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Two linked exchange hacks spark fears of a wider altcoin crash amid market uncertainty.

05 Nov 2026, 09:00 WIB
AMBCrypto
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Bearish
Two linked exchange hacks spark fears of a wider altcoin crash amid market uncertainty.

Two major crypto exchange hacks occurred within 24 hours, with Mercado Bitcoin losing $38-$49 million and BitMart confirming a related incident. Hackers have been selling various altcoins and converting them into Ethereum, holding about $18 million in ETH. This activity, combined with weak ETF flows, falling altcoin indexes, and macroeconomic uncertainty ahead of the US midterms, raises concerns about increased sell pressure and a potential broader altcoin market crash. On-chain tracking continues as investors watch for further market impacts.

Ethereum's market cap stands at Rp5.355,98 trillion with a 24-hour trading volume of Rp284,45 trillion on Pluang as of Nov 05, 2026 14:21 WIB. Despite the recent hacks involving BitMart and Mercado Bitcoin, Ethereum's price on Pluang has risen by 5.29% to Rp44.001.400, showing resilience amid increased sell activity where 69% of orders are sell orders. The typical hold time of 108 days suggests many investors remain committed despite current market uncertainties.

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