Bitcoin was trading near $78,000 on November 2, holding above the lows recorded on the previous Friday. The price was reported at approximately $78,021, down 0.43% in the session.
Binance withdrawal activity
Binance began restoring withdrawals on November 1 after a security incident on October 29. The platform resumed services in stages, starting with a limited set of networks and assets and expanding after additional security checks.
Between 06:00 and 15:30 UTC on November 1, withdrawals totalled $4.649 billion, while deposits were $1.01 billion, resulting in a net outflow of about $3.64 billion. Reuters reported that, as of November 2, Binance confirmed a cumulative net withdrawal amount of $4.72 billion since the service reopened. Binance has stated it will cover the loss.
U.S. spot Bitcoin ETF outflows
Data from SoSoValue for October 30 showed net outflows of $643.33 million from U.S. spot Bitcoin exchange‑traded funds, with total fund assets at $98.14 billion. BlackRock’s IBIT recorded the largest single outflow at $233.70 million, followed by Fidelity’s FBTC with $201.04 million, and ARK & 21Shares’ ARKB with $129.55 million.
The outflows reflect reduced exposure to Bitcoin investment products, though the data does not specify investor motivations.
Price movement
Bitcoin rebounded from around $76,500 on Friday, trading between $77,603 and $78,878 on November 2 before settling near $78,021. A move above $78,900 could bring the $80,000–$80,300 region into view, while the day’s low was near $77,600.
