Bitcoin stays near $78K as Binance faces $3.64B in net customer withdrawals

Bitcoin traded around $77,900 on Monday, down 0.4% since midnight UTC, as investors assessed the fallout from Binance’s $6.3 billion security breach and continued withdrawals from the exchange. The largest cryptocurrency briefly reached $78,700 during Asian trading before losing momentum.

Ether edged 0.5% higher to $2,285.90, while the CoinDesk Memecoin Index declined 1.9%, highlighting continued weakness among speculative digital assets.

Binance recorded $4.65 billion in withdrawals and $1.01 billion in deposits during the first day after gradually reopening its withdrawal services on Sunday. The difference left the exchange with net outflows of approximately $3.64 billion.

The exchange said it had replaced around 95% of the assets stolen in the $6.3 billion attack. The FBI has attributed the breach to North Korea’s TraderTraitor hacking group.

U.S. spot Bitcoin exchange-traded funds added to the negative sentiment, recording $643 million in net outflows on Friday. It was the largest single-day withdrawal since June and reversed four consecutive sessions of inflows, according to Farside Investors.

Traditional markets showed a mixed picture. Nasdaq-100 futures rose 0.8% after the index lost 2% over the previous week. Brent crude declined 4% to approximately $109 per barrel after Secretary of State Marco Rubio said President Donald Trump wanted to reach a peaceful resolution to the Iran conflict.

Traders are also monitoring Apple’s earnings, Tuesday’s U.S. midterm elections and the October employment report due on Friday.

Futures activity rises as traders adjust exposure

Crypto futures volume increased 56% over the past 24 hours to $111.8 billion. However, total open interest remained largely unchanged at approximately $137.1 billion, suggesting that the increase in trading activity did not translate into a significant expansion of outstanding positions.

Liquidations rose 77% to $140.2 million, while market orders showed a nearly balanced split between buying and selling, with a slight advantage for sellers.

BNB open interest falls faster than its price

BNB futures open interest declined 5.31%, compared with a 1.12% drop in the token’s price. The difference suggests that traders were reducing their exposure as the exchange dealt with the consequences of the security incident.

Funding rates remained positive, meaning traders holding long positions continued to pay those betting on lower prices.

NEAR leads losses among major tokens

NEAR declined 5.93%, accompanied by a 4.84% reduction in futures open interest. Liquidations reached $3.23 million, while funding rates remained positive.

The token also recorded the weakest cumulative volume delta among major cryptocurrencies, indicating that aggressive selling outweighed buying activity.

BTC and ETH futures volumes climb

Bitcoin futures volume increased 37%, while Ether futures activity surged 83%. Despite the higher turnover, open interest for both assets remained broadly stable.

Bitcoin’s open interest was unchanged alongside a largely flat price. Ether also saw little change in open interest despite gaining 0.74%.

Positive funding rates persisted for both cryptocurrencies, showing that long traders continued to pay short traders.

Options traders maintain demand for downside protection

Bitcoin puts dominate Deribit activity

Put contracts accounted for all three of Deribit’s most actively traded Bitcoin options over the previous 24 hours. The leading contract was a $58,000 put expiring on November 27, well below BTC’s spot price of approximately $78,000.

Bitcoin’s 25-delta skew climbed following the Binance hack before easing. However, puts continued to trade at a premium to calls, indicating that demand for downside protection remained elevated.

Ether options activity is more balanced

Ether options showed a more mixed distribution, with three calls and three puts among the most actively traded contracts. The November 6 $2,650 call led activity.

ETH options skew remained broadly in line with Bitcoin’s, suggesting that traders continued to price downside risks across both markets.

Altcoins struggle as security concerns weigh on sentiment

RUNE falls after U.S. agencies issue warning

THORChain’s RUNE dropped 6.4%, making it the weakest performer in the CoinDesk 100. The token’s losses reached roughly 17% over 24 hours.

The decline followed a joint warning from the FBI, Secret Service and IRS Criminal Investigation urging node operators to block addresses connected to the Binance attackers.

THORChain co-founder JP Thor opposed freezing the funds, putting the network’s response at the center of the debate.

Monero, Zcash and Tron post gains

Monero rose 1.7%, while Zcash advanced 1.4%, outperforming much of the broader crypto market.

Tron gained 1% to $0.3175 despite on-chain analyst SomaXBT tracing approximately $242 million in stolen Binance funds through its network.

AI-related tokens extend their declines

The AI-focused token market remained under pressure. Grass fell 4.5%, NEAR declined 4% to $4.0873, and Kite lost 3.3% to $0.1182.

TRUMP memecoin drops before midterm vote

Official Trump (TRUMP) declined 4.2% ahead of the November 3 U.S. midterm elections. The project has scheduled a dinner for its largest token holders on November 22.

Altcoin Season Index retreats to 46

CoinMarketCap’s Altcoin Season Index dropped to 46 out of 100, compared with 60 before last week’s Binance hack.

The decline indicates that altcoins have weakened relative to Bitcoin as traders reassess risk following the exchange breach.