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Major cryptocurrencies post weekly losses despite a modest daily rebound
Bitcoin fell 4.3% over seven days to $77,286 as of 9:30 a.m. Korea time on Oct. 31, while Ethereum dropped 5.1% to $2,245, according to CoinGecko data. Both tokens edged higher over the preceding 24 hours, gaining 0.5% and 1.8%, respectively.
Other major cryptocurrencies followed a similar pattern, with weekly declines alongside daily gains. Solana traded at $96.31, down 5.8% for the week but up 3.8% over 24 hours. Avalanche stood at $8.59, down 4.3% weekly but up 6.7% daily. XRP fell 2.6% over seven days to $1.26, while BNB declined 4.3% to $709.
The total cryptocurrency market capitalization was approximately $2.62 trillion, down 2.8% over 24 hours. Bitcoin accounted for 59.1% of the market, with a market capitalization of about $1.55 trillion. Ethereum's market capitalization was approximately $274.3 billion.
U.S. Bitcoin ETFs attract inflows while Ethereum funds lose money
U.S. spot Bitcoin exchange-traded funds recorded net inflows for four consecutive trading sessions from Oct. 26 through Oct. 29, totaling $440.8 million, according to Farside Investors. BlackRock's iShares Bitcoin Trust (IBIT) accounted for $410.6 million, or 93.1% of the total.
Inflows were strongest on Oct. 27, at $176 million, followed by $137.3 million on Oct. 28. The funds attracted $110.3 million on Oct. 26 and $17.2 million on Oct. 29. Lookonchain separately reported net Bitcoin ETF inflows of 395 BTC on Oct. 30 and cumulative seven-day inflows of 3,503 BTC.
Ethereum investment products moved in the opposite direction. U.S. spot Ethereum ETFs recorded an $88.6 million net outflow on Oct. 26, including $104.7 million withdrawn from BlackRock's ETHA, partially offset by $16.1 million in inflows to Fidelity's Ethereum fund. The funds had also recorded $110.6 million in net outflows on Oct. 22. Lookonchain reported 27,947 ETH in daily net outflows on Oct. 30 and 109,709 ETH over seven days.
Binance wallet breach triggers major liquidations
Security firm TRM Labs reported that attackers removed approximately $6.36 billion from Binance wallets on Oct. 29, with funds moving across 10 blockchain networks: Ethereum, Bitcoin, Tron, XRP Ledger, Solana, Arbitrum, Avalanche, Optimism, Base and Polygon. The reported withdrawals included 970,500 SOL, worth about $96 million, from Solana and approximately $28 million from Avalanche.
TRM Labs attributed the attack to TraderTraitor, a hacking group linked to North Korea. The reported incident was followed by the liquidation of approximately $1.54 billion in trading positions held by about 239,000 traders. Roughly $1.3 billion of the liquidated positions were leveraged bets on rising prices, known as long positions.
The largest reported single liquidation was a $11.09 million BTC/USDT position on Binance. Bitcoin fell 2.08% to $78,419.97 in the reported market reaction.
A separate attack affected Bloom, a Telegram-based trading bot used for Solana and Ethereum Virtual Machine-compatible networks. On Oct. 26, an attacker exploited a remote code execution vulnerability in an external module and, over approximately 94 seconds, drained about 9,408 SOL, worth between $947,000 and $953,000, from 49 wallet addresses belonging to nine users. Bloom said it would fully compensate affected users.
Federal Reserve holds rates as Bitcoin struggles to break higher
The U.S. Federal Reserve kept its benchmark interest rate unchanged at 3.75% to 4% following its Oct. 28 Federal Open Market Committee meeting. The decision passed by a 10-2 vote, with Lisa Cook and Beth Hammack dissenting in favor of a rate increase. Bitcoin briefly rose 0.47% to $80,771 in the 24 hours following the announcement.
Glassnode's 44th-week Bitcoin market report, released Oct. 26, said Bitcoin had climbed toward $85,000 during the middle of the week but failed to break through that level. It subsequently slipped below $80,000 briefly before trading around that threshold. The report identified aggressive market selling in perpetual futures contracts from Thursday onward as a major factor weighing on prices.
Glassnode also noted that U.S. spot Bitcoin ETFs had reversed the previous week's net outflows, recording approximately $300 million in net inflows. However, buying was concentrated early in the week and reversed as prices weakened. Adjusted transfer volume increased 25.9% to $5.5 billion, while daily active addresses declined 2.2% to 615,200.
The figures highlight a market facing competing forces: renewed institutional demand for Bitcoin investment products, persistent selling pressure, security concerns and uncertainty surrounding leveraged trading. All prices and market statistics reflect the stated Oct. 31, 2026, snapshot and are subject to change. This report summarizes publicly available market data and is not investment advice.
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