Bitcoin fell about 6% in the 10 hours after initial reports of a Binance hack, according to Fitch Ratings, as cited in an Odaily brief published on November 10, 2026, at 04:52:15 UTC+8. Fitch said the smaller decline relative to several past shocks reflected a deeper, more diversified trading market, while warning that cybersecurity and operational risks remained significant.
Reported losses and market activity
According to the report, the incident involved approximately $6.3 billion in digital assets stolen across multiple blockchains. That included roughly 18,270 bitcoin, valued at about $1.5 billion at the time of the incident.
Over the same period, Bitcoin’s daily trading volume rose 67% to $40.9 billion.
Fitch’s market-structure assessment
Fitch compared the approximately 6% decline with several earlier Bitcoin selloffs:
- A 35% single-day drop during the early stages of the COVID-19 pandemic in 2020.
- A 14% decline following FTX’s collapse in 2022.
- A 21% decline after the Bitstamp hack in 2015.
Fitch said deeper and more diversified trading markets had reduced dependence on any single exchange and could support liquidity when an individual platform suffered disruption. The comparisons describe different historical episodes; the supplied report specifies a 10-hour window for the Binance-related decline and a single-day window for the pandemic decline.
Binance co-founder and former CEO CZ called for industry unity and said the interconnected structure of crypto markets helped prevent systemic collapse. Fitch nevertheless emphasized that cybersecurity vulnerabilities and operational interruptions remained major risks.
Source: Odaily, citing Bitcoin.com News, published November 10, 2026, at 04:52:15 UTC+8. The brief does not specify the date of the reported hack.