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Bitcoin ETF outflows top $643M as the Binance hack lands

Published November 2, 20269 min read
An open steel vault door reveals an otherwise empty shelf holding a single unmarked coin.
An open vault evokes the tension between exchange custody risk and institutional crypto outflows. Illustration: MarketIntelLabs

Bitcoin did on Monday what the largest hack in its history could not stop: it moved higher. In the Monday Asia cash session the spot price was trading near $78,300, up roughly 1 percent and on a third straight session of gains, having fallen to about $76,943 in Friday's session, dipped to roughly $77,600 late Sunday, then recovered above $78,500 before buyers eased it back. But the institutional flow data told a harder story on Friday, the most recent completed trading session, and that divergence is the real story of this week. The market absorbed a roughly $6.3 billion theft from Binance's hot wallets, the FBI pinned it on North Korea's TraderTraitor group, and the price tape barely flinch…

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