Connect with us

DeFi

Bitcoin Falls Below $77,000 as Chip Stocks Sell Off Ahead of U.S. Midterms

Published

19 hours ago

on

Bitcoin traded under $77,000 on November 3, 2026, down roughly 2% over 24 hours, as a deepening sell-off in semiconductor stocks weighed on risk assets ahead of the U.S. midterm elections.

On November 2, Bitcoin closed near $76,677 according to a CoinMarketCap snapshot, marking a 24-hour decline of 2.01% and a market capitalization of approximately $1.542 trillion. Broader crypto market capitalization stood near $2.56 trillion. The Nasdaq 100 moved into correction territory, and Asian equities followed lower as chip-sector weakness intensified.

Zcash was among the weakest large-cap performers, falling more than 8–11% on the day. The move came against a backdrop of residual caution after the October 29 Binance security incident and recent multi-hundred-million-dollar outflows from U.S. spot Bitcoin ETFs.

Traders cited a combination of post-hack caution, ETF redemptions, and macro risk tied to the election outcome and ongoing semiconductor weakness. Short-term support levels around $76,400–$76,800 are being watched closely as markets await midterm results and any further operational updates from Binance on its phased withdrawal restoration. Bitcoin dominance remained elevated, indicating that capital was rotating selectively rather than exiting the crypto market entirely.

Related Topics:
Continue Reading
Advertisement
Disclaimer

The content on CoinReporter.io is for informational purposes only and is not financial or investment advice. Cryptocurrency investments are highly volatile and risky. Always conduct your own research and consult a qualified financial advisor before making any investment decisions. CoinReporter.io and its authors are not liable for any losses resulting from actions based on this website’s content.

DeFi

Binance SAFU Fund Falls Below $800 Million Threshold After Record Hack Coverage

Published

19 hours ago

on

November 3, 2026

By

Binance has drawn down roughly half of its Secure Asset Fund for Users (SAFU), leaving the Bitcoin reserve near 7,500 BTC—approximately $580 million at prevailing prices—according to on-chain data tracked on November 3, 2026. The fund has dropped below the $800 million level that Binance’s own rules identify as the trigger for a top-up.

The drawdown followed the exchange’s response to the late-October security incident in which roughly $6.3 billion in assets were taken from hot wallets. Binance stated it covered the majority of the loss from a combination of SAFU, its Futures Insurance Fund, and corporate treasury, restoring approximately 90–95% of customer balances without external financing. Co-CEO Yi He previously indicated that half of the SAFU Bitcoin would be deployed and that the fund would later be replenished toward the $1 billion level.

No official timeline for the refill has been published. Customer withdrawals, which were phased back online after the incident, have shown large net outflows in the days following reopening, with multiple trackers reporting multi-billion-dollar net withdrawals in the first 24 hours. Binance has also increased rebates for smaller market makers to support liquidity.

The episode underscores both the scale of the exchange’s balance-sheet capacity and the transparency questions that arise when an emergency reserve is substantially reduced during a major incident. Market participants continue to monitor the on-chain SAFU wallet and any subsequent Proof-of-Reserves updates as Binance works through remaining less-liquid assets and the ongoing investigation into the TraderTraitor-attributed attack.

Continue Reading

DeFi

DeFi19 hours ago

Binance SAFU Fund Falls Below $800 Million Threshold After Record Hack Coverage

Binance has drawn down roughly half of its Secure Asset Fund for Users (SAFU), leaving the Bitcoin reserve near 7,500...
DeFi19 hours ago

Bitcoin Falls Below $77,000 as Chip Stocks Sell Off Ahead of U.S. Midterms

Bitcoin traded under $77,000 on November 3, 2026, down roughly 2% over 24 hours, as a deepening sell-off in semiconductor...
DeFi19 hours ago

U.S. Spot Bitcoin ETFs See Multi-Hundred-Million Outflows as Post-Hack Caution Weighs

U.S. spot Bitcoin ETFs recorded substantial net outflows in the sessions surrounding the Binance security incident, with redemptions totaling roughly...
DeFi2 days ago

Binance Faces $3.6B Outflows as FBI Ties Record Hack to North Korea

Binance processed a net $3.64 billion in customer withdrawals in the first 9.5 hours after it resumed phased withdrawals on...
DeFi2 days ago

Binance Resumes Phased Withdrawals After Covering 95% of $6.3 Billion Hack

Binance restarted withdrawals in phases beginning November 1, 2026, after stating it had covered approximately 95% of the roughly $6.3...
DeFi2 days ago

Bitcoin Claws Back Toward $79,000 as Markets Digest Record Binance Hack

Bitcoin extended its recovery for a third consecutive day on November 1–2, 2026, trading at $78,248.45 on CoinMarketCap and pushing...
Bitcoin5 days ago

Bitcoin Slides Below $78,000 as Risk-Off Sentiment Intensifies

Bitcoin fell below $78,000 on October 30, 2026, as confirmation of the Binance security incident accelerated a broader risk-off move...
DeFi5 days ago

Stablecoin Issuers and Partners Freeze Billions Linked to Binance Incident

Stablecoin issuers and blockchain partners moved rapidly to freeze billions of dollars in assets tied to the Binance security incident...
DeFi5 days ago

Binance Suffers Record $6.3 Billion Security Incident — Largest Crypto Heist in History

Binance, the world’s largest cryptocurrency exchange, confirmed a major security breach late on October 29, 2026, with an estimated impact...
DeFi6 days ago

LUNC Hits 462B Burned After v4.1.1 Upgrade

As of late October 2026, Terra Classic (LUNC) has burned approximately 462.5 billion tokens—about 6.7% of its roughly 6.445 trillion...

Trending