Since the world's largest cryptocurrency exchange was hit by a record number of cyber thefts last week, investors have planned for the worst; unexpectedly, Bitcoin is unexpectedly strong. Bitcoin rose on Monday and is currently around $78,000, about 4% lower than last Thursday's high — before Binance revealed a serious hacking incident. This hacking incident eventually led to the theft of $6.3 billion of users' funds. Bitcoin's resilience is widely regarded as a result of Binance's rapid response: Binance promised from the beginning that it would bear all losses. “Bitcoin held up over the weekend, essentially the market's vote of confidence in Binance. The market clearly believes that Binance has enough capital to cover losses,” said Caroline Mauron, co-founder of Orbit Markets.

Since the world's largest cryptocurrency exchange was hit by a record number of cyber thefts last week, investors have planned for the worst; unexpectedly, Bitcoin is unexpectedly strong. Bitcoin rose on Monday and is currently around $78,000, about 4% lower than last Thursday's high — before Binance revealed a serious hacking incident. This hacking incident eventually led to the theft of $6.3 billion of users' funds. Bitcoin's resilience is widely regarded as a result of Binance's rapid response: Binance promised from the beginning that it would bear all losses. “Bitcoin held up over the weekend, essentially the market's vote of confidence in Binance. The market clearly believes that Binance has enough capital to cover losses,” said Caroline Mauron, co-founder of Orbit Markets.