Key Takeaways
- • Bitcoin fell 0.4% to around $77,900 since midnight UTC after briefly touching $78,700 in the Asian morning, according to CoinDesk, as Binance customers pulled a net $3.64 billion after the exchange reopened withdrawals on Sunday.
- • Binance processed $4.65 billion of withdrawals against $1.01 billion of deposits and says it has covered around 95% of the $6.3 billion stolen in a hack the FBI attributed to North Korea's TraderTraitor group.
- • U.S. spot bitcoin ETFs lost $643 million on Friday, their largest daily outflow since June, erasing four days of inflows, per Farside Investors.
- • Thorchain (RUNE) was the biggest loser in the CoinDesk 100, falling 6.4%, after the FBI, Secret Service and IRS Criminal Investigation urged node operators to block addresses linked to the hackers.
- • Crypto futures volume jumped 56% to $111.8 billion over 24 hours while open interest held roughly flat at $137.1 billion, indicating churn rather than new positioning.
Summary
Bitcoin traded near $77,900 on Monday, November 2, 2026, down 0.4% since midnight UTC, after briefly touching $78,700 in the Asian morning, according to CoinDesk. Ether gained 0.5% to around $2,283, while the CoinDesk Memecoin Index lost 1.9%.
The dominant story remains the fallout from the Binance hack. Binance began phased withdrawals on Sunday, processing $4.65 billion of withdrawals against $1.01 billion of deposits, a net outflow of $3.64 billion, the exchange said. Binance has now covered around 95% of the $6.3 billion stolen, and the FBI formally attributed the theft to North Korea's TraderTraitor group. Onchain analyst SomaXBT traced around $242 million of the stolen funds through the Thorchain network. Thorchain (RUNE), a cross-chain swap protocol, fell 6.4% and lost roughly 17% over 24 hours after the FBI, Secret Service and IRS Criminal Investigation urged node operators to block addresses linked to the hackers. Co-founder JP Thor argued against freezing funds. OI on Binance's BNB token fell 5.31% against a 1.12% price drop, indicating traders closed positions as withdrawals resumed.
Institutional flows softened. U.S. spot bitcoin ETFs lost $643 million on Friday, their largest daily outflow since June, according to Farside Investors. Derivatives data showed heavy turnover without fresh positioning: crypto futures volume rose 56% to $111.8 billion over 24 hours, but open interest held largely steady at $137.1 billion. Liquidations rose 77% to $140.2 million. On Deribit, the three most traded bitcoin options were all puts, led by the $58,000 put expiring Nov. 27, and the 25-delta skew spiked after the hack before cooling, though puts remain pricier than calls.
Macro traders are focused on several events this week: Apple's earnings after the bell Monday, Tuesday's U.S. midterm elections, and Friday's jobs report. Nasdaq-100 futures rose 0.8% after a 2% weekly drop, while Brent crude fell 4% to around $109 after Secretary of State Marco Rubio said President Donald Trump wants to resolve the Iran war peacefully. CoinMarketCap's altcoin season index stands at 46/100, down from a pre-hack high of 60/100.
The dominant story remains the fallout from the Binance hack. Binance began phased withdrawals on Sunday, processing $4.65 billion of withdrawals against $1.01 billion of deposits, a net outflow of $3.64 billion, the exchange said. Binance has now covered around 95% of the $6.3 billion stolen, and the FBI formally attributed the theft to North Korea's TraderTraitor group. Onchain analyst SomaXBT traced around $242 million of the stolen funds through the Thorchain network. Thorchain (RUNE), a cross-chain swap protocol, fell 6.4% and lost roughly 17% over 24 hours after the FBI, Secret Service and IRS Criminal Investigation urged node operators to block addresses linked to the hackers. Co-founder JP Thor argued against freezing funds. OI on Binance's BNB token fell 5.31% against a 1.12% price drop, indicating traders closed positions as withdrawals resumed.
Institutional flows softened. U.S. spot bitcoin ETFs lost $643 million on Friday, their largest daily outflow since June, according to Farside Investors. Derivatives data showed heavy turnover without fresh positioning: crypto futures volume rose 56% to $111.8 billion over 24 hours, but open interest held largely steady at $137.1 billion. Liquidations rose 77% to $140.2 million. On Deribit, the three most traded bitcoin options were all puts, led by the $58,000 put expiring Nov. 27, and the 25-delta skew spiked after the hack before cooling, though puts remain pricier than calls.
Macro traders are focused on several events this week: Apple's earnings after the bell Monday, Tuesday's U.S. midterm elections, and Friday's jobs report. Nasdaq-100 futures rose 0.8% after a 2% weekly drop, while Brent crude fell 4% to around $109 after Secretary of State Marco Rubio said President Donald Trump wants to resolve the Iran war peacefully. CoinMarketCap's altcoin season index stands at 46/100, down from a pre-hack high of 60/100.
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