Bitcoin Nears $78K as Binance Restores Withdrawals

| crypto.news
Bitcoin rebounded towards $78,000 on November 1 after falling to a six-week low near $76,100 in a sell-off linked to a reported $6.3bn Binance hack. The reported loss has not been independently verified. Binance said it had restored about 95% of affected assets and reopened Bitcoin withdrawals. Bitcoin rose about 1% in 24 hours but remained down roughly 3.7% over seven days, after retreating from around $85,000. Its market capitalisation reached about $1.56tn and dominance approached 60%; total crypto market value rose to between $2.62tn and $2.68tn in the two reports. Altcoins were mixed. Lighter (LIT) led major moves, gaining about 16–18% to above $3.10, while Ethereum and BNB edged higher. Solana and XRP were little changed in the later report; TRON fell nearly 5% in the earlier one. Smaller tokens were volatile: Dessa rose 68%, dKargo 34% and Powerledger 25%, while FUNToken and UnifAI Network fell 29.1% and 22.3%. The Bitcoin recovery suggests some buyers are returning, but its weekly decline and uneven altcoin trading leave the market vulnerable to further volatility. Traders are watching Binance’s restoration progress, whether Bitcoin can hold the $76,000–$77,000 support zone and whether it can reclaim $80,000. Analyst Ali Martinez also flagged INJ, SUI, NIGHT, PENGU and PROMPT after the sell-off.
Neutral
For Bitcoin, the immediate price signal is mixed. The rebound towards $78,000, alongside Binance’s reopening of Bitcoin withdrawals and reported progress in restoring affected assets, may ease some selling pressure and encourage short-term dip buying. However, Bitcoin remains about 3.7% lower over seven days and has fallen substantially from around $85,000. The reported security incident also leaves uncertainty around exchange confidence and risk appetite. Traders are likely to watch the $76,000–$77,000 support area and whether BTC can reclaim $80,000; a break below support could renew selling, while sustained recovery above resistance would strengthen the bullish case. In the longer term, the incident could weigh on sentiment if further losses or operational problems emerge, but a verified resolution could limit lasting damage. With the recovery still tentative and no clear trend reversal established, a neutral classification is most appropriate.