UDA – Weekly Digital Assets Brief – November, 2 nov 2026
Digital assets ended the week lower as a record exchange hack, a hawkish Federal Reserve and a sharp technology sell-off arrived within three days. Bitcoin fell 2.8% to approximately $78,230 and Ether 1.9% to approximately $2,268. On Thursday evening Binance disclosed an estimated $6.3 billion theft, the largest in crypto history, which triggered about $1.57 billion of liquidations within 24 hours. On Friday, U.S. spot Bitcoin ETFs recorded $643 million of outflows, their largest daily withdrawal since June, turning a constructive week of flows negative. Bitcoin closed October down more than 7%, its weakest October since 2014. The $76,000–$76,600 support band held.
Bitcoin: Early resilience gives way to defensive positioning
Bitcoin | Price |
Weekly open | $80,849 |
Weekly high | $81,858 |
Weekly low | $76,409 |
Weekly close | $78,340 |
Weekly performance | -3.10% |
Bitcoin traded between $80,000 and $82,000 early in the week, supported by $441 million of ETF inflows from Monday to Thursday. The Fed’s hawkish hold on Wednesday and a firmer PCE print on Thursday capped the advance. The Binance disclosure then drove a 6.8% fall within hours, from the $81,890 high to $76,301, with roughly $1.32 billion of long positions liquidated. A second leg lower on Friday followed the Nasdaq’s 2.9% decline and set the weekly low, before buyers defended the $76,000–$76,600 band. Price recovered to $78,000 over the weekend. Bitcoin lost roughly 1.4 times the Nasdaq-100’s weekly decline of 1.98%, its fourth consecutive weekly fall. Next supports: the 50-week moving average near $75,700, then $74,400–$74,900.
Ethereum: Persistent fund withdrawals constrain recovery
Ethereum | Price |
Weekly open | $2,312 |
Weekly high | $2,354 |
Weekly low | $2,178 |
Weekly close | $2,268 |
Weekly performance | -1.9% |
Ether fell to a two-month low of $2,178 on Friday and lost roughly 16% across October, about twice Bitcoin’s decline. Selling was institutional: spot Ether ETFs recorded outflows on all five sessions, totalling $431 million, and $1.61 billion was withdrawn during October. About $358 million of Ether positions were liquidated during the Binance sell-off. This suggests weaker demand through listed investment vehicles, although ETF activity alone cannot establish positioning across the broader institutional market. A more convincing recovery would require improving spot participation alongside stabilising fund flows.
Top Stories of the week You need to know
Binance sees $3.64 billion in net outflows after reopening withdrawals following record hack
Binance resumed withdrawals in phases on November 1 following a $6.3 billion hack attributed by the FBI to North Korea’s TraderTraitor group. The exchange reported $3.64 billion in net customer outflows, equivalent to 2.1% of its assets, although withdrawals were stabilising. Binance said it had replaced 95% of the stolen assets using its own resources and would absorb all losses, with less liquid tokens taking longer to source. The reopening represents an important test of customer confidence, keeping custody security, counterparty exposure and access to funds in focus for institutional investors.
HYPE surges 15% as NYSE parent ICE moves to bring Hyperliquid perps to US
Intercontinental Exchange (ICE), the parent company of the NYSE, has partnered with TradeXYZ to develop regulated US perpetual futures markets using Hyperliquid’s technology, subject to regulatory approval. ICE would operate the exchange and clearing infrastructure, while TradeXYZ would design markets covering cryptocurrencies, equities, indices, commodities and foreign exchange. ICE is also taking a strategic stake in TradeXYZ. HYPE rose approximately 15% following the announcement, which signals growing convergence between traditional exchanges and on-chain derivatives and could broaden access to around-the-clock trading through regulated intermediaries.
Wall Street backbone DTCC brings $30 trillion securities closer to blockchain with major banks
DTCC has launched its tokenization service on Canton Network and its private Besu blockchain, initially covering 34 eligible securities—including stocks, ETFs and US Treasuries—with a combined market value of approximately $30 trillion. Twenty financial institutions, including JPMorgan, Citi and Morgan Stanley, have signed agreements to access the service. Tokens are backed one-for-one by securities held at DTC and can move between registered wallets around the clock, preserving existing ownership rights. The launch advances institutional blockchain adoption, with digital-cash settlement and collateral functionality planned. The $30 trillion figure represents eligible securities, rather than assets already tokenized.
Ripple gets a final go-ahead to launch its own U.S. national trust bank
Ripple has received final approval from the Office of the Comptroller of the Currency to establish Ripple National Trust Bank under US federal supervision. The bank will manage reserves backing its approximately $2.5 billion RLUSD stablecoin and provide regulated digital-asset custody for institutional clients. RLUSD will continue to be issued by Ripple’s New York-regulated subsidiary, Standard Custody & Trust Company. The approval strengthens Ripple’s regulated infrastructure for payments, custody and treasury services, marking another step in the integration of digital assets into the US financial system.