Bitcoin traded around $78,021 on November 2, after Binance reopened withdrawals and customers recorded large net outflows.

BTC’s recovery from around $76,500 followed a session on October 30 in which $643.33 million flowed out of U.S. spot Bitcoin ETFs.

TOP STORIES

• Binance is restoring withdrawals in phases following the October 29 attack.

• IBIT, FBTC, and ARKB recorded the largest net outflows among the funds listed on October 30.

• Bitcoin is still trading below the $80,000–$80,300 range.

Binance restores withdrawals after attack

Binance began restoring withdrawal functionality in phases on November 1, following the October 29 attack. The exchange first reopened some networks and assets, then restored additional services after completing security checks.

Between 06:00 and 15:30 UTC on November 1, withdrawals from Binance exceeded deposits by approximately $3.64 billion. Binance said it would absorb the losses from the attack.

Metric Value Time period or range Withdrawals $4.649 billion 06:00–15:30 UTC on November 1 Deposits $1.01 billion 06:00–15:30 UTC on November 1 Net withdrawals Approximately $3.64 billion 06:00–15:30 UTC on November 1 Net withdrawals $4.72 billion Since reopening, as of the November 2 report

According to Reuters, a Binance spokesperson confirmed that customers had withdrawn a net $4.72 billion since the exchange reopened, as of the November 2 report.

U.S. spot Bitcoin ETFs see $643.33 million in net outflows

U.S. spot Bitcoin ETFs recorded total net outflows of $643.33 million on October 30, according to SoSoValue data. The funds' total assets stood at $98.14 billion.

Fund Net outflows on October 30 BlackRock IBIT $233.70 million Fidelity FBTC $201.04 million ARK & 21Shares ARKB $129.55 million

Source: SoSoValue

Outflows from ETFs reflect reduced exposure to Bitcoin through these investment products, but the data does not explain why investors withdrew their funds. The next U.S. trading sessions will show whether the net outflow trend continues into November.

Bitcoin rebounds but remains below $80,000

Bitcoin rebounded from around $76,500 on Friday to nearly $78,021 as of November 2, down 0.43% for the session. The price ranged from around $77,603 to $78,878 during the day.

BTC price level Movement $76,500 Recent low range $77,603 November 2 intraday low $78,021 Price at the time of reporting $78,878 November 2 intraday high $80,000–$80,300 Range near short-term moving averages

Source: TradingView

If Bitcoin breaks above $78,900, it would rise above the day's high and approach the $80,000–$80,300 range. On the downside, the price levels mentioned are around $77,600 and $76,500.

Summary

Bitcoin rebounded to nearly $78,000 as Binance reopened withdrawals, while outflows from the exchange and U.S. spot Bitcoin ETFs remain developments to watch.

Source: https://tintucbitcoin.com/bitcoin-giu-gan-78-000-usd-khi-binance-mo-lai-rut-tien-sau-vu-hack/

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