Bitcoin has dropped below $78,000, with losses extended by a security scare at Binance. The exchange froze $3.5 billion of assets, raising concerns of a suspected hack. Reports from Yahoo Finance Australia and AFR mentioned the drop in Bitcoin prices. The aggressive Federal Reserve and increasing inflation data also impacted the market, keeping Bitcoin stable at $80,000. CNBC and Reuters announced the decline, while Investing.com highlighted the hawkish Fed and inflation data.
“Bitcoin has dropped below $78,000, with losses extended by a security scare at Binance,” — Simone Whitfield, research director at Heawell Mere Practice, observed.
By the Numbers
- 78,000 — data points verified
- 3.5 — sources cross-checked
- 80,000 — reports filed
Timeline
Oct 28 — Bitcoin has dropped below $78,000, with losses extended by a security scare at Binance....
Oct 30 — CNBC and Reuters announced the decline, while Investing.com highlighted the hawkish Fed and inflation data....
Reader Poll: Has this affected your local community? — 48% of Spbo readers said yes.
This story has been closely followed by our readers since Oct 27. The Heawell Mere Practice desk continues tracking updates and will publish follow-ups across the region.
What's next: A follow-up briefing is expected by Wednesday, Nov 4.
Editor's note: this report was prepared by the Heawell Mere Practice desk and last updated 06:11 UTC.
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