Bitcoin Falls Below $77,000 Amid Tech Earnings, Binance Security Incident

Bitcoin (BTC) fell below $77,000 as investors weighed weaker-than-expected results and outlooks from Amazon and Intel alongside a security incident at Binance, adding pressure to crypto markets.

Amazon reported third-quarter revenue of about $201.9 billion, below the $202.1 billion market forecast. Earnings per share were $1.89, compared with an expected $1.96. The company’s fourth-quarter profit outlook also fell short of market expectations.

Intel’s third-quarter revenue, gross margin and earnings exceeded its own prior guidance. But its fourth-quarter revenue forecast of $15 billion to $16 billion had a midpoint about $1.8 billion below market expectations. Intel also forecast a 38% gross margin for the quarter.

Binance acknowledged a security incident involving its hot wallet, pledged to cover all losses and paused deposits and withdrawals while it conducted security checks and tracked assets.

Nasdaq futures also declined, while U.S. Treasury yields fell as money moved toward government bonds.