Markets
After a record 5,6 Mds € hack, the crypto market weathers it without a sharp drop
Despite the announcement of a 5,6 billion-euro hack targeting Binance, bitcoin and ether finished trading on 1 November 2026 slightly higher, while the sector’s total market capitalization remains above 2.3 trillion euros. A full-scale test of the market’s resilience and confidence in major platforms.
The day after the announcement of Binance’s record hack, estimated at 5,6 milliards d’euros, the crypto market surprised with its resilience. On 1 November 2026, bitcoin closed around 69 900 € (≈78 235 $), up about 1.1% over 24 hours, trading in a range of 69 100–69 900 € (≈77 383–78 235 $), according to Basis Desk. No widespread panic-selling phase was detected on major platforms, despite the systemic reach of the announcement.
Basis Desk’s closing report for 1 November 2026 values the crypto market’s total capitalization at around 2,31 billions € (≈2,59 billions $), with bitcoin dominance at 60.5%. This stability, in a context of a confidence shock linked to Binance, suggests a broader distribution of risk across platforms and a growing weight of institutional investors, who are reputed to be less reactive to short-term news than retail traders.
On ethereum’s side, aggregated data from CoinGecko via froht.com and Kinzan place ether between about 2 020 € and 2 030 € (≈2 262–2 270 $) on the evening of 1 November, with intraday variation below 1%. Weekly summaries from CoinPulseHQ and MarketAlleys note a moderate rise in BTC and ETH over seven days, while highlighting that intraday volatility remains concentrated on announcements affecting Binance and regulators.
On 2 November 2026, KuCoin’s Daily Market Report indicated bitcoin around 70 000 € (≈78 350 $) and ether near 2 033 € (≈2 275,28 $), while the “Fear & Greed” index remained at 37, in the distrust zone. This contrast between resilient prices and cautious sentiment illustrates a more mature market: participants now seem to distinguish the risk linked to a particular platform from the risk weighing on the entire ecosystem, without underestimating the regulatory and security stakes.
However, observers interviewed in the daily and weekly reports insist on the fragility of this balance. The muted price reaction after a 5,6 milliards d’euros shock guarantees neither the absence of aftershocks nor lasting confidence. The coming weeks should be paced by Binance’s technical announcements, authorities’ investigations and possible rule adjustments — all factors likely to rekindle volatility, upward as well as downward, in a market still in a normalization phase.