Bitcoin shows resilience amid Binance hack and tech stock selloff, Xapo CEO says
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Bitcoin has shown notable resilience following the Binance hack and a broader tech stock selloff, according to Xapo CEO Seamus Rocca, who argues the price action points to a potential decoupling from traditional risk assets. The comments come after Binance suffered a security breach that triggered market turbulence, while equities—particularly technology stocks—sold off in parallel, a scenario in which bitcoin historically traded lower alongside risk assets. Rocca said bitcoin's ability to hold its ground through both shocks suggests evolving investor behavior, with the asset increasingly treated as distinct from tech-heavy equity exposure rather than a high-beta proxy. The article, published via Crypto Briefing, did not specify the size of the hack, the price levels bitcoin traded at, or the magnitude of the equity selloff. Market watchers will be watching whether bitcoin's divergence from Nasdaq-style risk assets persists through further volatility, and whether Binance discloses additional details on the hack's scope and user fund impacts.
Muhabbit's AI wrote this summary in its own words from Crypto Briefing's report. It can get details wrong, so check the source.
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Bitcoin (BTC), Binance, Xapo
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