Bitcoin price fell on October 29, 2026, as reports circulated of large outflows from Binance-linked wallets. Trader Nebraskangooner posted at 20:51 UTC that bitcoin had moved from roughly $80,800 to $78,800 in the preceding hour; the reported transfers had not yet been confirmed as a hack by Binance.

Key Takeaways

  • A Binance BTC/USDT five-minute bar reached a low of 78,297.05 USDT, separate from its closing price.
  • The Ethereum transfer included ether, stablecoins and wrapped bitcoin; the available record did not establish that the wrapped bitcoin was sold.
  • Binance shareholder Changpeng Zhao said the incident looked like a hack, but noted that he no longer manages the exchange.

Bitcoin price and the trading window

Binance’s five-minute BTC/USDT candles show a decline during the period when wallet-outflow reports were circulating. The rounded prices in the trader’s post are not the same as the exchange’s candle closes.

The bar that opened at 20:45 UTC reached 78,297.05 USDT before closing at 78,986.60 USDT. The last completed bar in the retrieved series opened at 21:40 UTC and closed at 79,169.86 USDT.

The timing of the wallet reports and the price decline does not by itself establish what caused the move. The available record did not provide a liquidation total.

ItemDetails
19:55 UTC barBTC/USDT closed at 80,848.64 USDT.
20:40 UTC barBTC/USDT closed at 78,884.52 USDT.
20:55 UTC barBTC/USDT closed at 78,851.99 USDT, the lowest close in the retrieved chart window.

What moved from the wallet

An Ethereum transaction at 20:24 UTC from an address labeled Binance 14 moved about 167,464.25 ETH and 1.615 billion USDT, alongside other tokens including 82.54351401 wrapped bitcoin. A separate transaction at 20:41 UTC sent 780 million USDC to the same recipient.

Wrapped bitcoin is a token on Ethereum, not native bitcoin moving on the Bitcoin network. Ethereum’s ERC-20 token standard defines functions for transferring tokens between accounts; the standard does not verify the reported transactions or establish whether funds were stolen.

Zhao’s response

At 21:15 UTC, Zhao said the incident looked like a hack and that user funds were safe. He said Tether and Circle had frozen approximately $971 million and $823 million, respectively, and expressed an expectation as a shareholder that user funds would be fully covered.

Zhao said he no longer manages Binance.com. Reports shortly before his post said Binance had not yet commented; the available record does not establish whether the company issued a later statement.

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