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Bitcoin Trades Near $78,200 as Binance Hack and ETF Outflows Weigh on Crypto Markets

Bitcoin Trades Near $78,200 as Binance Hack and ETF Outflows Weigh on Crypto Markets

Fresh ETF selling wipes out recent inflows as investors assess the fallout from Binance’s security breach

Written by Rahul Dhingra, Edited by Rohan Pal | Updated: 2 November 2026 16:12 IST

Bitcoin Trades Near $78,200 as Binance Hack and ETF Outflows Weigh on Crypto Markets

Photo Credit: Unsplash/Aleksi Räisä

Bitcoin attempts to recover as investors assess security concerns and institutional demand

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Highlights

Bitcoin rebounds towards $78,500 after Friday’s sharp decline
US spot Bitcoin ETFs record $643.2 million in Friday outflows
Analysts identify $77,500 as an immediate support level for Bitcoin

Bitcoin was trading at Rs. 74.1 lakh) on Monday as cryptocurrency markets continued to assess the impact of the reported $6.3 billion (roughly Rs. 59,761.80 crore) Binance hack and fresh institutional selling. Ethereum (ETH) was priced at Rs. 2.17 lakh, while major altcoins showed mixed movements. Market participants said Bitcoin's recovery towards the $78,000 level (roughly Rs. 73.99 lakh) offered some relief after Friday's decline, but concerns over the security incident, substantial futures liquidations and outflows from US spot Bitcoin exchange-traded funds (ETFs) continued to weigh on sentiment. According to CoinGecko data, Bitcoin traded at $78,100 (roughly Rs. 74 lakh), while Ethereum was priced at $2,300 (roughly Rs. 2.1 lakh).

The world's largest cryptocurrency rose 0.3 percent in the last 24 hours, according to the Gadgets 360 price tracker. Market participants said the Binance incident triggered nearly $1.57 billion (roughly Rs. 14,899.02 crore) in futures liquidations, while selling pressure intensified as US spot Bitcoin ETFs recorded $643 million (roughly Rs. 609.95 crore) in outflows. Analysts further noted that Bitcoin's rebound towards $78,500 (roughly Rs. 74.47 lakh) reflected some relief after the exchange reported stabilising withdrawals.

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Major Altcoins Show Mixed Momentum on Monday

Binance Coin (BNB) was priced at $710 (roughly Rs. 67,400), while Solana (SOL) traded at $95 (roughly Rs. 9,000). XRP was priced at $1.25 (roughly Rs. 118), while Dogecoin (DOGE) traded at $0.07568 (roughly Rs. 7.5).

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$643 Million in ETF Outflows Reverse Four-Day Inflow Streak

Discussing Bitcoin's price movement and broader market sentiment, the CoinSwitch Markets Desk said, “BTC remained relatively stable, trading around the $78,000 level (roughly Rs. 73.99 lakh) as market participants assessed developments surrounding Binance's reported security breach and its potential implications for broader market sentiment. Meanwhile, broader macroeconomic uncertainty and cautious risk appetite continued to influence investor positioning.”

Highlighting the impact of the Binance incident, ETF outflows and upcoming macroeconomic developments, Prateek Gupta, Head of Business at Mudrex, said, “Bitcoin remains under pressure near $77,700 (roughly Rs. 73.71 lakh) after Friday's drop to $76,400 (roughly Rs. 72.47 lakh), its lowest since mid-September, following the $6.3 billion (roughly Rs. 59,761.80 crore) Binance hack. The incident triggered nearly $1.57 billion (roughly Rs. 14,899.02 crore) in futures liquidations, although Binance says it has covered 95 percent of affected assets. Selling pressure intensified as US spot Bitcoin ETFs saw $643 million (roughly Rs. 609.95 crore) in outflows, ending a four-day inflow streak and pushing weekly outflows to around $202 million (roughly Rs. 191.62 crore).”

Commenting on Bitcoin's recovery, ETF flows, interest-rate expectations and altcoin performance, Vikram Subburaj, CEO of Giottus.com, said, “Bitcoin's rebound towards $78,500 (roughly Rs. 74.47 lakh) reflects some relief as Binance reports stabilising withdrawals after the $6.3 billion (roughly Rs. 59,761.80 crore) theft [...] The interest-rate outlook could make that return harder. Although the Fed held rates at 3.75-4 per cent on October 28, two members preferred an increase [...] For investors, $77,500 (roughly Rs. 73.5 lakh) is the immediate support level to watch. Keep fresh purchases small ahead of November 6. Avoid leveraged bets on the 1.11 per cent rebound.”

Binance Faces Historic Crypto Hack as Market Fallout Unfolds

Overall, analysts said Bitcoin's ability to reclaim $78,800 (roughly Rs. 74.7 lakh) will be important for improving near-term sentiment, while support around $77,500 (roughly Rs. 73.5 lakh) and $75,800 (roughly Rs. 71.9 lakh) remains crucial. Subburaj advised investors to keep fresh purchases small ahead of the November 6 US employment report and avoid leveraged bets on the recent rebound.

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Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Further reading: Crypto markets, Crypto Prices, Bitcoin, Ethereum

Rahul Dhingra

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Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More