Bitcoin Eases to $77,900 as Binance Users Pull $3.6 Billion

Nov 2, 2026, 6:30 a.m. EST

3 min read

Summary

Binance reported it has replenished about 95% of the $6.3 billion that was stolen, while the FBI formally linked the breach to North Korea’s TraderTraitor collective.
Thorchain dropped 6.4%, marking the steepest decline in the CoinDesk 100, following calls from the FBI, Secret Service, and IRS Criminal Investigation for node operators to blacklist addresses connected to the hackers.
Market participants are turning their attention to Apple’s earnings report, Tuesday’s United States midterm elections, and Friday’s employment data, with Nasdaq-100 futures advancing 0.8% and Brent crude sliding 4%.

Bitcoin BTC $77,796.38 declined 0.4% to hover near $77,900 since midnight UTC, after earlier touching $78,700 during Asian trading hours. Ether ETH $2,283.02 climbed 0.5%, whereas the CoinDesk Memecoin Index retreated 1.9%.

Binance initiated phased withdrawals on Sunday, handling $4.65 billion in payouts against $1.01 billion in inflows, resulting in a net outflow of $3.64 billion, according to the platform. The firm has now compensated roughly 95% of the $6.3 billion taken in the breach, and the FBI officially attributed the exploit to the North Korean TraderTraitor network.

U.S. spot bitcoin exchange-traded funds experienced $643 million in redemptions on Friday, marking their largest single-day outflow since June and wiping out four days of prior gains, data from Farside Investors shows.

Nasdaq-100 futures increased 0.8% following a 2% weekly retreat, while Brent crude dropped 4% to approximately $109 after U.S. Secretary of State Marco Rubio indicated that President Donald Trump aims for a peaceful resolution to the conflict with Iran. Traders are now monitoring Apple’s upcoming earnings announcement, Tuesday’s U.S. midterm elections, and Friday’s jobs report.

Derivatives positioning

Churn, not positioning: Total crypto futures activity surged 56% over a 24-hour window to reach $111.8 billion, though open interest remained virtually unchanged around $137.1 billion, pointing to market churn rather than new positioning. Liquidations of leveraged positions jumped 77% to $140.2 million, and market orders showed a near-even split between buying and selling with a minor bias toward the sell side.
BNB exits: Open interest for Binance’s BNB asset dropped 5.31% alongside a 1.12% decrease in value, indicating that participants closed positions and capital left the asset even as Binance resumed withdrawal services in stages. Funding rates remain positive, meaning long positions compensate short positions.
NEAR leads losses: NEAR decreased by 5.93%, recording the worst performance on the index. Futures open interest declined 4.84%, tracking the asset price drop closely and suggesting the downward movement stems more from valuation changes than traders abandoning positions. Liquidations totaled $3.23 million, a high figure relative to its market capitalization, while positive funding rates indicate longs pay shorts and its cumulative volume delta ranks as the weakest among major coins.
BTC, ETH stuck: Trading activity expanded 37% for bitcoin BTC $77,796.38 and 83% for ether ETH $2,283.02, yet open interest stayed flat. Bitcoin open interest held steady alongside an unchanged price, and ether open interest remained level while its price added 0.74%, confirming a lack of fresh capital inflows. Funding rates for both tokens stay positive, requiring longs to pay shorts.
Puts lead BTC options: On Deribit, the three most active bitcoin options contracts over the prior 24 hours were all put options, spearheaded by the $58,000 put expiring on November 27, which sits far below the spot value near $78,000. The 25-delta skew, indicating the premium of puts over calls, surged in the wake of the Binance security breach before easing down, though puts continue to command higher prices than calls.
ETH calls on top: Ether options trading displayed mixed activity, featuring an even split of three call contracts and three put contracts among the most heavily traded, led by the $2,650 call expiring November 6. Skew metrics reflect trends comparable to those seen in bitcoin.

Token talk

Thorchain (RUNE), a decentralized cross-chain protocol, suffered the steepest drop within the CoinDesk 100, sliding 6.4% as the FBI, Secret Service, and IRS Criminal Investigation encouraged node operators to block wallets tied to the Binance hackers, despite co-founder JP Thor speaking out against locking funds. The asset has shed approximately 17% over the last 24 hours.
Only a small selection of coins advanced on Monday, led by monero (XMR) up 1.7% and zcash (ZEC) gaining 1.4%, while tron TRX $0.3162 added 1.0% even after onchain researcher SomaXBT tracked roughly $242 million of the stolen Binance assets moving through its network.
Artificial intelligence-associated tokens continued to slide, with grass GRASS $0.5748 falling 4.5%, near NEAR $4.1234 losing 4.0%, and kite KITE $0.1182 declining 3.3%, despite the rise in Nasdaq-100 futures.
Official Trump (TRUMP), a memecoin associated with President Donald Trump, dropped 4.2% on the eve of the U.S. midterm elections ahead of the project’s planned dinner for leading holders on November 22.
CoinMarketCap’s altcoin season barometer sits at 46 out of 100, declining from the pre-hack peak of 60 out of 100 recorded the prior week.