Key Highlights

● Bitcoin traded around $76,700 to $77,600 on Friday, October 30, 2026.

● It was down from about $86,000 earlier in October.

● It hit a six-week low.

● Ether slid to about $2,237.

Bitcoin ended the week trading at roughly $76,700 to $77,600 on Friday, October 30, 2026, down from about $86,000 earlier in the month. The drop pushed the largest Cryptocurrency to a six-week low and capped a rough October for digital assets.

Ether fared no better. The second-largest cryptocurrency slid to about $2,237, a two-month low. The iShares Bitcoin Trust, the biggest bitcoin exchange-traded fund, fell sharply alongside the token.

The Binance shock

The most immediate trigger was Binance. The exchange disclosed a breach on Thursday evening and on Friday confirmed that about $6.3 billion had been stolen, according to reports, which would be the largest crypto heist on record. Blockchain analytics firms TRM Labs and Elliptic tied the theft to North Korea.

Binance moved to contain the fallout. About $3 billion has been frozen, Binance pledged to cover losses, and withdrawals are to resume by Sunday, according to market data. "We are committed to covering all hacked losses through our company funds," co-CEO Richard Teng said.

Even so, the episode hit confidence. A digital-assets research head said: "I suspect the negative price action still has some way to go."

A hawkish Fed

Bitcoin was also caught in a broader repricing of interest rates. The Federal Reserve held rates steady this week, but two officials dissented in favor of a hike, and markets now price a December increase as likely, according to CME FedWatch.

On Friday, three Fed officials said rates need to go higher. St. Louis Fed President Alberto Musalem said: "I judge that additional firming of Monetary Policy will be necessary, and soon." Richmond Fed President Tom Barkin said: "I think the question though is pace." Higher rates tend to weigh on speculative assets. Governor Lisa Cook and Cleveland Fed President Beth Hammack were the two dissenters at this week's meeting, each preferring a quarter-point increase, and Dallas Fed President Lorie Logan said she wants at least two more hikes.

Tech selloff spills over

Crypto also moved with technology stocks, which suffered one of their worst days of the year. The S&P 500 fell 140.32 points to 7,580.07, the Dow dropped 572.25 points to 51,770.31, and the Nasdaq Composite lost 747.73 points to 25,437.00, its worst day since June 5. Intel (NASDAQ:INTC)'s cash-burn warning and Amazon (NASDAQ:AMZN)'s results triggered selling in chip and AI stocks.

Crypto stocks fell hard. Coinbase Global (NASDAQ:COIN) tumbled after a weak quarter and the hack news, and Strategy, which holds 848,517 bitcoin, slid with the token. Robinhood Markets (NASDAQ:HOOD) and the bitcoin miners also fell.

Traditional havens offered little shelter. Gold dropped $132.50 to $3,898.90, a 52-week low, and silver fell sharply too, as rate-hike expectations and firm oil prices weighed on precious metals.

What to watch

The near-term focus is whether Binance resumes withdrawals by Sunday and whether more stolen funds are frozen. A smooth reopening could ease fears; further problems could deepen them.

Investors will also watch the October jobs report on Friday, November 6, which could firm up expectations for a December Fed hike. The midterm elections on Tuesday and Apple (NASDAQ:AAPL)'s Earnings on Monday will shape the broader appetite for risk. The analyst's warning suggests at least one analyst is not yet calling a bottom.