Bitcoin Rises 1.04% on Nov 1, 2026 as Binance Reopens Withdrawals

Key takeaways

• Bitcoin rose $806.57 (+1.04%) to $78,230.55 on Coinbase at the end of the UTC day Nov 1, 2026 (00:00 UTC, Nov 2), trading between $77,370.00 and $78,298.82.
• Binance began a phased restart of withdrawals on Sunday, November 1, after the $6.3 billion hack, and said it had now covered 95% of the stolen assets, Reuters reported.
• Between 06:00 and 15:30 UTC, Binance processed $4.6 billion of withdrawals and $1.0 billion of deposits, a net outflow of $3.6 billion or 2.1% of its assets, according to TechCrunch.
• Ether gained 0.87% to $2,272.23, Solana fell 0.97% to $94.39 and XRP was almost flat, down 0.02% at $1.2491 on Coinbase.
• Bitcoin traded 3,035.64 BTC on Coinbase's BTC-USD market during the day, up from 2,434.22 BTC on Saturday.

Session recap

Bitcoin climbed steadily through Sunday as Binance reopened withdrawals for the first time since its record hack. It opened the UTC day at $77,423.98 on Coinbase, dipped to $77,370.00, reached $78,298.82 and closed at $78,230.55. For the wider picture, see Asian and global market closes, our October 31 crypto brief and our report on the Binance recovery effort and the Thai response.

Changes are calculated from Coinbase's previous UTC daily closes on October 31: bitcoin $77,423.98, ether $2,252.66, solana $95.31 and XRP $1.2494. Bitcoin dominance is shown as n/a because the two market-wide data providers we checked disagreed sharply at 00:12 UTC on November 2: CoinGecko put dominance at 60.11% and total market value at $2.61 trillion, while CoinPaprika showed 57.22% and $2.75 trillion. CoinGecko's reading also implied a 2.95% fall in total market value over 24 hours, which does not match the gains in bitcoin and ether, so we are not publishing a single figure.

Ether traded between $2,245.34 and $2,275.51, Solana between $93.00 and $95.80, and XRP between $1.2409 and $1.2582. Activity picked up from Saturday's very quiet session. Coinbase recorded 3,035.64 BTC traded on its BTC-USD market, about a quarter more than the 2,434.22 BTC of the day before, though still far below the 13,656.05 BTC traded on Friday, October 30, when the hack news hit hardest.

What drove it

Binance reopened withdrawals in phases

The main event for the market was Binance's return to normal service. The exchange restarted withdrawals on Sunday in phases, beginning with 15 tokens including bitcoin, ether, dogecoin and some USDC and USDT stablecoin pairs, according to Reuters, in a report carried by Investing.com. "We are taking a phased approach by prioritizing tokens based on the past week data of user demand," Binance said, as quoted by Reuters.

TechCrunch reported that the restart was staggered by network and asset type, and that some networks remained fully suspended on Sunday morning. Binance warned that users could see delays because of heavy traffic, TechCrunch said. Bitcoin's gain came as the restart went ahead without a reported disruption, though no single cause for the day's move was confirmed.

Outflows smaller than some had feared

Customers pulled $3.64 billion, or 2.1% of Binance's assets, as the exchange came back online, Reuters reported. TechCrunch gave a breakdown: between 06:00 and 15:30 UTC, Binance processed $4.6 billion of withdrawals and $1.0 billion of deposits. Data from DefiLlama showed larger outflows of $5.81 billion, according to Reuters, but Binance said that figure was not accurate because it left out flows into the exchange's new hot wallet, a wallet kept online for day-to-day transfers.

Reuters put Binance's assets under management at $171 billion as of October 28. A net outflow of about 2% would be small compared with that base, which may help explain why prices held up, though analysts have not tied the price move to the flow figures.

Coverage of stolen funds rose to 95%

Binance said it had now covered 95% of the stolen $6.3 billion, up from the 90% it reported on Saturday, according to Reuters. The remaining 5% is in less liquid tokens that may take longer to buy. The replacement tokens were funded from Binance's $1 billion Secure Asset Fund for Users (SAFU), part of its futures insurance fund and its corporate treasury, Reuters said. Co-CEO Yi He said Binance would use 50% of the SAFU fund and refill it to about $1 billion.

"Binance will bear the financial impact of the stolen funds," the exchange said, as quoted by TechCrunch. Reuters also reported that about $3 billion of the stolen assets had been located as of Friday, with other crypto firms helping to freeze them.

No ETF flows over the weekend

US spot bitcoin and ether ETFs do not trade at weekends, so Sunday brought no new fund-flow data. The last figures, for Friday, October 30, showed outflows, as covered in our previous brief. Our explainer on bitcoin ETF flows covers how these figures are compiled.

Political & policy watch

• North Korea attribution. The FBI said on Saturday that North Korea's state-sponsored TraderTraitor unit was responsible for the hack and that the group had been converting stolen assets into ether, with "further laundering" expected, Reuters reported. Pyongyang did not respond to requests for comment, Reuters said.
• White House caution. President Donald Trump said it remained unclear whether North Korea was involved. "We don't know if it's North Korea," he said, according to Reuters.
• Southeast Asian users. Traders in Thailand, Indonesia and other ASEAN markets who use Binance to move funds between local exchanges depend on the pace of the phased 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

• Coming days: the restart of withdrawals for tokens outside Binance's first phase; Binance has not given a full timetable, according to TechCrunch.
• After the investigation: a more detailed incident report, which Binance said it would publish once its investigation is complete, TechCrunch reported.
• November 2 (Monday): first US trading day of November, with spot bitcoin and ether ETF flow data for the session published after the US close.
• November 3 (Tuesday): US midterm elections.
• December 8–9: next FOMC meeting, according to the Federal Reserve's calendar.

Risk checklist for readers

• Phased restarts can stall. Exchanges reopen withdrawals token by token after security checks; confirm the status of each network on the exchange's official channels.
• Flow data differs by provider. Exchange figures and on-chain trackers such as DefiLlama can count wallets differently, as Sunday's gap between $3.64 billion and $5.81 billion showed.
• Market-wide totals can be wrong. Aggregators sometimes show sudden jumps or drops in total market value or dominance; compare more than one provider before relying on a reading.
• Weekend liquidity is thinner. With US stock and ETF markets closed, lower volume can make prices move more sharply on news.
• Hack figures get revised. Estimates of stolen, frozen and replaced assets from exchanges, investigators and media can change over days.
• Leverage magnifies moves. Borrowed positions can be closed automatically after small price swings; our guide to crypto liquidations explains how this works.

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