Reuters: The fallout from Binance’s $6.3 billion hack continues to undermine confidence in centralized crypto exchanges. According to Binance co-CEO Richard Teng, outflows following the incident have returned to normal, and 95% of affected tokens have been recovered. Customers withdrew about $4.72 billion, roughly 3% of the platform’s assets. Binance says it will cover the losses with its own funds and the SAFU reserve. This reduces the risk of an immediate liquidity crisis, but does not remove the key question: How reliable is the infrastructure of the world’s largest exchange after an incident like this?

Reuters: Bitcoin rebounded after falling to a six-week low, but the recovery still looks limited. On Wednesday, BTC gained about 0.7% to reach $78,354, while Ethereum rose 1.4% to $2,323. U.S. stock futures and a weaker dollar supported the market. However, cryptocurrencies remain under pressure after losing about $300 billion in total market capitalization over the past month. A one-day rebound is not enough to signal a trend change.

MarketWatch: Cryptocurrencies recovered alongside other risk assets as the dollar weakened. Bitcoin climbed back above $78,000 after falling below $76,000, while Ethereum also recouped some of its losses. This suggests the crypto market remains tied to sentiment in equity markets. For now, however, the move looks more like a technical rebound after a sell-off than a confirmed return of significant capital.

CoinDesk: Outflows from U.S. Bitcoin ETFs added to market pressure following the Binance hack. The funds lost about $515 million in October, and on Friday, October 30, investors withdrew approximately $643 million in a single session. The picture is even weaker for Ethereum ETFs: monthly outflows reached a record $1.61 billion. This is an important signal: institutional demand, which previously supported the market, is currently not offsetting selling pressure.

The Block: Strategy acquired another 811 BTC for $65.5 million, increasing its reserves to 849,327 bitcoins. The purchases took place from October 26 to November 1 at an average price of about $80,846 per coin. The company continues to accumulate Bitcoin despite the market correction and ETF outflows. This confirms that long-term institutional demand has not disappeared, although it is not yet strong enough to turn the market around on its own.

The Block: Binance is continuing to rebuild trust by confirming its reserves and replenishing affected assets. The exchange announced a new Proof of Reserves snapshot and said that users’ main assets are backed at a 1:1 ratio. According to the company, most of the affected assets have already been restored. This is a positive step for the market, but fully restoring its reputation will require a transparent investigation into the cause of the hack and proof that the vulnerability has been fixed.

Reuters: Investors continue to factor in several sources of risk at once—costly borrowing, uncertainty surrounding artificial intelligence, and crypto security issues. These factors are acting simultaneously and making market participants less willing to increase their positions in high-risk assets. For Bitcoin, this means that even good news may provide only a short-term boost while overall demand remains weak.

CONCLUSION

Over the past 24 hours, the crypto market has found some relief, but no convincing basis for a reversal.

Political uncertainty following the U.S. elections has compounded the fallout from the largest Binance hack. ETF outflows show that institutional capital is not yet rushing back. Strategy’s purchases are a positive signal, but for now they represent an isolated source of demand rather than a broad market recovery.

Bitcoin rebounded from below $76,000 and returned to $78,000. The key now is whether the price can hold above $80,000. Until that happens, the rise remains a corrective move within a weak structure.

The main risk is another wave of selling if the $76,000–77,000 zone is lost. To improve the outlook, buyers need to reclaim $80,000 and then confirm a move above the nearest resistance. Until then, the market remains cautious.

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