#Binance to resume withdrawals for more assets
The second batch of withdrawals opened at noon today, but the market didn’t cooperate.
Bull case:
Update #6 on the official security incident recovery said that withdrawals for more assets would gradually become available starting at 12:00 UTC+8 on 2026-11-03. The rollout is phased, not all at once, and covers BSC, Ethereum, Solana, XRP Ledger, Sui, Arbitrum, Optimism, Tron, and Base, prioritized according to user demand over the past week. Deposits are operating normally, and Binance will cover the stolen funds.
Outflows are cooling: figures from DefiLlama cited in a Square post showed net outflows of about $6.1 billion on Sunday, falling to about $2.57 billion on Monday. Another Square post cited analyst Murphy’s data: since withdrawals resumed on 11-01, Binance’s BTC balance has fallen from 732,000 to 711,000, an outflow of 21,064 BTC—less than 3% of its BTC reserves. On-chain reserves remain around $139.7 billion.
The attention itself is a form of validation: In the latest snapshot of Square’s homepage, the topic had 71,944 views and 330 people discussing it. The Fear and Greed Index stood at 33, still in fear territory.
Bear case:
The market hasn’t priced in the good news: Market data on the Square page showed BTC down 1.91% and ETH down 1.58%. Posts on the topic page put BTC at around 76,700, still hovering near 76,500. That suggests people care more about whether the funds have actually come back.
The second batch doesn’t mean everything is back to normal: The official announcement itself said the rollout would be gradual and that high traffic could cause delays initially. The next reserve snapshot is still pending. According to figures cited in a Square post, even after about 95% has been replenished, the remaining less-liquid assets are still being bought back over-the-counter. The trust issue hasn’t been resolved.
Outflows still exceed inflows: Slowing outflows don’t mean funds are flowing back in. The batch announced on 11-02, covering 15 networks and 28 fiat currencies, was about expanding access channels; this batch is about expanding the range of assets. Both have been implemented, yet the market remains weak. That’s not something a single announcement can turn around.
My take: Resuming withdrawals eases fears that funds can’t be withdrawn; it’s not a reversal signal. My $BTC view is unchanged: until it reclaims and holds 79,400, treat any move as a rebound and don’t add. If it breaks below 76,500, watch 75,000. My view is invalidated if BTC reclaims 79,400 on strong volume and holds for a day, or if the next reserve snapshot doesn’t add up or net outflows accelerate again.
Once the second batch is fully open, will you withdraw your funds to a cold wallet, or leave them on the exchange and wait for the market?
The second batch of withdrawals opened at noon today, but the market didn’t cooperate.
Bull case:
Update #6 on the official security incident recovery said that withdrawals for more assets would gradually become available starting at 12:00 UTC+8 on 2026-11-03. The rollout is phased, not all at once, and covers BSC, Ethereum, Solana, XRP Ledger, Sui, Arbitrum, Optimism, Tron, and Base, prioritized according to user demand over the past week. Deposits are operating normally, and Binance will cover the stolen funds.
Outflows are cooling: figures from DefiLlama cited in a Square post showed net outflows of about $6.1 billion on Sunday, falling to about $2.57 billion on Monday. Another Square post cited analyst Murphy’s data: since withdrawals resumed on 11-01, Binance’s BTC balance has fallen from 732,000 to 711,000, an outflow of 21,064 BTC—less than 3% of its BTC reserves. On-chain reserves remain around $139.7 billion.
The attention itself is a form of validation: In the latest snapshot of Square’s homepage, the topic had 71,944 views and 330 people discussing it. The Fear and Greed Index stood at 33, still in fear territory.
Bear case:
The market hasn’t priced in the good news: Market data on the Square page showed BTC down 1.91% and ETH down 1.58%. Posts on the topic page put BTC at around 76,700, still hovering near 76,500. That suggests people care more about whether the funds have actually come back.
The second batch doesn’t mean everything is back to normal: The official announcement itself said the rollout would be gradual and that high traffic could cause delays initially. The next reserve snapshot is still pending. According to figures cited in a Square post, even after about 95% has been replenished, the remaining less-liquid assets are still being bought back over-the-counter. The trust issue hasn’t been resolved.
Outflows still exceed inflows: Slowing outflows don’t mean funds are flowing back in. The batch announced on 11-02, covering 15 networks and 28 fiat currencies, was about expanding access channels; this batch is about expanding the range of assets. Both have been implemented, yet the market remains weak. That’s not something a single announcement can turn around.
My take: Resuming withdrawals eases fears that funds can’t be withdrawn; it’s not a reversal signal. My $BTC view is unchanged: until it reclaims and holds 79,400, treat any move as a rebound and don’t add. If it breaks below 76,500, watch 75,000. My view is invalidated if BTC reclaims 79,400 on strong volume and holds for a day, or if the next reserve snapshot doesn’t add up or net outflows accelerate again.
Once the second batch is fully open, will you withdraw your funds to a cold wallet, or leave them on the exchange and wait for the market?