Bitcoin moved closer to $78,000 on November 1, offering relief after a difficult week for cryptocurrency markets. The rebound followed selling pressure linked to the reported $6.3 billion Binance breach, though gains had not fully erased Bitcoin's weekly losses.
According to CoinGecko data, Bitcoin gained approximately 1% over 24 hours, with its trading range stretching from $77,303 to $78,134. The cryptocurrency briefly moved above the $78,000 mark during the session.
The broader cryptocurrency market was valued at approximately $2.68 trillion, up 0.7%. Bitcoin represented about 58.4% of that total.
Recovery Tests Key Support Levels
The latest rebound followed a slide toward $76,100 after the October 29 Binance incident. Earlier attempts to regain $80,000 had already struggled, leaving the market vulnerable when security concerns intensified.
Bitcoin remained approximately 3.7% lower over the week, meaning Sunday's move represented a partial rebound rather than a complete reversal of the period's decline. Analysts identified $76,000–$77,000 as an important support area.
Binance began restoring Bitcoin withdrawals on November 1, with Reuters reporting the exchange had replaced approximately 95% of stolen assets and planned to cover outstanding losses.
Altcoin Performance Diverges Sharply
Lighter's LIT token stood out during the session, climbing approximately 18% to $3.19, with trading volume exceeding $100 million and market capitalization around $797 million.
Major cryptocurrencies posted smaller moves. Ethereum traded near $2,269, up approximately 1.1%, while BNB approached $714. XRP hovered around $1.25, and Solana stayed close to $95.43 with little daily movement.
Smaller tokens showed a sharply divided market. Dessa gained approximately 68%, dKargo advanced 34%, and Powerledger climbed 25%. Other assets moved in the opposite direction, with FUNToken declining 29.1%, UnifAI Network falling 22.3%, and Cap losing 17.1%.
Outlook for Bitcoin's Next Moves
The immediate question is whether Bitcoin can maintain its position above the support zone and build toward $80,000. Sunday's rebound improved the daily picture, but the weekly decline and uneven altcoin performance left the recovery incomplete.
Bitcoin's ability to hold recent gains, developments at Binance, and the breadth of participation across altcoins remain the main themes. For now, the market points to stabilization alongside continued volatility.
