Bitcoin edges up to $77,865 as Binance reopens withdrawals, November 1, 2026
Bitcoin rose 0.6% to about $77,865 as Binance began reopening withdrawals after its $6.3 billion hack, while Fear & Greed sat at 51.
Crypto was little changed on November 1, with Bitcoin at about $77,865, up 0.6% over 24 hours. Ether gained the same 0.6% to roughly $2,264, and BNB rose 0.7% to about $708. The broader picture was mixed: TRX climbed 2.6%, while LINK fell 3.4% and SOL slipped 1.3%. XRP was flat near $1.25.
The fallout from the roughly $6.3 billion Binance hack still dominates the news flow. Bitcoin.com News said Bitcoin traded between $76,337 and $81,840 over the past week, and that it closed October down 7.32%, its weakest October since 2014.
Binance reopens, money moves out
According to The Defiant, Binance has started reopening withdrawals, beginning with Bitcoin. The exchange says it has replenished about 95% of the affected amount, with less-liquid tokens making up the other 5%. Co-CEO Richard Teng earlier said, per Wu Blockchain, that attackers used self-destruct mechanisms to hide their traces and used EIP-7702 to gain control of a hot wallet. He had set a target of restoring service within 40 hours.
BeInCrypto, citing Whale Alert, reported about $2 billion in BTC, ETH and stablecoins left Binance within roughly three hours of the reopening. That included 10,000 BTC and nearly $1 billion in USDT. BeInCrypto noted it is unclear whether this is real selling or funds being shifted between wallets.
U.Today offers a different angle on the freeze. It reported that Bitcoin on Coinbase has traded at a yearly-high discount to other venues, as the Binance freeze reportedly traps liquidity and disrupts arbitrage. That story describes the freeze as ongoing, so its timing may predate the reopening reported by The Defiant.
Stolen funds keep moving
Chainalysis said, per The Defiant, that a Tron-based laundering operation drained about $500 million across more than 1,000 addresses and over 3,000 deposits. Those proceeds have since reached Solana. Lookonchain reported the hacker is swapping 970,522 SOL (about $95.9 million) for BTC through Relay Protocol, with 486,970 SOL (about $46.4 million) moved in the past hour.
Lookonchain also said the hacker has sold more than 130 altcoins on EVM chains, receiving about 123,400 ETH (around $277.26 million) and 1.69 million USDC. Bitcoin.com News, citing blockchain investigators, said about $296 million in XRP left five Binance wallets in roughly four minutes. Ripple froze stolen RLUSD, and Binance says its XRP customer balances are fully backed.
Mood and what to watch
The Fear & Greed index read 51 (Neutral), down from 52 the day before. The sources did not include a poll. CryptoSlate pointed to about $643 million in Bitcoin ETF outflows and rising derivatives exposure as headwinds for the recovery.
Traders are watching Bitcoin demand ahead of the November 6 payrolls report, according to CryptoSlate. U.Today suggests tracking exchange price spreads while the freeze effects linger. Further moves of the stolen funds, and whether Binance outflows continue, are the other open questions.
On policy, Wu Blockchain reported that China's Communist Party, in a resolution from the Fifth Plenary Session on October 29, called for a crackdown on corruption involving virtual currencies, cross-border capital and blockchain. No specific market measure was named. CryptoSlate also noted the Bank of Japan will sell its ETF holdings about 2.6 times faster, which may matter for risk sentiment.
Sources
- Binance Begins Reopening Withdrawals With Bitcoin After $6.3 Billion Hack The Defiant
- Binance-Hack Launderers Reach Solana After Draining $500 Million on Tron, Chainalysis Says The Defiant
- China’s Communist Party Calls for Crackdown on Corruption Using Crypto and Blockchain Wu Blockchain
- Bitcoin’s recovery faces rising derivatives exposure and $643 million in ETF outflows CryptoSlate
- Why Coinbase Bitcoin Discount Just Hit a Yearly High U.Today
- Bitcoin’s ‘Uptober’ Goes Bust With Worst October Finish Since 2014 Bitcoin.com News
- Japan’s central bank will sell ETFs 2.6 times faster and could still take 43 years to exit CryptoSlate
- The Binance hacker is swapping the stolen 970,522 $SOL ($95.9M) for $BTC Lookonchain
Written with AI assistance from the sources above and checked against them. Not investment advice.