TLDR
- Bitcoin traded near $77,175 on Saturday, down 1.71%, after the record $6.3 billion Binance hack.
- Chainalysis linked the laundering activity to North Korean group Tradertraitor.
- Binance reserved over $6.34 billion and will restore withdrawals in phases.
- U.S. spot Bitcoin ETFs saw $643 million in net outflows on Oct. 30.
- Analyst Michaël van de Poppe remains on the long side despite the drop to $76,000.
Bitcoin traded slightly above $77,000 on Saturday as investors followed new details in the $6.3 billion Binance hack. The price was down 1.71% at $77,175.4 as of 01:34 ET.
The breach hit digital asset markets late Thursday and led to sharp drops in crypto-linked stocks. Bitcoin fell below $77,000 during Oct. 30 trading.
Binance market data placed the price at $76,944 shortly after midnight UTC. It then recovered toward $78,000 later in the session.
Analyst Michaël van de Poppe said Bitcoin broke down and fell to $76,000. He said he was positively surprised by the asset’s resilience given the size of the hack.
#Bitcoin broke down, instead of up and it crashed to $76,000.
In all fairness, with this drop to $76,000 while the largest #Crypto hack ever, I'm positively surprised with the resilience of the underlying asset.
If we look at it from a technical standpoint, I mentioned that… pic.twitter.com/72mZy5qJwV
— Michaël van de Poppe (@CryptoMichNL) October 30, 2026
Van de Poppe said he had marked $78,400 as a key level, with no support between it and $75,000. He called $78,000 a bearish flip that may need time to play out.
He remains on the long side. He said a drop to $75,000-$76,000 could offer a chance to buy back toward range highs, since the hack happened at an exchange and not the asset.
Binance Outlines Recovery Plan
Attention has moved from the theft to the movement of stolen funds. Chainalysis found new laundering patterns involving thousands of transactions, which suggests automated systems.
Investigators linked the activity to Tradertraitor, a North Korean hacking group. They found connections to funds taken in September’s Bitget breach.
The attackers also converted $325 million in stablecoins into about $285 million in ether. They appeared to be avoiding issuer-controlled freezes.
Binance said it will restore withdrawals in phases after security checks. It has reserved more than $6.34 billion in company funds, including $5 billion already held in the affected cryptocurrencies.
The exchange said it is buying the remaining tokens through market trades and over-the-counter channels. Some purchases may take longer because of limited liquidity and settlement times.
Bitcoin ETF Flows
Wu Blockchain reported that U.S. spot Bitcoin ETFs saw $643 million in net outflows on Oct. 30, citing SoSoValue data. BlackRock’s IBIT had the largest daily outflow at $234 million.
Spot Bitcoin ETFs See $643M in Net Outflows, Ethereum ETFs Lose $156M
According to SoSoValue data, U.S. spot Bitcoin ETFs recorded total net outflows of $643 million on October 30 (ET). BlackRock's IBIT saw the largest daily net outflow among spot Bitcoin ETFs at $234 million.… pic.twitter.com/Sczp41iAcM
— Wu Blockchain (@WuBlockchain) October 31, 2026
Before that, the funds drew $440.8 million over four sessions through Oct. 29, according to Farside Investors. IBIT took in $410.6 million of that total.
Thursday’s inflows slowed to $17.2 million. The four-day intake recovered about 57% of the $773.5 million withdrawn on Oct. 22 and 23.
Lacie Zhang of Bitget Wallet said holding $76,000-$77,000 and retaking $80,000 through steady spot demand would signal stabilization.
Bitcoin was trading at $77,175.4 on Saturday morning, down 1.71%.
