CZ Says Bitcoin Fell Less Than Traditional Markets During Selloff

Bitcoin (BTC) was down 3.10% over 24 hours at 7:39 a.m. ET (11:39 UTC) Oct. 30, while CZ said traditional markets had suffered steeper losses.

BTC stood at $77,563 at that time. The price was lower over the 24-hour period even as CZ described Bitcoin as holding up better than traditional markets.

CZ was responding to a community user's comment about Bitcoin's resistance to falling. The commenter raised a hypothetical in which a hack of more than $6 billion at the world's largest crypto exchange could have put heavier pressure on BTC, and compared that scenario with the token's roughly 3% daily loss.

CZ said traditional-market declines often affect crypto when investors sell assets and keep cash. He characterized Bitcoin's performance on Oct. 30 as surprising because traditional markets had fallen more sharply than crypto. The comparison described relative resilience, not an increase in Bitcoin's price.