Bitcoin remained above $77,000 as Binance gradually restored withdrawal access after a security breach estimated to have affected more than $6.3 billion in cryptocurrency. The market showed resilience despite heavy exchange-traded fund redemptions and renewed uncertainty surrounding international tensions.
At 11:02 UTC on Monday, Bitcoin traded at $77,926, approximately 2% above its post-incident low, according to CoinGecko. Ether was changing hands at $2,285.83, indicating that both leading digital assets had stabilized considerably from the sharp weakness seen late the previous week.
Bitcoin Rebounds From the Weekend Low
The most significant decline came on Friday afternoon, Oct. 30. Data from Coinbase showed the BTC-USD market falling to $76,141 at 18:50 UTC. Bitcoin’s subsequent return to the upper-$77,000 range suggested that buyers were prepared to enter the market even while concerns about Binance remained widespread.
That response was notable because the security incident had created an unusually difficult backdrop. Investors were assessing the largest cryptocurrency theft ever reported while also reacting to major outflows from regulated U.S. investment products.
Binance Resumes Transfers Without a Disorderly Rush
Binance started restoring withdrawals in phases at 06:00 UTC on Sunday, Nov. 1. During the first nine and a half hours, customers withdrew $4.649 billion and deposited approximately $1.01 billion, producing a net outflow of about $3.64 billion.
The exchange said that amount represented roughly 2.1% of the $171 billion in customer assets listed in its Oct. 28 proof-of-reserves report. Although the initial volume was substantial, the flow did not develop into an uncontrolled rush for the exits.
Binance reported that withdrawals slowed and were settling at expected levels. The company also stated that market conditions remained stable, an effort to reassure customers that its systems could handle the renewed transfer activity.
The exchange has promised to absorb the losses through its Secure Asset Fund for Users, known as SAFU, together with corporate resources. That commitment appears to have helped prevent the incident from turning into a broader crisis involving customer balances.
ETF Selling Tested Bitcoin’s Support
Bitcoin’s ability to remain above its intraday low was especially striking because U.S. spot Bitcoin ETFs experienced $643.3 million in net outflows on Friday, based on SoSoValue data. The redemptions marked a sharp reversal after several sessions of positive flows.
BlackRock’s IBIT recorded the largest withdrawal at $233.7 million, while Fidelity’s FBTC saw investors remove approximately $201 million. Even with those products facing significant selling pressure, Bitcoin did not revisit the lower levels reached soon after Binance disclosed the breach.
Friday was also the first U.S. trading session after the incident became public following Thursday’s market close. American investors therefore had their first opportunity to adjust positions in real time, yet the selling failed to push Bitcoin into a deeper weekend decline.
North Korean Group Linked to the Attack
Blockchain intelligence companies TRM Labs and Chainalysis have placed the estimated losses above $6.3 billion and connected the operation to TraderTraitor, a hacking group associated with North Korea. The funds were reportedly taken through unauthorised movements across several blockchain networks.
The scale of the breach made it one of the most serious events in cryptocurrency’s history. However, the exchange’s decision to cover the damage and the freezing of some affected assets helped limit the immediate consequences for customers.
Geopolitical Risk Adds Another Layer
Binance’s recovery is unfolding alongside a separate risk for financial markets: the possibility of new U.S. action involving Iran. With Tuesday’s U.S. midterm elections approaching, traders are also watching the administration’s next steps on the issue.
Israeli Prime Minister Benjamin Netanyahu has reportedly encouraged President Donald Trump to authorize an attack on Iran after the vote. Trump has expressed less urgency, saying talks with Tehran were progressing and that he was not in a hurry.
Secretary of State Marco Rubio likewise said no final decision had been reached. As a result, cryptocurrency traders are entering the new week with two major sources of uncertainty: the aftermath of an record exchange breach and an unresolved foreign-policy situation.
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.