Bitcoin Drops as Markets Digest Multbillion-Dollar Binance Hack

Bitcoin slipped below $77,000 as broader markets digested recent results and outlooks from major tech companies, including Amazon and Intel. Crypto-specific pressures also surfaced after Binance disclosed a “security incident” described by some experts as a hack attributed to North Korea, which affected more than $6 billion. Binance said it suspended withdrawals and that losses would be covered, and CEO Richard Teng said on X it was recovering stolen assets for users. Confidence was shaken widely, with The New York Times calling it the largest crypto heist in history, while Binance founder Changpeng Ziao criticized the situation. Analysts said the key test would be how quickly withdrawals resume and whether outflows remain orderly. Binance added its U.S. trading operation was unaffected.