Reports of a suspected Binance-linked hack and frozen funds could have added BNB-specific concern during the fall. The available derivatives data also suggests a possible positioning amplifier, but does not establish one.
May have started the movePossible
Reports at Oct 29, 07:15 UTC described a suspected hack and frozen funds; later reports at Oct 29, 14:58 UTC linked the hack to BNB weakness. These concerns could have encouraged selling, but the reports do not verify the suspected activity.
Cointelegraph reported that Binance suffered a multibillion-dollar hack, sending BNB down 8% while Bitcoin, Ether and the wider crypto market also fell, with Bitcoin nearing $77K.