After the Binance hack, one analyst sees the latest bitcoin selloff as a bear market low
ZX Squared Capital's CK Zheng says the selloff after the Binance hack may be the last chance to buy bitcoin below $80,000 before the next bull market.
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what happened
According to Market Talk, the crypto market sold off after a $6.3 billion hack at Binance. ZX Squared Capital's CK Zheng says this may be the last major opportunity to accumulate bitcoin below $80,000 before the next bull market begins.
Zheng argues that exchange hacks have historically had only short-term effects on bitcoin, driven by trader psychology rather than weaker fundamentals. He calls the current drop the final capitulation phase of the 2026 crypto bear market.
why it matters
For markets, the bigger issue is trust in centralized exchanges. If withdrawals stay restricted and reserves come into doubt, liquidity could drain from platforms and stablecoins could become a channel for contagion. Bitget Wallet's Lacie Zhang notes that bitcoin's reaction has so far been more contained than after previous cyber incidents.
market impact
Bitcoin: weaker trust in exchanges after the hack adds pressure on crypto prices
- Bitcoin pressure down — trust in centralized exchanges weakened after the hack
tags
instruments
sources
- Binance Hack Seen as Last Swipe of Bitcoin Bear Market — Market Talk, 30 October 2026 at 16:00 UTC
- Binance Hack Seen as Last Swipe of Bitcoin Bear Market — Market Talk, 30 October 2026 at 16:00 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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