Nov 1, 2026, 11:42 p.m. EST
2 min read
Summary
- Bitcoin increased approximately 1 percent to about $78,600 during Monday morning hours in Asia, registering its third successive day of gains alongside recoveries in Asian equities and U.S. stock futures.
- Digital asset prices found stability following Binance’s revelation of a $6.3 billion exploit last week, representing the biggest exchange theft in history.
- Market participants are monitoring technology equities and the upcoming U.S. midterm elections for direction, while persistent high interest rates might create headwinds for cryptocurrencies in the months ahead, according to an executive at BTSE.
Bitcoin advanced roughly 1% to reach approximately $78,600 during Monday morning sessions in Asia, marking three consecutive days of upward movement as Asian traders re-engaged with risk following the prior Friday’s sell-off in U.S. technology stocks.
ZEC paced the major digital assets by gaining 3% to trade near $1,280. Ether and BNB both advanced nearly 2%, placing ether slightly above $2,300 and BNB near $713, whereas XRP and TRX both gained about 1%. SOL underperformed, showing virtually no change around $95, according to data from CoinDesk.
The week begins on a calmer note after Binance reported a $6.3 billion security breach last week—the largest crypto exchange theft ever recorded—which initially drove prices downward. Bitcoin dropped to approximately $77,600 late Sunday before buyers drove it back past $78,500 within the span of a few hours.
Equity markets are experiencing a bounce as well. The Nasdaq 100 fell 3.5% on Friday for its worst performance since June, and the Philadelphia Semiconductor Index, which follows U.S. chip manufacturers, dropped 7%. On Monday, futures contracts for the S&P 500 and Nasdaq 100 rose by at least 0.4%.
Key indexes also climbed in South Korea, Hong Kong, and Japan, while Chinese equities moved upward following reports that financial regulators would meet with banks and brokerages on Monday to evaluate measures for supporting the market.
Brent crude dropped 3% to approximately $110 per barrel after reports indicated President Donald Trump intends to afford diplomacy with Iran more time prior to potentially restarting military actions following Tuesday’s midterms. Gold climbed roughly 1% to about $3,910 per ounce, recovering from its lowest settlement point in over a year recorded on Friday.
“We believe that given last week’s Fed commentary, macro pressures will continue to keep interest rates high, which will weigh on liquidity for Bitcoin and other cryptocurrencies over the next few months,” stated Jeff Mei, chief operating officer at digital asset exchange BTSE, in an email statement to CoinDesk.
“This week we’ll be watching closely to see if tech stocks will rebound or continue their decline from last week. A small rebound may indicate that we’ve already hit the bottom and could present a potential buying opportunity for Bitcoin, which is trading below the $80k mark,” Mei noted.
The CLARITY Act represents the proposed legislation that would establish guidelines for regulating U.S. crypto markets, designating which regulatory body supervises specific tokens.
Polling stations shut across the United States on Tuesday evening, meaning that election outcomes will begin emerging throughout Wednesday’s Asian trading sessions.
“Additionally, US midterm elections this week are likely to have a major impact on markets. While the Democrats are against the CLARITY act, their party winning a majority in Congress could force the Iran conflict to an earlier end, lowering oil prices and inflationary pressures, causing stocks and crypto to rebound,” Mei further commented.
Originally published at https://www.coindesk.com/markets/2026/11/02/bitcoin-claws-back-toward-usd79-000-as-markets-shake-off-crypto-s-biggest-hack.
