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Bitcoin tests short-term holders' cost basis amid calm market reaction to Binance wallet attack

Market News
31 Oct 2026, 10:35 WIB
Tokenpost
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Neutral
Bitcoin tests short-term holders' cost basis amid calm market reaction to Binance wallet attack

Bitcoin is currently testing the average break-even price of short-term holders, showing resilience despite a recent hot-wallet attack on Binance. Analyst Axel Adler Jr. noted that the market's response to this incident has been relatively muted compared to the sharp downturn following FTX's collapse in November 2022. This suggests Bitcoin's short-term holders remain stable, and the market is absorbing the news without panic. The situation highlights Bitcoin's growing strength in handling security breaches without triggering major sell-offs.

Bitcoin trades at Rp1.402.957.650 on Pluang as of Oct 31, 2026 15:01 WIB, showing a modest 0.92% decline over the past day. Despite the recent Binance hot-wallet attack mentioned in the news, Pluang data reveals a balanced order activity with 58% buying and 42% selling, indicating steady investor interest. The typical hold time of 112 days on Pluang suggests that many users maintain their positions through short-term volatility.

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