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Bitcoin and Ethereum have struggled to recover from this week's losses, with the Binance hack adding to pressure from falling technology stocks and withdrawals from U.S. crypto investment funds.
Bitcoin traded near USD 77,247 on October 31, while Ethereum changed hands around USD 2,243. The broader crypto market had fallen to USD 2.59 trillion, losing 0.59% over the previous 24 hours. Investors also withdrew nearly USD 799 million from U.S. spot Bitcoin and Ethereum ETFs on Friday.
Binance's latest security breach came as cryptocurrencies were already losing ground. On October 29, attackers accessed the exchange's wallets and transferred an estimated USD 6.3 billion in digital assets. Binance halted withdrawals while security teams examined the affected systems.
No previous reported crypto theft has reached that amount. Bybit lost roughly USD 1.5 billion in February 2025, while the Ronin Network suffered a USD 624 million breach in 2022. The Poly Network attack a year earlier involved about USD 611 million.
Binance has since reported that nearly USD 3 billion of the stolen assets were frozen. The exchange also reserved USD 6.34 billion to cover losses, although it has not confirmed recovering all the frozen funds.
Bitcoin fell below USD 78,000 following the incident. Ethereum also traded near USD 2,200 after the wider market sell-off.
Friday brought another setback for cryptocurrency investment funds. Data from Farside Investors showed that U.S. spot Bitcoin ETFs lost USD 643.2 million on October 30, reversing four straight sessions of inflows.
BlackRock's IBIT recorded USD 233.7 million in withdrawals. Fidelity's FBTC followed with USD 201 million, while ARK Invest's ARKB lost USD 129.5 million.
Ethereum funds had been losing money throughout the trading week. Another USD 155.7 million left spot ETH ETFs on Friday, taking five-session withdrawals to around USD 431.4 million.
BlackRock's ETHA accounted for USD 76.6 million of Friday's redemptions, followed by USD 34.1 million from Grayscale's Ethereum fund.
The figures show that investors pulled money from both Bitcoin and Ethereum investment products during a period of falling cryptocurrency prices.
Bitcoin recovered from a recent low of USD 76,300 but has yet to regain USD 78,000. That price remains the first barrier for buyers attempting to reverse the latest decline.
The MACD indicator continues to show weak momentum. Its reading stood at -1,148.98, below the signal line of -580.12, on the October 31 chart.
A return below USD 76,300 would put the next support near USD 75,900 under examination. If Bitcoin instead breaks above USD 78,000 and holds there, traders could turn their attention toward USD 80,000.
Ethereum's recovery has also been limited. At around USD 2,243, ETH remained below USD 2,300, with its four-hour RSI near 37.
The next support stands at USD 2,208, followed by USD 2,156. A decline through both levels would extend the current downward movement.
For a recovery, Ethereum would need to move above USD 2,300 before testing USD 2,400. Neither level has been reclaimed in the supplied market snapshot.
Traders are also watching Binance's planned November 1 withdrawal restart, which remains subject to security checks.
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