【Market Notes | The First Trading Day After Withdrawals Reopened】
Binance reopened withdrawals in phases. Over the weekend, the market didn’t see a “bank-run-style crash”; instead, it was choppy with a modest rebound.
A few figures that can be checked (Binance USDT-M futures, around 17:56 Beijing time on Nov. 1):
1) $BTCUSDT ≈ 78,070, up about 0.8% over 24 hours, trading roughly between 77,400 and 78,300 during the day.
2) $ETHUSDT ≈ 2,269, up about 1.1% over 24 hours, slightly outperforming BTC; $BNBUSDT ≈ 713, up about 1.4% over 24 hours.
3) Media estimates put weekend liquidations well below the peak on the day of the event (some data puts total futures liquidations across the market over the past 24 hours at around tens of millions of dollars). This suggests the “panic deleveraging” phase has temporarily passed. However, reports said spot Bitcoin ETFs still saw net outflows of around $643 million last Friday, so liquidity conditions at the start of November aren’t exactly loose.
My take:
Reopening withdrawal channels does more to calm nerves than any slogan. However, withdrawals are still queued in this first phase, and the zero-knowledge proof of reserves is not expected until around Nov. 3, so volatility won’t disappear overnight. I’m sticking to my usual approach—no leverage to bet on a “V-shaped” recovery, and no stopping my regular investments. First, I’ll review my withdrawal and security habits.
Market notes only; this is not investment advice.
$BTCUSDT $ETHUSDT
#行情 #DailyHotTopics
Binance reopened withdrawals in phases. Over the weekend, the market didn’t see a “bank-run-style crash”; instead, it was choppy with a modest rebound.
A few figures that can be checked (Binance USDT-M futures, around 17:56 Beijing time on Nov. 1):
1) $BTCUSDT ≈ 78,070, up about 0.8% over 24 hours, trading roughly between 77,400 and 78,300 during the day.
2) $ETHUSDT ≈ 2,269, up about 1.1% over 24 hours, slightly outperforming BTC; $BNBUSDT ≈ 713, up about 1.4% over 24 hours.
3) Media estimates put weekend liquidations well below the peak on the day of the event (some data puts total futures liquidations across the market over the past 24 hours at around tens of millions of dollars). This suggests the “panic deleveraging” phase has temporarily passed. However, reports said spot Bitcoin ETFs still saw net outflows of around $643 million last Friday, so liquidity conditions at the start of November aren’t exactly loose.
My take:
Reopening withdrawal channels does more to calm nerves than any slogan. However, withdrawals are still queued in this first phase, and the zero-knowledge proof of reserves is not expected until around Nov. 3, so volatility won’t disappear overnight. I’m sticking to my usual approach—no leverage to bet on a “V-shaped” recovery, and no stopping my regular investments. First, I’ll review my withdrawal and security habits.
Market notes only; this is not investment advice.
$BTCUSDT $ETHUSDT
#行情 #DailyHotTopics
