The Binance hack drama has now split people into three camps.
First, spot traders, who panicked and withdrew their coins overnight.
Santiment: Binance saw a net outflow of 28,316 BTC after the incident. On October 29 alone, 22,317 BTC and 320,000 ETH left.
Sentiment was even more extreme: positive comments fell to just 0.37 times the negative ones—the gloomiest on record.
Second, futures traders, who didn't budge.
BTC futures open interest is still at $8.97 billion, and ETH at $8.03 billion—not a penny lower.
Spot holders ran, but leveraged traders stayed. Are they really unafraid, or just unable to get out?
Third, Binance itself: on November 4, it said it had replenished 98%. On the first day withdrawals reopened, net outflows hit $3.64 billion.
Right now, $$BTC 76054, $$ETH 2249, and the price spent all night grinding around 76,000.
A: Everyone's withdrawn their spot holdings; there's nothing left to dump. 76,000 is the bottom.
B: There are still $8.97 billion in futures positions. If 75,500 breaks, 73,000 is next.
Which side are you on?
#币安 #比特币 #Withdrawals
First, spot traders, who panicked and withdrew their coins overnight.
Santiment: Binance saw a net outflow of 28,316 BTC after the incident. On October 29 alone, 22,317 BTC and 320,000 ETH left.
Sentiment was even more extreme: positive comments fell to just 0.37 times the negative ones—the gloomiest on record.
Second, futures traders, who didn't budge.
BTC futures open interest is still at $8.97 billion, and ETH at $8.03 billion—not a penny lower.
Spot holders ran, but leveraged traders stayed. Are they really unafraid, or just unable to get out?
Third, Binance itself: on November 4, it said it had replenished 98%. On the first day withdrawals reopened, net outflows hit $3.64 billion.
Right now, $$BTC 76054, $$ETH 2249, and the price spent all night grinding around 76,000.
A: Everyone's withdrawn their spot holdings; there's nothing left to dump. 76,000 is the bottom.
B: There are still $8.97 billion in futures positions. If 75,500 breaks, 73,000 is next.
Which side are you on?
#币安 #比特币 #Withdrawals