Bitcoin holds near $78,000 as Polymarket and Binance recover from hacks

what happened

Bitcoin held near $78,000 across the weekend, even after a turbulent week of crypto security incidents, according to Stocktwits. Prediction market Polymarket was hit by a breach at a third-party provider, paused trading, and said it would reimburse affected traders. The company reported that 689 of 726 affected wallets had been repaid in full, while the remaining 37 are being paid after verification.

An even larger theft hit Binance, which the FBI attributed to a group it calls TraderTraitor; more than $6 billion was taken. Together the two incidents wiped out over $1.6 billion in leveraged positions, and bitcoin dipped to about $77,300 on Thursday. Binance has started restoring withdrawals, beginning with the bitcoin network, and says roughly 90% of the stolen funds have been replenished.

By Sunday bitcoin traded near $77,900 with an intraday high of $78,133, and the Crypto Fear & Greed Index returned to neutral. Retail sentiment on Stocktwits shifted to extremely bearish from bearish.

why it matters

The scale of the Binance theft highlights risks at centralized exchanges, yet the price held after a wave of forced liquidations. Quick withdrawal restoration and reimbursements reduce the chance of prolonged outflows, though confidence in exchange security remains under pressure.

market impact

Bitcoin: liquidations and hacks weigh on sentiment, but reimbursements and restored withdrawals support the price

• ↔Bitcoin mixed — hacks and liquidations weigh on sentiment, but reimbursements and restored withdrawals support the price

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