Bitcoin Slips to $77,900 as Binance Sees Net Customer Withdrawals After Resuming Payouts

Deep News
11/02

Since Binance began resuming withdrawals in stages, customers have withdrawn a net $3.64 billion, while U.S. spot Bitcoin ETFs also posted $643 million in net outflows, sending the price of Bitcoin down 0.4%.

Since midnight UTC on Monday, the price of Bitcoin (BTC) has fallen 0.4% to around $77,900, after briefly touching $78,700 in early Asian trading. Ether (ETH) rose 0.5%.

Binance said the exchange began resuming withdrawals in phases on Sunday, during which it processed $4.65 billion in withdrawals and $1.01 billion in deposits, resulting in net outflows of $3.64 billion. Binance has now covered about 95% of the previously stolen $6.3 billion.

According to Farside Investors data, U.S. spot Bitcoin exchange-traded funds (ETFs) recorded $643 million in net outflows on Friday, the largest single-day net outflow since June, reversing four consecutive trading days of net inflows.

Nasdaq 100 futures rose 0.8%, after the index fell 2% last week. Meanwhile, Brent crude oil prices fell 4% to around $109 per barrel. Earlier, U.S. Secretary of State Marco Rubio said President Donald Trump wants a peaceful resolution to the Iran war.

Traders are now focused on Apple's earnings due after the U.S. market close on Monday, the U.S. midterm elections on Tuesday, and the U.S. jobs report due on Friday.

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