Bitcoin Rebounds Toward $78,500 After Binance Hack Triggers $1.53B Liquidation Wave

Bitcoin rebounded toward $78,500 after plunging to multi-week lows between $76,350 and $76,460 following a major security breach at Binance. The exploit, which affected an estimated $6.3 billion in assets and prompted Binance to suspend deposits and withdrawals, triggered widespread market liquidations totaling between $1.49 billion and $1.53 billion over 24 hours. Long positions represented the vast majority of closures, including $1.29 billion wiped out. Bitcoin led the closures with up to $499 million in liquidations, while Ether accounted for up to $365 million as it dropped below $2,200.