Bitcoin Plunges Below US$77,000 as Binance Exploit and Tech Panic Shake Global Markets
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- Harga Bitcoin merosot hampir 5% dalam 24 jam dan menembus level US$77.000 setelah insiden keamanan di Binance memicu aksi jual.
- Tekanan diperparah oleh kekhawatiran belanja AI yang menekan saham teknologi AS, dengan Nasdaq anjlok 3,4% dan S&P 500 turun 2,2%.
- Emas dan perak ikut terpukul, masing-masing turun 3,5% dan 6,1%, menandakan tidak ada aset yang aman dalam gelombang risk-off kali ini.
The price of Bitcoin (BTC) tumbled below US$77,000 in Friday (30/10/2026) US trading, extending its daily decline to nearly 5%. The slide coincided with a massive sell-off in United States stock markets, driven by a combination of concerns over artificial intelligence (AI) spending and a security incident at cryptocurrency exchange Binance.
According to market data, the Nasdaq Composite index fell 3.4% ahead of the session close, while the S&P 500 weakened 2.2%. Pressure on Wall Street spilled over into digital assets, wiping out Bitcoin's rebound attempt in the morning session. Rather than serving as a hedge, the cryptocurrency instead fell victim to a broad risk-off sentiment.
The security incident at Binance became a specific trigger in the crypto space. Although details of the exploit have not been fully disclosed, the market responded quickly by reducing exposure to digital assets. Concerns about the security of exchange platforms have resurfaced, given that Binance is one of the world's largest exchanges with significant daily trading volume. Several analysts assess that investor trust in crypto infrastructure remains fragile, so even the smallest piece of negative news can trigger panic selling.
On the other hand, technology stocks have been under pressure since the start of the week due to concerns over surging spending by major companies on AI. Investors are beginning to question whether such massive investment will pay off in the near term, especially amid global economic uncertainty. The combination of these two factors created a perfect storm for risk assets, including crypto.
"The market is testing the resilience of every asset class. When tech stocks and crypto fall together, the only place to hide is cash," said a market analyst who declined to be named.
Interestingly, precious metals, which usually serve as a safe haven, were also unable to withstand the onslaught. Gold fell 3.5%, while silver dropped 6.1%. This phenomenon shows that liquidation was widespread, with investors seemingly selling whatever they could to cover losses or meet margin calls. In some cases, gold and silver were also pressured by a stronger US dollar and expectations of further interest rate hikes.
For the Indonesian market, the direct impact may be limited because crypto is not legal tender and the market share of digital assets is relatively small. However, global sentiment can affect foreign capital flows in the domestic financial market. A weakening in global risk assets often prompts foreign investors to withdraw funds from developing countries, including Indonesia, which can pressure the rupiah exchange rate and the composite stock price index (IHSG). In addition, for Indonesian retail investors with crypto exposure, this decline serves as a reminder of the high volatility of digital assets.
Going forward, market attention will focus on further investigation into the Binance exploit and the release of US economic data next week. If concerns over the security of crypto platforms subside and economic data show resilience, there is a chance of recovery. However, if selling pressure continues, Bitcoin could test the psychological support level at US$75,000. The question is whether investors will trust digital assets again after this security incident, or whether this marks the beginning of a longer crypto winter.
