Bitcoin struggled to regain momentum above $77,000 on Saturday, October 31, after a major security breach at Binance led to sweeping cryptocurrency liquidations and a surge in withdrawals from US spot Bitcoin ETFs.
ETF outflows accelerate Bitcoin’s losses
Early Saturday, Bitcoin traded near $77,170, marking a retreat of 39% from its all-time high around $126,000 reached in October 2025. The recent price action underscored ongoing concerns after the Binance incident deepened market unease and liquidity stress across digital assets.
According to data reported by SoSoValue, US spot Bitcoin ETFs experienced around $643.33 million in net withdrawals on October 30. BlackRock’s IBIT product accounted for withdrawals of approximately $233.7 million, while Fidelity’s FBTC posted outflows totaling $201 million.
US spot Bitcoin ETFs saw net withdrawals of $643.33 million on October 30, led by large-scale redemptions from BlackRock and Fidelity’s funds, following four sessions of inflows.
The reversal in ETF flows ended a four-day streak of net investment and signaled a rapid shift in institutional sentiment. For regulated Bitcoin products, the pullback represented notable caution among large investors following the high-profile exchange breach.
Coinpaper previously documented the price dip below $77,000, which was accompanied by $1.53 billion in liquidated leveraged crypto positions. The combination of ETF outflows and forced selling compounded weakness, showing that both derivatives and spot products faced pressure.
Earlier in the week, some analysts had pointed to renewed ETF inflows as a potential source of stability. However, Friday’s reversal brought doubts about any quick recovery in demand for institutional Bitcoin products. A single session of outflows does not guarantee a sustained trend, but the momentum has shifted, setting a cautious tone going forward.
Technical roadblocks and key price levels
The ongoing retreat in Bitcoin coincided with a steep selloff in the Nasdaq, reflecting investor anxiety over the profitability of major technology firms’ investments in artificial intelligence. This risk aversion filtered into the cryptocurrency market, further complicating Bitcoin’s effort to stabilize.
Bitcoin has tested the $76,000–$77,000 support region after Friday’s breakdown, briefly dipping to $76,300 before rebounding toward $77,000. Buying interest has surfaced near recent lows, but recovery attempts remain precarious with the cryptocurrency trading under the $78,000–$78,500 zone.
A decisive move above $78,500 could pave the way for a rebound toward $80,000, which previously acted as a crucial support. Above that, resistance is likely to emerge at the $82,000–$83,000 range, where earlier recoveries lost momentum. Conversely, failure to hold current levels increases the risk of a decline toward $75,000 and possibly $73,000, both seen as major psychological and technical thresholds.
Technical analysts suggest Bitcoin’s near-term outlook rests on whether it can maintain support above $76,000, with a break lower exposing the $75,000 and $73,000 levels as potential downside targets.
For market participants tracking price volatility and sudden shifts in risk appetite, tools that automate smart price alerts may help reduce reaction time during sharp market moves. CryptoAppsy enables users to set customized alerts tied to critical support or resistance levels—for example, warnings if Bitcoin nears or breaches $76,000—providing timely information when rapid ETF outflows or exchange incidents accelerate volatility.
Focus turns to Binance’s withdrawal restart
Market attention is now on Binance’s response following the attack. The exchange indicated plans to compensate affected users and expects to initiate a phased withdrawal restart beginning November 1, pending security verification tests.
TRM Labs reported that attackers transferred approximately 18,270 BTC, valued at $1.47 billion, during the breach. The investigation identified unauthorized movements across additional blockchains, making the event one of the largest in cryptocurrency exchange history.
