Bitcoin remained near $77,926 at 11:02 UTC on Monday, holding roughly 2% above its post-incident low. Ether was also comparatively steady at $2,285.83, suggesting that the broader market had absorbed some of the initial shock.
The latest price action came after Bitcoin fell to $76,141 at 18:50 UTC on Friday, Oct. 30, on Coinbase. Its return to the upper-$77,000 range showed that buyers were prepared to enter the market even while the Binance crisis dominated trading discussions.
Withdrawals Resume Without a Full-Scale Run
Binance started restoring customer withdrawals in stages at 06:00 UTC on Sunday, Nov. 1. The reopening followed a temporary freeze imposed after the security breach and offered the first clear test of whether users would rush to leave the exchange.
The initial activity was substantial, but it did not develop into an uncontrolled stampede. From 06:00 to 15:30 UTC, customers withdrew $4.649 billion and deposited approximately $1.01 billion, producing a net outflow of about $3.64 billion.
Binance said the net movement represented approximately 2.1% of the $171 billion in customer assets listed in its Oct. 28 proof-of-reserves report. Reuters likewise reported that the exchange had covered most of the stolen assets and that the outflow amounted to 2.1% of its holdings.
After the first surge, Binance reported that withdrawals were slowing and settling into a more predictable pattern. That shift helped calm concerns that the incident could trigger a broader liquidity crisis.
ETF Selling Did Not Push Bitcoin Lower
Bitcoin also faced heavy institutional selling pressure. U.S. spot Bitcoin ETFs registered combined net outflows of $643.3 million on Friday, their largest single-day withdrawal since June 25, according to SoSoValue.
BlackRock’s IBIT recorded an outflow of $233.7 million, while Fidelity’s FBTC lost another $201 million. Even so, Bitcoin did not revisit the session’s low after the ETF figures became available.
Friday was particularly significant because it was the first U.S. trading day after the breach began following Thursday’s market close. Investors therefore had to respond to the incident almost immediately, yet the selling failed to create a deeper collapse. The market’s ability to hold above $76,000 pointed to continuing demand beneath the fear.
The Scale of the Theft
Blockchain intelligence companies TRM Labs and Chainalysis estimated that more than $6.3 billion had been taken from Binance. Their investigations connected the operation to TraderTraitor, a North Korean hacking group.
TRM reported that approximately $6.36 billion moved from Binance wallets across 10 blockchains, with much of the activity occurring within about 20 minutes. The scale made the incident one of the largest cryptocurrency thefts ever recorded.
Binance promised to absorb the losses rather than transfer them to customers. The exchange said it would use its SAFU emergency fund and corporate resources to cover the shortfall, a commitment that likely helped prevent a more severe withdrawal spiral.
Geopolitical Risks Add Fresh Volatility
The exchange breach is not the only issue facing digital-asset traders this week. Tensions involving Iran are also influencing the market as Tuesday’s U.S. midterm elections approach.
Axios reported that Israeli Prime Minister Benjamin Netanyahu urged President Donald Trump to attack Iran immediately after the election. Trump has sounded less urgent, telling reporters that discussions with Tehran were progressing and that he was not in a rush.
Secretary of State Marco Rubio also indicated that no final decision had been made, according to Iran International. Traders must therefore weigh two separate risks: the fallout from a record exchange theft and the possibility of a sudden geopolitical escalation.
What the Market Is Signalling
Bitcoin’s resilience does not erase the seriousness of the Binance incident, but it does show that the breach has not yet caused a system-wide panic. Withdrawals were large, ETF selling was intense, and the stolen sum was extraordinary; nevertheless, Bitcoin found buyers near its weekly low.
For now, the market appears to be separating Binance’s operational crisis from Bitcoin’s broader liquidity. That distinction could remain important as the exchange completes its withdrawal restart and investors watch the next developments in U.S. foreign policy.
Ava Carter writes about casino games — slots, live dealer tables and game shows — for Canadian players. She focuses on the mechanics that decide how a session actually goes: RTP and volatility, bet sizing, table limits, and the gap between demo play and real money. Her guides aim to make the maths legible before anyone stakes anything, and treat deposit and time limits as part of playing well, not an afterthought.