This crypto market update for November 1, 2026 is shaped by two opposing forces: Binance is paying out again after the largest crypto hack in history, while concern is growing about a new escalation of the Iran war after the US midterms on Tuesday. On Sunday morning (11:12 a.m. CET), bitcoin traded at around $78,070 according to CoinGecko, up 0.9 percent over 24 hours. We sort out which news supports the market, which weighs on it and what is still unconfirmed. This article is not investment advice.
Key Takeaways
- Bitcoin is holding steady at around $78,000 despite the Binance hack, ether is at about $2,270. The total crypto market is worth roughly $2.61 trillion according to CoinGecko, with bitcoin accounting for almost 60 percent.
- October was weak: bitcoin lost around 7 percent, ether around 16 percent.
- Binance began reopening withdrawals in phases on Sunday morning and says it has replaced about 95 percent of the stolen assets.
- The FBI has officially named North Korea as the perpetrator. An emergency pause at THORChain is unintentionally slowing the laundering of the loot.
- Headwinds include a report on possible new US strikes on Iran after the midterms, ETF outflows on Friday and a small Nasdaq company that may now sell its 5,833 bitcoin.
Crypto market update: prices and sentiment on Sunday
According to CoinGecko (as of 11:12 a.m. CET), one bitcoin costs around $78,070 (up 0.9 percent in 24 hours) and ether around $2,270 (up 1.2 percent). BNB, the token of the Binance exchange, trades at about $712, up 1.4 percent. The total crypto market is valued at roughly $2.61 trillion, and bitcoin dominance stands at 59.9 percent. Capital remains concentrated in bitcoin, a pattern we already described during the October altcoin sell-off.
Sentiment remains cautious. The Alternative.me Fear & Greed Index reads 34 (“Fear”) on November 1, after 30 on the two previous days and 51 on October 29, before the Binance hack. Other providers calculate their index differently and show slightly different values. Market summaries circulating on X also point to a quiet weekend with only around $74 million in liquidations over 24 hours. The exact total depends on the data provider and time window, but the order of magnitude is small compared with October 24, when, according to The Block, more than $404 million in long positions were liquidated within four hours.
October review: clear losses for bitcoin and ether
Bitcoin closed October with a loss of 7.32 percent, according to a monthly returns overview based on CoinGlass data (close at 00:00 UTC). Based on Binance monthly prices (BTC/USDT), bitcoin fell from $83,624 to $77,582 and ether from $2,686 to $2,256, a drop of about 16 percent. Historical prices can be checked on CoinGecko.
According to the same overview, November was positive for bitcoin in 10 of 16 years, with a median gain of 10.3 percent. That is a statistic about the past, not a forecast. November 2025, for example, ended with a loss of 17.5 percent.
Binance pays out again: 95 percent replaced
The most important positive news of the weekend: Binance launched the first phase of withdrawals on Sunday morning. According to Binance Recovery Update #4, it covers 15 networks, including Bitcoin, Ethereum, BNB Smart Chain, Tron, Solana and XRP. Reuters reports that bitcoin withdrawals resumed shortly after 7 a.m. CET, followed by ether, BNB and some stablecoins. Further networks are to be added gradually after security checks, and Binance warns of possible delays at the start.
According to the exchange, about 95 percent of the stolen assets have now been replaced, up from 90 percent in the previous update. The missing 5 percent are said to be less liquid tokens outside the top ten that can only be bought slowly in the required size. This figure comes from Binance alone and has not been independently verified. Binance points to its proof-of-reserves snapshot. We cover the attack and the restart of withdrawals in our continuously updated article on the Binance hack.
FBI names North Korea, THORChain slows the laundering
On October 31, the FBI attributed the theft of more than $6 billion to the North Korean group TraderTraitor in a cyber alert, as reported by NBC News among others. The agency is calling on exchanges, blockchain operators and analytics firms to block transactions involving the known attacker addresses on Bitcoin, Ethereum and Solana. According to Chainalysis, about $2.8 billion of the loot has been frozen.
A coincidence is also helping investigators. After a reorganization of the Ethereum blockchain, the cross-chain protocol THORChain refunded a 10 ETH deposit twice and then triggered an emergency pause. According to Crypto Briefing, citing Chainalysis, this means the attackers cannot use most THORChain bridges for now. Nothing has been frozen: the pause applies to all users and ends once node operators re-enable trading. Reports that North Korean hackers are moving further millions through other bridges in parallel have not been independently confirmed in that form.
Moscow Exchange plans crypto trading from December 1
The Moscow Exchange plans to start trading bitcoin, ether and USDT in a pilot from December 1, 2026. Executive Boris Blokhin announced the plan at an investor conference on October 31, according to Kommersant and crypto.news. Trading is to run on the stock market infrastructure from 4:50 a.m. to 9:50 p.m. CET. Retail investors will be limited to 300,000 rubles per year per intermediary. This is an announcement: the launch still depends on broker readiness and a pending regulation from the Bank of Russia.
Headwinds: Iran, ETF outflows and a seller on the Nasdaq
The biggest risk factor is geopolitical. According to the Wall Street Journal, the US has told several Gulf states to prepare for a short, intense military campaign against Iran after the midterms. President Trump has not yet decided but is leaning toward strikes, the paper reports, citing people familiar with the matter. The White House does not comment on the plans. According to the WSJ, Iran had offered to reopen the Strait of Hormuz in exchange for an end to the US blockade, which Washington rejected. A report by Iranian state TV about a tanker on fire after hitting a mine in the Strait of Hormuz has not been independently confirmed so far.
Demand through US spot ETFs is also weak. According to Farside Investors, $643.2 million flowed out of bitcoin ETFs on Friday, October 30. That turned the whole trading week negative at $202.4 million, after inflows on the four days before.
In addition, the board of Next Technology Holding (Nasdaq: NXTT) authorized the sale or pledge of the company’s roughly 5,833 bitcoin in tranches, according to a press release dated October 30. That is about $450 million. The company cites the Binance hack, exchange vulnerabilities and potential risks from quantum computing. No sale has been decided yet; the CEO determines timing and size. Compared with daily bitcoin trading volume the amount is manageable, but it can weigh on sentiment.
Assessment: stable, but without a tailwind
What stands out most is what did not happen. A hack of more than $6 billion at the world’s largest exchange has not triggered a crash. Bitcoin is trading roughly where it ended October. The fact that Binance is covering the losses from its own funds and quickly reopening withdrawals takes some of the sting out of the story. How solid the 95 percent figure is will become clearer over the coming days as more networks are re-enabled.
What is missing is fresh demand. Friday’s ETF outflows and the fearful sentiment show that large investors are holding back ahead of the midterms on November 3 and a possible Iran escalation. A new conflict would likely hit risk assets first through oil and rate expectations. How strongly bitcoin has reacted to such signals recently is shown in our article on the October Fed rate decision. The next dates to watch are the midterms on Tuesday, further Binance updates and the planned crypto launch on the Moscow Exchange on December 1.
Note: This article is for information only and is not investment advice. Cryptocurrency prices are highly volatile. All prices refer to the time stated.
