Bitcoin and Ethereum Price Outlook After History’s Biggest Crypto Hacks - CoinGape

The cryptocurrency market continues to face downward pressure following a series of significant security breaches. As of October 31, 2026, Bitcoin trades below $78k while Ethereum hovers around $2,243, with the overall crypto market declining by 0.59% to $2.59 trillion in the last 24 hours.

Recent market weakness stems primarily from Binance's massive $6.3 billion security hack, one of the largest in cryptocurrency history. This incident has raised fresh concerns about the security of exchanges and the protection of digital assets across the industry.

Major Crypto Hacks

The cryptocurrency sector has experienced numerous devastating security breaches over the past decade, resulting in billions worth of stolen assets and eroded trust in centralized platforms. Among the most significant incidents was the Bybit hack in February 2025, where approximately $1.5 billion in Ethereum was stolen, with investigators attributing the attack to North Korean hackers.

Other notable breaches include the $611 million theft from Poly Network in 2021 and the Ronin Network hack in March 2022, which caused losses of roughly $624 million. Coincheck suffered a $534 million security breach in January 2018, while the Mt. Gox incident involved about $470 million in stolen bitcoins.

Institutional Response

Following the Binance hack, numerous cryptocurrency projects have reacted by freezing or recovering affected tokens, demonstrating the importance of blockchain monitoring and collaborative security efforts. Meanwhile, institutional investors have been withdrawing funds from cryptocurrency ETFs at an alarming rate.

Data from SoSoValue shows that on October 30, US spot Bitcoin ETFs experienced $643 million in net outflows, with BlackRock's IBIT accounting for $234 million of that total. Spot Ethereum ETFs saw $156 million in outflows, marking the fifth consecutive day of withdrawals for Ethereum products. BlackRock's ETHA experienced the largest outflows at $76.64 million.

Price Outlook

Bitcoin is currently trading at $77,247 with its MACD indicator showing a bearish trend, with the MACD line at -1,148.98 against a signal line of -580.12. The negative histogram of -568.86 indicates continuous selling pressure. Bitcoin's immediate support levels are at $76,300 and $75,900, with resistance at $78k and $80K.

Ethereum trades at an average of $2,243 with a 4-hour chart RSI of approximately 37, placing it near oversold territory. Ethereum's immediate support stands at $2,208 and $2,156, with resistance at $2,300 and $2,400. A long-term recovery above resistance levels would improve Ethereum's short-term prospects.