Bitcoin stabilised around $76,000 as the weekend began, even after President Trump confirmed that the U.S. military struck Iran and following a violent week that included the Binance hack, U.S. midterm election volatility, and a major Brazilian exchange breach.
The largest cryptocurrency initially crashed from $81,000 to $76,000 on October 30 after the $6.3 billion Binance hack. A recovery attempt reached $79,000 on Monday, but the Democratic sweep in the U.S. midterms first sent BTC to $75,600 before a rebound to $81,000 on Wednesday afternoon. By Thursday, Bitcoin erased those gains and slid below $76,000 alongside Wall Street, then fell under $75,000 on Friday for the first time in more than two months. Bulls eventually stepped in to restore the price to about $76,000.
Binance, meanwhile, has replenished about 95% of affected tokens after the October 29 cyberattack, which the FBI attributed to North Korea’s TraderTraitor group. Co-CEO Richard Teng told Hong Kong Fintech Week on November 3 that the exchange remained financially healthy. Customer withdrawals reached roughly $4.72 billion by Monday before activity normalised.
Brazilian exchange Mercado Bitcoin confirmed a breach on November 2. Bitquery estimated losses at $48.6 million across at least 10 blockchain networks, up from the exchange’s initial $38 million report. Stablecoin issuers helped freeze millions in stolen funds, and the company pledged to cover customer losses.
Among altcoins, Zcash rose more than 4% to $1,325 and Quant gained 5.3% to retake $200. RAIN and CC fell about 5%. Zcash activated its NU7 network upgrade on November 6, cutting target block times from 75 seconds to 25 seconds and adding a Network Sustainability Mechanism that reserves 60% of transaction fees for future mining rewards. The 21 million coin supply cap remains unchanged.
Elsewhere, Circle reported third-quarter revenue and reserve income of $865 million while cutting about 5% of its workforce, and Apple and Meta joined 67 companies rejecting tokenised stock trading plans proposed by OKX and Intercontinental Exchange.
