Bitcoin Shows Resilience and Averts Contagion After $6.3 Billion Binance Hack

Cryptocurrency markets have largely contained the fallout from Binance's record $6.3 billion hot-wallet breach, with analysts seeing no broader contagion. Bitcoin dropped just 6% within ten hours of the breach, accompanied by a 67% jump in daily trading volume to $40.9 billion, signaling structural maturity according to Fitch Ratings. The October 29 attack drained assets across 10 blockchains, including 18,270 bitcoin valued at roughly $1.5 billion. Panic subsided after Binance pledged to cover all user losses, causing daily net outflows to plunge from $6.1 billion on November 2 to $458 million.