Binance Hack Fallout Keeps Bitcoin Price Under Pressure Below $77K

Bitcoin slipped below $77,000 on Monday, despite Binance’s announcement that it had fully replenished assets lost in the recent hack using its own funds. Another, albeit much smaller crypto exchange hack also popped up on Monday. Bitcoin slipped below $77,000 on Monday as the cryptocurrency continued to grapple with a crisis of confidence triggered by the massive Binance hack. Even Strategy’s latest bitcoin purchase failed to lift investor sentiment, while the fallout from the breach has driven billions of dollars in outflows from Binance ahead of the exchange’s highly anticipated proof-of-reserves report. Market data, however, shows that the cryptocurrency experienced another volatile day as it swung heavily on either side of $78,000.

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