Strive CEO Matt Cole said Bitcoin’s decline after the reported roughly $6.3 billion Binance theft was smaller than expected, while cautioning that it was too early to call a market bottom, BlockBeats reported.
Bitcoin reaction
Cointelegraph reported that Bitcoin traded near $77,400 on Saturday, about 4% below its level before the attack began Thursday. Strive had disclosed holding 43,000 BTC as of October 23. Cole said the incident had not changed his long-term investment view.
Recovery remains a scenario
Cole described the market as being in an “early spring” recovery phase that could last six to nine months, with prices rising gradually rather than quickly reaching new highs. He did not present that view as a confirmed forecast.
Investigation continues
Wirex’s Paul Chapman said the attack targeted one company’s systems rather than the Bitcoin network. Blockaid CEO Ido Ben-Natan said attackers may have exploited Binance’s transaction-signing process, while Binance said it had found no evidence of leaked wallet private keys as of Friday.
The price data and views are attributed to Cointelegraph, Cole and the other sources cited by BlockBeats. The investigation remains ongoing. Sources: BlockBeats English flash and Cointelegraph, published October 31, 2026.