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# Bitcoin Edges Up 0.32% on Oct 31, 2026 as Binance Covers 90% of Hack
- URL: https://bullquill.com/crypto-daily-brief-2026-10-31/
- Published: 2026-11-01T00:18:24.000Z
- Updated: 2026-11-01T00:18:24.000Z
- Description: Bitcoin ended the UTC day Oct 31 (00:00 UTC, Nov 1) at $77,423.98 on Coinbase in thin weekend trade, as Binance said it had replaced 90% of the assets stolen in its $6.3 billion hack and kept a Nov 1 withdrawal restart on track.
- Author: Rowan Ashby
- Tags: Crypto, Daily Brief, Bitcoin, Binance, Bitcoin ETF, Ethereum, North Korea, #lang-en, #tr-crypto-daily-brief-2026-10-31

## Key takeaways

- Bitcoin rose $243.56 (+0.32%) to $77,423.98 on Coinbase at the end of the UTC day Oct 31, 2026 (00:00 UTC, Nov 1), trading in a narrow band between $76,954.57 and $77,645.12.
- Binance said on Saturday it had replaced 90% of the assets stolen in its record $6.3 billion hack by buying new tokens with company money, and that it remained on track to reopen withdrawals on Sunday, November 1, Reuters reported.
- US spot bitcoin ETFs recorded net outflows of $643.33 million on Friday, October 30, ending a four-session inflow streak, while spot ether ETFs lost $155.85 million, according to SoSoValue data reported by TokenPost.
- Ether gained 0.52% to $2,252.66, while Solana fell 0.87% to $95.31 and XRP slipped 0.38% to $1.2494 on Coinbase.
- CoinGecko valued the total crypto market at $2.63 trillion at 00:07 UTC on November 1, with bitcoin dominance at 59.24%.

## Session recap

Saturday was a quiet, low-volume day after two days of hack-driven swings. Bitcoin opened the UTC day at $77,180.42 on Coinbase, dipped to $76,954.57, touched $77,645.12 and closed at $77,423.98\. For the wider picture, see [Asian and global market closes](https://bullquill.com/markets/), our [October 30 crypto brief](https://bullquill.com/crypto-daily-brief-2026-10-30/) and our report on [the Binance recovery effort and the Thai response](https://bullquill.com/binance-hack-recovery-north-korea-thailand/).

__Crypto market, UTC day October 31, 2026__
| Instrument        | Close/Level | Change   | % change | As of (UTC)      | Source               |
| ----------------- | ----------- | -------- | -------- | ---------------- | -------------------- |
| Bitcoin (BTC)     | $77,423.98  | +$243.56 | +0.32%   | 2026-11-01 00:00 | Coinbase daily close |
| Ether (ETH)       | $2,252.66   | +$11.59  | +0.52%   | 2026-11-01 00:00 | Coinbase daily close |
| Solana (SOL)      | $95.31      | −$0.84   | −0.87%   | 2026-11-01 00:00 | Coinbase daily close |
| XRP               | $1.2494     | −$0.0048 | −0.38%   | 2026-11-01 00:00 | Coinbase daily close |
| Bitcoin dominance | 59.24%      | +0.12 pt | +0.20%   | 2026-11-01 00:07 | CoinGecko global     |

Changes are calculated from Coinbase's previous UTC daily closes on October 30: bitcoin $77,180.42, ether $2,241.07, solana $96.15 and XRP $1.2542\. Dominance is compared with CoinGecko's 59.12% reading at 00:13 UTC on October 31\. CoinGecko put total market value at $2.63 trillion and 24-hour trading volume at $71.57 billion at 00:07 UTC on November 1, with ether's share of total market value at 10.46%.

Trading thinned out sharply. Coinbase recorded 2,434.22 BTC traded on its BTC-USD market during the day, compared with 13,656.05 BTC on Friday, and CoinGecko's 24-hour volume figure fell from $113.27 billion a day earlier to $71.57 billion. Ether traded between $2,233.08 and $2,265.00, Solana between $95.01 and $96.87, and XRP between $1.2400 and $1.2599\. Total market value of $2.63 trillion compared with $2.62 trillion on CoinGecko a day earlier.

## What drove it

### Binance replaced most of the stolen assets

The main news for the market came from Binance. The exchange said on Saturday that it had replaced 90% of the assets stolen in the $6.3 billion hack by buying new tokens with company money, according to a Reuters report carried by The Jerusalem Post. The remaining 10% is in less liquid tokens that may take longer to buy, Reuters said. "We've now replenished 90% of the stolen assets, and we're committed to covering the remaining 10%," co-CEO Richard Teng wrote on X, as quoted by Reuters.

Binance said it had set aside about $6.34 billion of company funds to cover the losses, drawing on part of its $1 billion Secure Asset Fund for Users (SAFU), part of its futures insurance fund and its corporate treasury, Reuters reported. The calm price action suggests traders had largely absorbed the shock of October 29, when most of the selling happened, though no single cause for Saturday's small gain was confirmed.

### Proof of reserves and withdrawals

Binance took a new proof-of-reserves snapshot of customer assets as of 00:00 UTC on October 31, Reuters reported. A proof of reserves is a cryptographic check that lets users confirm an exchange holds at least as many tokens as it owes them. Binance said ten tokens, including BTC, ETH, USDT, SOL, USDC and XRP, would be verifiable at a minimum 1:1 backing once the full proof is available. Teng said in his post that "our users will not bear the financial impact of this incident."

24/7 Wall St, citing blockchain analytics firm Elliptic, reported that the stolen assets included about 18,270 BTC, about 519,000 ETH and 233 million XRP. The same report said a 7,499 BTC transfer from the SAFU wallet flagged by Whale Alert moved coins Binance already owned, according to Binance.

### ETF outflows on Friday

US spot bitcoin ETFs saw net outflows of $643.33 million on October 30, the first full US session after the hack, according to SoSoValue data reported by TokenPost and FinanceFeeds. BlackRock's IBIT lost $233.70 million and Fidelity's FBTC $201.04 million, with outflows also from ARKB ($129.55 million), Grayscale's GBTC ($53.32 million) and Bitwise's BITB ($25.72 million). Total net assets of the funds stood at $98.14 billion, TokenPost reported. FinanceFeeds cautioned that flow data alone cannot show why investors redeemed shares.

Spot ether ETFs lost $155.85 million on October 30, a fifth straight day of outflows, led by BlackRock's ETHA at $76.64 million, TokenPost reported, citing SoSoValue. US ETF markets are closed at weekends, so Saturday had no new fund flows. Our [explainer on bitcoin ETF flows](https://bullquill.com/bitcoin-etf-flows-explained/) covers how these figures are compiled.

### A narrow weekend range

After the heavy liquidations of October 29 and 30, covered in our previous brief, bitcoin's high and low on Saturday were less than 1% apart on Coinbase, with US stock and ETF markets shut. Our [guide to crypto liquidations](https://bullquill.com/crypto-liquidations-explained/) explains how these forced closures work.

## Political & policy watch

- **North Korea attribution.** Analysts blamed North Korea for the hack, Reuters reported. Global Banking & Finance Review's copy of the Reuters report said the FBI attributed the attack to the state-backed TraderTraitor group and expected "further laundering." These are allegations by investigators and analysts.
- **Attack method.** Teng said on Friday that the breach was a "complex attack" involving a compromised laptop and malicious software designed to delete evidence, Reuters reported.
- **Southeast Asian users.** Traders across Southeast Asia who use Binance to move funds between local exchanges are directly affected by the withdrawal freeze and its restart; our earlier report linked above covers the response in Thailand.
- **Federal Reserve.** The Fed's next policy meeting is not until December, according to its published calendar, so no US rate decision is scheduled in early November.

## What to watch next

- **November 1 (Sunday):** Binance's planned reopening of withdrawals, which it said remained on track, according to Reuters. A staged or delayed restart would be closely watched.
- **After the snapshot:** publication of Binance's full proof of reserves based on the October 31 snapshot; Reuters did not give a firm date.
- **November 2 (Monday):** first US trading day of November, with spot bitcoin and ether ETF flow data for the session published after the close.
- **November 3 (Tuesday):** US midterm elections.
- **December 8–9:** next FOMC meeting, according to the Federal Reserve's calendar.

## Risk checklist for readers

- **Weekend liquidity is thin.** With US markets and ETFs closed, lower volume can make prices move more sharply on news.
- **Restart timetables can change.** Exchange withdrawal schedules after a security incident often come in stages and depend on security checks; confirm them on the exchange's official channels.
- **Proof of reserves has limits.** It shows assets against customer balances at a single moment; it is not a full audit of liabilities.
- **ETF flows lag.** Fund flow data covers US trading hours and is published after the close, so it can describe a different period from the UTC day.
- **Hack figures get revised.** Estimates from exchanges, tracing firms and media differ and can change over days.
- **Leverage magnifies moves.** Borrowed positions can be closed automatically after small price swings.

## Frequently asked questions

### Why did Bitcoin rise on October 31, 2026?

Bitcoin edged up 0.32% to $77,423.98 on Coinbase at the end of the UTC day Oct 31, 2026 (00:00 UTC, Nov 1) in thin weekend trading. No single cause was confirmed, but the move came as Binance said it had replaced 90% of the assets stolen in its $6.3 billion hack and remained on track to reopen withdrawals on November 1, according to Reuters.

### What is a crypto exchange proof of reserves?

A proof of reserves is a cryptographic check that lets customers confirm an exchange holds at least as many tokens as it owes them at a given moment. Binance took a new snapshot as of 00:00 UTC on October 31, 2026, Reuters reported. It is not a full audit of an exchange's liabilities.

### What are spot bitcoin ETF flows?

They are the daily net amounts investors put into or take out of US exchange-traded funds that hold bitcoin directly. On October 30, 2026, these funds had net outflows of $643.33 million, according to SoSoValue data reported by TokenPost. Flows cover US trading hours, not the UTC day.

This article is for information only and is not investment advice.