Bitcoin Hovers Around $77K as Record Hack Spurs Leverage Flush and a Split Crypto Tape

In crypto markets, Bitcoin ended Friday, October 30, down about 0.8% at roughly $77,160 after trading between $76,240 and $78,576 over the session. The move was modest in absolute terms but added to a sense that upside momentum has cooled. Ether slipped around 0.4% to about $2,241.

Sentiment was dented by reports of a record‑breaking crypto hack that forced an exchange and its affiliates to arrange several billion dollars in funding to cover losses. Headlines pointed to some $1.5 billion in forced liquidations across Bitcoin, Ether and XRP as leveraged positions were automatically closed, accelerating a broader clean‑up of speculative trades.

The result has been a more polarized market. Large‑cap tokens such as Bitcoin and Ether drifted lower or sideways, while a subset of altcoins managed to post gains, supported by idiosyncratic news and selective inflows. That split underscores how investors are becoming more discriminating after a strong multi‑month run.

Over the three months to October 30, Bitcoin still outperformed major equity indices with a gain of roughly 20%, even as monthly returns have slowed. With equity volatility picking up and uncertainty over the U.S. policy outlook lingering, traders are debating whether crypto can resume its leadership in any renewed risk‑on phase or if it is entering a more prolonged consolidation.