support at $76,000, $76,500, with further downside levels around $74,000 and $72,000 and the $70,000 psychological level in a deeper correction. Resistance was placed at $78,000 and then $80,000, $82,000. For BNB, the 100-day average was about $707, the long-term average $690, near-term support $680 and a past floor at $650; resistance was $710, then $735, $750 and $770. XRP's nearest support was $1.20, $1.22, with $1.15 and $1.10 below that and $1.00 as a longer-term level; resistance was $1.28, $1.30 and $1.33, $1.37. Ether needed $2,300 to ease pressure. Coinpedia cited $75,000, $75,800 as support to watch and $80,000 as resistance.

Background

BNB had climbed from July lows near $545 to an October peak around $810 before reversing, according to U.Today. XRP rallied toward $1.60 in September but then corrected, and its recovery attempts did not turn into a lasting uptrend. Ether's slide came after an October peak near $2,800. Coinpedia compared the market reaction with past exchange failures: Mt. Gox lost 650,000 BTC, more than 5% of bitcoin's supply at the time, and FTX affected nearly all customers. In Binance's case, CZ said the exchange is covering all losses. Coinpedia also cited Glassnode on-chain data suggesting the drop may not be as damaging as it looks, and said history shows hack-driven crashes can be short-lived.

What to watch

Traders and analysts will watch whether bitcoin can defend the 200-day average and avoid a daily close below $76,000, or whether it can reclaim $78,000. For BNB, the $680, $690 zone was cited as the first test; for XRP, the $1.20 area; and for ether, the $2,300 level. The market's reaction to the $6.3 billion Binance exploit and to the Wall Street selloff will also be in focus, with Coinpedia noting that bitcoin can either set a higher low or fall back toward its $58,000 cycle low.

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