Bitcoin entered November under pressure following a sharp deterioration in investor sentiment, significant outflows from exchange-traded funds, and a record-breaking $6.3 billion hack of Binance.
Bitcoin fell by approximately 7.3% in October, closing the month at around $77,558, down from an opening price of roughly $83,554. As of 08:17 Moscow time on November 1, the cryptocurrency was trading at $77,820.0—up 0.76% for the day—having hit a monthly low of $76,314 during the October sell-off.
The Crypto Fear and Greed Index plummeted from 70 points on October 4 to 36 points by October 30, shifting from a state of "greed" to "fear" in less than four weeks.
Historical data suggests a need for caution. On three previous occasions when the index dropped by more than 30 points within a single month, Bitcoin’s price was lower 30 days later—though such a small sample size does not provide a reliable forecast for future price movements.
Institutional selling has added further pressure. On October 30, spot Bitcoin ETFs in the U.S. recorded a net outflow of $643.3 million—the largest single-day outflow of the month—ending a four-session streak of inflows. The cumulative inflow of funds into ETFs fell to approximately $57 billion, down from an October peak of $57.8 billion.
The derivatives market also signaled heightened risks. Open interest in Bitcoin futures reached a five-week high of 686,000 BTC, with long positions accounting for 79% of liquidations.
Analysts at Bitfinex identified the $75,000 level as a key support, noting that for a sustained recovery, Bitcoin needs to climb back above the $80,000 mark.
Meanwhile, the FBI has attributed an unprecedented cryptocurrency theft from Binance to the North Korean hacker group known as TraderTraitor.
According to investigators, the perpetrators converted the stolen assets primarily into Ethereum, with plans to likely launder the funds through decentralized finance (DeFi) platforms and cryptocurrency exchange services.
The FBI has urged crypto companies to block transactions involving the identified addresses, while the analytics firm Chainalysis warned that thousands of wallets are already implicated in the scheme.
Binance stated that it has already recovered approximately 90% of the stolen assets and pledged to fully reimburse its customers for their losses.
Michael Saylor, Executive Chairman of MicroStrategy, supported the exchange’s commitment to covering the losses, predicting that the incident would lead to strengthened security across the industry.
These disruptions coincided with the anniversary of the publication of the Bitcoin white paper on October 31—18 years after Satoshi Nakamoto first introduced the original concept for the cryptocurrency. Cryptocurrency prices today: Altcoins mostly decline on Sunday morning
According to the latest market data, the prices of most cryptocurrencies were trending downward on Sunday.
Ether, the world’s second-largest cryptocurrency by market capitalization, rose 1.13% to $2,267.82.
XRP, the third-largest cryptocurrency by market capitalization, gained 0.38% to reach $1.2521.
Solana fell 0.40% to $95.61, while BNB rose 0.21% to $705.23.
Cardano increased by 0.36% to $0.1935, and Dogecoin gained 0.52%.
Among meme coins, TRUMP remained unchanged for the day, while Shiba Inu declined by 0.84%.