Bitwise finds Bitcoin split 5-5 in the month after the 10 largest hacks

Only five of the 10 biggest crypto hacks in history ended with Bitcoin higher by the end of the month, wrote Bitwise chief investment officer Matt Hougan on November 4. He says the $6.3 billion Binance hack is not likely to have a lasting effect on the market. BTC’s ~4% slide tracked the Nasdaq-100’s ~3% drop Hougan tracked Bitcoin (BTC) in the 30 days after the 10 biggest crypto thefts, including Binance. There were five down and five up. His former colleague and now head of research at Anchorage Digital, David Lawant, was credited with the technique. The memo came six days after the October 29 Binance heist. It was the biggest cyber-theft in history, in dollar terms, at about four times the previous record.

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