Five days after the Binance hack, the real test wasn’t the exploit — it was the withdrawal run that followed.
After reopening, Nov. 1–2 saw massive net outflows: 25,793 BTC, 273K ETH, $3.75B USDT and $1.33B USDC — the largest yearly outflows for each asset.
But the panic proved short-lived.
By Nov. 3, ETH, USDT and USDC had returned to net inflows, while BTC outflows had slowed significantly to just 3,640 BTC.
The market reaction has also remained surprisingly contained.
BTC is down 3.8% since the hack, placing the drawdown around the middle of the range compared with 38 major exchange hacks since 2014.
Now, Bitcoin is testing a key technical zone:
▸ 365-day MA: $76.9K
▸ 200-day MA: $73.2K
The biggest story here is resilience.
A record-scale withdrawal shock hit the exchange, but confidence began recovering within days — and BTC’s price damage remains far smaller than many historic exchange-hack events.
The next question is whether the $76.9K zone can hold. A failure there could put the 200-day MA near $73.2K firmly in focus.
Not financial advice. DYOR.
After reopening, Nov. 1–2 saw massive net outflows: 25,793 BTC, 273K ETH, $3.75B USDT and $1.33B USDC — the largest yearly outflows for each asset.
But the panic proved short-lived.
By Nov. 3, ETH, USDT and USDC had returned to net inflows, while BTC outflows had slowed significantly to just 3,640 BTC.
The market reaction has also remained surprisingly contained.
BTC is down 3.8% since the hack, placing the drawdown around the middle of the range compared with 38 major exchange hacks since 2014.
Now, Bitcoin is testing a key technical zone:
▸ 365-day MA: $76.9K
▸ 200-day MA: $73.2K
The biggest story here is resilience.
A record-scale withdrawal shock hit the exchange, but confidence began recovering within days — and BTC’s price damage remains far smaller than many historic exchange-hack events.
The next question is whether the $76.9K zone can hold. A failure there could put the 200-day MA near $73.2K firmly in focus.
Not financial advice. DYOR.
