Crypto · Weekly wrap

Bitcoin and crypto weekly wrap: Binance hack, ETF outflows and a weaker week for major coins

By VoxTradePro Desk · Published 1 Nov 2026, 12:28 UTC+8 · 3 min read

Bitcoin lost ground as a $6.3 billion Binance hack and record-sized ETF outflows weighed on crypto. Our weekly wrap covers prices, flows and what comes next.

The crypto market ended October on a defensive note. Bitcoin traded at about $77,680 at 04:22 UTC on Sunday 1 November, according to CoinGecko data collected by VoxTradePro, down about 3.9% over seven days. The total value of all cryptocurrencies stood near $2.63 trillion, about 2.1% lower than a day earlier, with Bitcoin's share of that total at roughly 59%.

The week was dominated by one event: a security breach at Binance, the world's largest crypto exchange by trading volume.

The Binance hack

On 29 October Binance disclosed a security incident that it later put at about $6.3 billion in affected assets, with roughly $3 billion frozen on-chain with the help of partners. CNBC described it as the largest crypto theft on record. Binance said its initial investigation pointed to a compromised engineer's laptop that gave an attacker access to a service container used to submit withdrawals, and that it had found no evidence of a private-key leak. Withdrawals were suspended while deposits continued to work.

The exchange said it would cover all losses from its SAFU emergency fund and company money. By Saturday it said it had restored backing for about 90% of the affected token assets, and CNBC reported that the FBI had attributed the theft to North Korea. Binance planned to begin restoring withdrawals in phases on 1 November, starting with major assets such as BTC, ETH, BNB, SOL and XRP.

Why does an exchange hack move the whole market? Large platforms sit at the centre of crypto trading and lending. When withdrawals freeze, traders cannot move collateral, market makers pull back and confidence drops. CNBC reported that Bitcoin fell more than 4% to around $78,000 on Friday as the news spread.

ETF flows turned negative

US spot Bitcoin exchange-traded funds had a strong start to the week, taking in about $441 million from Monday to Thursday. On Friday 30 October they recorded net outflows of $643.2 million, the largest one-day outflow since June, according to Farside Investors data cited by crypto.news. That turned the week negative by about $202 million and left October with net outflows of roughly $516 million.

ETF flows are a useful gauge of institutional demand, but they need careful reading. Friday was also month-end, when some funds rebalance, and an outflow does not mean the same amount of Bitcoin was sold on the open market that day. Even so, a reversal of that size during a hack-driven sell-off shows how quickly sentiment shifted.

How the major coins fared

Losses were broad but not dramatic. On the seven-day view in the VoxTradePro snapshot from 1 November:

Ethereum was near $2,266, down about 4.1%. Ether ETFs have seen persistent outflows in recent weeks.
BNB, Binance's own token, was near $704, down about 5.6%, a modest fall given the scale of the incident.
XRP was near $1.25, down about 4.7%.
Solana was near $95, down about 6.6%, the weakest of the large coins.

Stablecoins held their dollar pegs, and their large share of total market value is a sign that some investors are waiting on the sidelines rather than leaving crypto altogether.

What to watch this week

Binance withdrawals. A smooth, phased restart would remove a major source of uncertainty. Delays or new problems would likely weigh on prices again.
ETF flows on Monday and Tuesday. Whether Friday's outflows continue or reverse will show if institutions see the sell-off as temporary.
US midterm elections on 3 November. Results could shape the outlook for US crypto regulation.
US jobs report on 6 November. The Federal Reserve held rates on 28 October but two officials voted for a hike. Strong jobs data would support the case for tighter policy, which has tended to weigh on risk assets, including crypto.

Bottom line

The week showed that crypto still reacts strongly to problems at its biggest platforms, even when losses are covered. Bitcoin is holding in the mid-$70,000s for now. Our Bitcoin price page has the live chart and technical gauge, and the crypto market overview tracks the top 50 coins. Crypto assets are highly volatile, and prices can move sharply in either direction.

Sources

Not financial advice. This article is for general information and education only. It is not a recommendation to buy, sell or hold any asset. Prices move quickly and figures quoted may already be out of date; markets involve risk, including the loss of capital. See our disclaimer.

Related markets: Bitcoin Ethereum BNB Solana XRP