News
The day at a glance · 3 min read
Mood · Cautious
-25
Sentiment, −100 to +100
BTC Recovery Level
$79,000
Binance Hack Amount
$6.3B
Leveraged Liquidations
$1.53B24h
Key driverBitcoin stabilizing after Binance security breach that drained $6.3 billion, though exchange outflows and ETF withdrawals persist
Daily briefCrypto & Web3· Money365.Market AI ·

Bitcoin Rebounds from Binance Hack as Outflows Continue

BTC recovers toward $79,000 as exchange sees $6 billion in withdrawals; ETFs post $643 million outflow after security breach

Crypto Market Overview

Neutral
01
Bitcoin has clawed back toward $79,000 as markets began shaking off the impact of the largest cryptocurrency heist in history, which saw approximately $6.3 billion drained from multiple Binance wallets. The exchange has pledged to cover customer losses, helping contain fears of broader contagion across the crypto ecosystem. Around $1.53 billion in leveraged positions were liquidated over 24 hours as forced liquidations accelerated the initial selloff. Improving sentiment around US-Iran negotiations provided additional support, with Iran's proposal to reopen the Strait of Hormuz reducing some geopolitical risk premium weighing on markets.

Exchange Flows & Security

Bearish

Binance Outflows

$6-7B

OKX Inflows

$445M

Coldcard Theft Amount

$100M
01
Binance recorded approximately $6 billion in outflows after resuming withdrawals following the security breach, representing less than 4% of the exchange's total holdings. OKX led cryptocurrency exchanges with $445 million in daily net inflows as users shifted funds away from the compromised platform, while Binance processed approximately $7 billion in total net outflows. The incident raised broader concerns about exchange security across the industry, with BTCPay Server separately warning operators to shut down their servers after receiving reports of unauthorized attackers draining funds from hot wallets running outdated software. Trezor announced it is lifting password ceiling restrictions, citing July's Coldcard attacks in which strong passphrases helped protect some users whose wallet recovery information was compromised in $100 million in thefts.

Bitcoin & Ethereum ETFs

Bearish

October BTC ETF Outflows

$515M

Friday BTC ETF Outflows

$643M

October ETH ETF Outflows

$1.61BRecord
01
US spot Bitcoin ETFs ended October with $515 million in net withdrawals, marking a shift from earlier momentum as the Binance security breach weighed on investor sentiment. ETFs lost $643 million in outflows on Friday alone as the hack news triggered risk-off behavior among institutional investors. Ether ETFs posted a record $1.61 billion in monthly outflows during October, reflecting broader weakness across crypto investment products. Bitcoin price action held its 100-day moving average into the monthly close as crypto markets braced for US midterm election and tech earnings volatility.

Regulation & Policy

Neutral

HSBC RedCoin Users

50,000

Copper-Backed Tokens

25 tonnes
01
Hong Kong's HKMA plans to bring regulated stablecoins into tokenized government debt trials while moving tokenized settlement to 24/7 operations, as HSBC reported its RedCoin stablecoin has reached 50,000 users. China's Communist Party called for a crackdown on corruption that uses crypto and blockchain, maintaining the country's restrictive stance on digital assets. Metals.io issued tokens backed by 25 tonnes of physical copper stored in Germany, representing continued expansion of real-world asset tokenization.

Looking Ahead

Neutral

BTC Resistance

98,000

BTC Support

75,000
RIOT
01
Markets are focused on the US midterm elections and a packed economic calendar this week, with the ISM Manufacturing PMI, Job Openings data, ADP report, ISM Services PMI, Jobless Claims, and NFP report all scheduled.
02RIOT▼ -6.77%
Riot Platforms ($RIOT), Block, and Circle are set to report Q3 earnings this week, with Cash App, USDC reserves, and Bitcoin mining revenue facing investor scrutiny. Technical resistance sits at a downward trendline near the 98,000 level, with support at 75,000 defining the current trading range. A breakthrough in US-Iran negotiations, dovish Fed comments, or a surprising result in the midterm elections could shift the current bearish trend.

Important Disclaimer — Not Investment Advice

Disclaimer: This article is provided by Money365.Market for general information and educational purposes only. It is not financial advice, a personal recommendation, or an inducement to buy, sell, or invest in any security or product. Capital is at risk and the value of investments can go down as well as up; past performance does not indicate future results. You should seek independent advice from an FCA-authorised adviser before making any financial decision.

Cryptoassets are high risk and largely unregulated. Do not invest unless you are prepared to lose all the money you put in. Prices are extremely volatile, and you should not expect protection from the UK Financial Services Compensation Scheme or the Financial Ombudsman Service if something goes wrong.

Read the full disclaimer — 8 further points, including total-loss risk, our regulatory status and conflicts of interest

Nothing here is an offer or a solicitation to buy or sell anything, and reading it creates no advisory or fiduciary relationship between you and Money365.Market. Any decision you take is your own.

  • You can lose money — including all of it. Individual companies can and do fail, and some of the assets discussed can fall to zero. Only commit money you can afford to lose, and never borrow to invest on the strength of anything you read here.
  • Forecasts are opinion, not fact. Any valuation model, scenario, fair-value range, estimate or other forward-looking statement is illustrative, rests on assumptions that may prove wrong, and is never a price target, a forecast of actual outcomes, or a promise of any return.
  • Published at a point in time. Figures were believed accurate on the publication or last-updated date shown above and are not maintained afterwards; we are under no obligation to update them. Market and company data comes from third-party sources and is provided without warranty of accuracy, completeness or timeliness.
  • Automated content. This brief was compiled by an automated pipeline from validated news and market-data sources and passed through editorial and compliance checks. Automated content can still contain errors — verify anything you intend to rely on.
  • We are not regulated. Money365.Market is not authorised or regulated by the UK Financial Conduct Authority, is not registered with the U.S. Securities and Exchange Commission or FINRA as an investment adviser or broker-dealer, and is not a tax adviser. We hold no licence to give personal financial advice and do not do so.
  • Interests and independence. Money365.Market is not affiliated with, endorsed by or sponsored by any company, fund, exchange or platform mentioned, and is not paid to feature them. The author may hold positions in securities or assets discussed. The site earns revenue from advertising, subscriptions and, where labelled, affiliate links; this does not influence what we publish.
  • Your jurisdiction matters. Tax treatment, contribution limits, product availability and investor protections differ by country and can change. Speak to a qualified tax professional for tax matters, and to a locally licensed adviser if you are outside the UK.

Full terms: Disclaimer · Terms of Service · Privacy Policy