Bitcoin Holds Near $78,000 as Binance Sees $3.64 Billion in Withdrawals After Record $6.3 Billion Hack

Bitcoin held steady near $78,000 on Monday as crypto markets weighed the fallout from the record $6.3 billion hack of Binance, the world's largest cryptocurrency exchange.Bitcoin fell $346.

95, or 0.44%, to $77,879.04 as of about 10:25 a.

m. Eastern time.The world's largest cryptocurrency is down roughly 5% from its high on Thursday, before Binance disclosed the theft.

Binance reopens withdrawalsBinance reopened customer withdrawals on Sunday, three days after the hack. Customers pulled a net $3.64 billion from the exchange on the first day, Binance said.

The exchange said it has replaced about 95% of the stolen funds using its own reserves.Binance founder Changpeng Zhao sought to reassure users, writing on social media that "98% choose to stay!"Institutional investors such as hedge funds have been particularly aggressive in pulling money from Binance, according to reports.

The largest crypto heist everHackers stole about $6.3 billion in digital assets from Binance on Oct. 29, making it the largest cryptocurrency theft on record.

The FBI and blockchain analysts have linked the attack to the North Korea-linked hacking group TraderTraitor.The Ethereum blockchain was hit hardest, with about $3.8 billion stolen.

The hackers also took 18,270 bitcoin, worth about $1.5 billion, along with assets on the TRON, XRP and Solana blockchains.About $3 billion in stablecoins was frozen by issuers and partners, but stolen bitcoin could not be frozen.

The FBI released wallet addresses linked to the hack, and the U.S. Secret Service said it was working to track and recover the funds.

Market holds upBitcoin's resilience has surprised some traders. After the collapse of crypto exchange FTX in 2022, bitcoin plunged 19% in three days.This time, the decline has been much smaller, which analysts have largely attributed to Binance's pledge to cover all losses."

Exchange hacks always weigh on the market," Alex Ryzhkin, chief commercial officer at B2BINPAY, told CoinDesk, adding that deep institutional participation now helps absorb the shock.Bitcoin has also closed above its 50-week moving average for a seventh consecutive week despite the hack, according to Bitcoin.com News.

ETF outflowsInvestors have been pulling money from bitcoin exchange-traded funds. U.S.

bitcoin ETFs saw $643 million in outflows on Friday, according to CoinDesk.A weak stretchBitcoin has struggled in recent months. It traded around $84,757 a month ago and about $110,521 a year ago, meaning it has fallen nearly 30% over the past year, according to Fortune.

The cryptocurrency hit an all-time high of more than $126,000 in October 2025.Busy week aheadCrypto investors are watching several events this week, including Tuesday's U.S.

midterm elections and Friday's October jobs report, which could influence expectations for interest rates.Bitcoin has fallen after each of the last three midterm elections, according to Bitcoin.com News, though past performance does not predict future moves.

What's nextAnalysts say bitcoin's direction in the near term will depend on whether Binance withdrawals continue smoothly and whether investors regain confidence in centralized crypto exchanges.Some analysts expect bitcoin to stabilize between $76,000 and $80,000 if withdrawals proceed without problems.