👀 Binance resumes withdrawals today, and this is the real wildcard for the weekend
Here's what happened: After the shock of the roughly $6.3 billion theft on October 29, Binance said it had replenished 90%. Ten major coins, including BTC, ETH, SOL, and BNB, are now 100% fully backed. Withdrawals will resume in phases starting today, November 1, and Binance is still buying to make up the remaining 10%.
📌 The market takeaway: cautious in the short term, but not expecting a crash
$BTC is currently at $77,438, up 0.61% in 24 hours. The low of $76,320 held—it's good news that it didn't break below that level.
$ETH is currently at $2,251.1, up 0.71% in 24 hours. The $2,200 level is holding.
$SOL is currently at $95.40, down 0.48% in 24 hours. It is still moving sideways.
BNB is currently at $702.56, up 0.30% in 24 hours.
💡 My take: The resumption of withdrawals is a sign the bleeding has stopped, not a signal that prices are about to take off.
First, watch $80,000 above. A move back above that level would signal a genuine return to strength. If $76,320 holds below, the market still has a chance to move higher.
⚡️ One risk worth mentioning: Spot Bitcoin ETFs saw net outflows of $643 million on Friday. Institutional investors haven't fully returned yet, so don't chase the rally.
Data as of 7:10 this morning (TradingView)
Are you bullish or bearish today? Tell us in the comments 👇
For informational purposes only; this is not investment advice.
Here's what happened: After the shock of the roughly $6.3 billion theft on October 29, Binance said it had replenished 90%. Ten major coins, including BTC, ETH, SOL, and BNB, are now 100% fully backed. Withdrawals will resume in phases starting today, November 1, and Binance is still buying to make up the remaining 10%.
📌 The market takeaway: cautious in the short term, but not expecting a crash
$BTC is currently at $77,438, up 0.61% in 24 hours. The low of $76,320 held—it's good news that it didn't break below that level.
$ETH is currently at $2,251.1, up 0.71% in 24 hours. The $2,200 level is holding.
$SOL is currently at $95.40, down 0.48% in 24 hours. It is still moving sideways.
BNB is currently at $702.56, up 0.30% in 24 hours.
💡 My take: The resumption of withdrawals is a sign the bleeding has stopped, not a signal that prices are about to take off.
First, watch $80,000 above. A move back above that level would signal a genuine return to strength. If $76,320 holds below, the market still has a chance to move higher.
⚡️ One risk worth mentioning: Spot Bitcoin ETFs saw net outflows of $643 million on Friday. Institutional investors haven't fully returned yet, so don't chase the rally.
Data as of 7:10 this morning (TradingView)
Are you bullish or bearish today? Tell us in the comments 👇
For informational purposes only; this is not investment advice.