Crypto News: Why Are Bitcoin, Ethereum And XRP Prices Crashing Today?
By Anjali Belgaumkar
Oct 30, 2026 19:14 UTC | 2 minutes read
The crypto market is facing a double blow. The recent $6.3 billion Binance exploit has shaken investor confidence, and a sharp sell-off on Wall Street has dragged risk assets lower. Bitcoin has fallen below its key $80,000 support, reaching its lowest point in six weeks.
Crypto Prices Today
Top coins are experiencing significant drops:
- Bitcoin: $76,428 (-5.5% in 24 hours, -6.3% over 7 days)
- Ethereum: $2,228 (-4.6% in 24 hours, -7.3% over 7 days)
- BNB: $696 (-6.4% in 24 hours, -6.3% over 7 days)
- XRP: $1.24 (-4.0% in 24 hours, -5.3% over 7 days)
Bitcoin's 24-hour trading volume has surged to approximately $194 billion, indicating intense selling pressure.
Reasons for the Crash
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Binance Hack: The largest crypto hack to date, valued at $6.3 billion, occurred on Binance. Bitcoin's price dropped from around $78,700 to a low of near $76,368 overnight. The loss of support below $80,000 was significant. While Binance founder Changpeng Zhao downplayed the damage, the exchange is covering all losses itself.
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Wall Street Sell-off: US stocks experienced a severe downturn, losing approximately $1.5 trillion in value in a single day. The S&P 500, Nasdaq, semiconductor index, and small-cap stocks all posted substantial losses, adding to the pressure on Bitcoin.
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Breaking Key Support: According to expert Michaël van de Poppe, Bitcoin was rejected at $81,000, dropped quickly to $76,000, closing a price gap, and then failed again at $78,000. Key support levels he is watching include the recent low.