CZ Sees Limited Bitcoin Downside Following $6.3 Billion Binance Exploit

Bitcoin traded around $77,300 following a 6% drop from $81,900 after a $6.3 billion security exploit at Binance. Former Binance CEO Changpeng Zhao said he expects limited downside because direct Bitcoin exposure was limited to 18,270 BTC, or less than 1% of total supply. Binance established a $6.34 billion reserve fund to absorb all damages and fully compensate users, keeping balances unaffected. In derivatives, Bitcoin Open Interest declined from $27 billion to $24 billion, which analysts described as a leverage flush while the broader bullish structure holds.