Bitcoin fell to $76,368 on Friday, a six-week low, after Binance said hackers had taken about $6.3 billion from the exchange. Reuters said the coin then stabilized, while ether dropped more than 3% to a two-month low of $2,178. CNBC had bitcoin more than 4% lower at $77,994.96. Saxo put an early snapshot near $78,200 after the low. That is a clean break from the $80,100 area in Thursday's note. The full breach is in today's business story.
BNB, Coinbase and Strategy shares fell with the coin
BNB, the token used for Binance fees, was down 5% over 24 hours at $709.70 on CoinGecko, Reuters said. Coinbase, which said it was not affected, fell 4.8%. Strategy, the listed bitcoin buyer, dropped nearly 6% in extended US trade. Circle shares fell about 5% after hours on Thursday, CNBC reported. Aravind Srinivasan at market maker GSR called it the biggest hack in history as prices fell across the board. Tim Sun at HashKey Group said the breach could push investors to look again at coins left on centralised exchanges, on top of pressure from higher US rates and softer ETF demand.
Thursday's ETF bid was too small to hold $80,000
A flow table that matched Wednesday's $137.3 million creation put Thursday's US spot bitcoin ETF net inflow at $17.2 million, a fourth green day, Alpha Finance data showed. BlackRock's IBIT took $12.8 million, Fidelity's FBTC $10.5 million and Bitwise's BITB $8.8 million. Grayscale's Bitcoin Mini Trust lost $15.3 million and WisdomTree's BTCW lost $3.8 million. Another desk still had an incomplete tape near flat, so the total can be revised. The point for Friday is simpler: a small inflow did not stop the slide once the hack headlines landed. September PCE at 3.6% and third-quarter GDP at 3.4% are in the economy note. Gold's test of $4,000 is in the commodities update. Follow the tape on the markets desk.