TLDR
- Bitcoin rose about 1% to roughly $78,600 on Monday, its third straight day of gains.
- Binance disclosed a $6.3 billion hack last week, the largest theft from a crypto exchange on record.
- US spot Bitcoin ETFs saw $643 million in outflows on Friday, ending October with $515 million in net withdrawals.
- Ether ETFs posted a record $1.61 billion in October outflows.
- US midterm elections take place Tuesday, with results landing during Wednesday’s Asian trading hours.
Bitcoin rose about 1% to roughly $78,600 on Monday morning in Asia. It was the third straight day of gains as investors picked up risk again after Friday’s rout in US tech shares.
ZEC led the major tokens, climbing 3% to nearly $1,280. Ether and BNB each added nearly 2%, with ether just above $2,300 and BNB at about $713. XRP and TRX rose about 1%, while SOL barely moved at about $95, according to CoinDesk data.
The calmer start follows Binance’s disclosure of a $6.3 billion hack last week. It is the largest theft from a crypto exchange on record. Bitcoin dipped to about $77,600 late Sunday before buyers pushed it back above $78,500 within hours.
Stocks and Oil Rebound
Stock markets are recovering too. The Nasdaq 100 slumped 3.5% on Friday, its worst day since June, and the Philadelphia Semiconductor Index plunged 7%. On Monday, futures on the S&P 500 and Nasdaq 100 climbed at least 0.4%.
Benchmarks rose in South Korea, Hong Kong and Japan. Chinese stocks advanced after a report that regulators will meet banks and brokerages Monday to discuss ways to support the market.
Brent crude fell 3% to about $110 a barrel after a report said President Donald Trump wants to give Iran diplomacy more time. Gold rose about 1% to roughly $3,910 an ounce, bouncing from its lowest close in more than a year.
Analyst Daan Crypto Trades said on X that the break above the bull market support band and the weekly 200MA/EMA doesn’t always go smoothly. He noted that last cycle, Bitcoin sat around these levels for a while before moving higher.
$BTC The break above the bull market support band and Weekly 200MA/EMA doesn't always go smooth at the start.
Last cycle Bitcoin broke out and sat around these for a while before continuing higher.
Right now we are retesting the bull market support band for the first time since… pic.twitter.com/ghPGKgohTD
— Daan Crypto Trades (@DaanCrypto) November 1, 2026
He added that Bitcoin is now retesting the bull market support band for the first time since the initial leg up this summer. He called it a key level to watch with the weekly closes.
ETF Flows Turn Negative
Investors pulled $643 million from US spot Bitcoin ETFs on Friday. That snapped four consecutive days of inflows and left October with $515 million in net outflows, the first negative month since June, according to SoSoValue.
Bitcoin Spot ETFs Saw $203 Million Net Outflows Last Week, Ethereum Spot ETFs Saw $432 Million Net Outflows
In the trading week from October 26 to October 30 (ET), Bitcoin spot ETFs recorded net outflows of $203 million, with Fidelity’s FBTC leading at $166 million in net… pic.twitter.com/enU8ivscIW
— Wu Blockchain (@WuBlockchain) November 2, 2026
The funds still hold about $361 million in net inflows for the year. BlackRock’s IBIT led Friday’s outflows with $234 million, followed by Fidelity’s FBTC with $201 million.
Ether ETFs saw $156 million in net outflows Friday. October’s total reached a record $1.61 billion, beating the prior high of $1.42 billion from November 2025.
Jeff Mei, chief operating officer at BTSE, said Fed commentary suggests macro pressures will keep rates high. He said that may weigh on crypto liquidity over the next few months.
Polls close across the US on Tuesday night. Results will start landing during Wednesday’s Asian trading hours.
