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Bitcoin and major cryptocurrencies extended their gains as a broad risk-asset rally and a $730 million crypto liquidation wave fueled a short squeeze, pushing total crypto market capitalization to $2.66 trillion.
Short liquidations surged to $448 million from $179 million a day earlier, while U.S. spot Bitcoin and Ethereum ETFs recorded $75 million and $53 million in net inflows, respectively.
Continued short covering and renewed ETF demand could support further crypto gains, although mixed performance across major altcoins may limit the breadth of the rally.
Bitcoin recovered above $80,000 on Thursday after a midterm-driven selloff, as improving risk sentiment following the Democrats' congressional sweep lifted crypto and broader markets. U.S. spot Bitcoin ETFs attracted about $75 million on Wednesday and Ether ETFs took in $53 million, while ETH and SOL each gained nearly 4%; Democrats have also indicated opposition to the CLARITY Act. Renewed ETF demand and easing geopolitical concerns could support further crypto gains, although uncertainty over U.S. crypto legislation may limit momentum.
Arthur Hayes warns that large insider share unlocks at SpaceX, Anthropic and OpenAI could trigger heavy dilution, pressure AI valuations and tighten credit conditions, but argues a future central-bank bailout could ultimately benefit Bitcoin and crypto.
Hayes projects SpaceX's public float could expand by another roughly 50% by June 2027, while he points to OpenAI's reported fundraising target and valuation cuts as signs of pressure across the AI sector.
If an AI-driven credit squeeze eventually prompts central-bank liquidity injections, Bitcoin could benefit over the longer term, although Hayes cautions investors to be patient.
Zcash is preparing to make approximately $16 million worth of ZEC in its oldest privacy pool permanently unspendable when the NU7 network upgrade activates, unless holders withdraw before the deadline.
Around 12,226 ZEC remained in the Sprout pool on Thursday, with NU7 set to reject the version-4 transactions required to spend those coins, while also reducing block times from 75 to 25 seconds.
The upgrade could create significant selling or withdrawal pressure ahead of activation, while permanently restricting access to remaining Sprout balances could affect confidence among legacy ZEC holders.
Bitcoin held above $80,000 as crypto markets rebounded following Democratic victories in both houses of Congress, with Zcash surging nearly 12% to lead major tokens. BTC traded around $80,484, up 5.7% in 24 hours, while ETH gained 8% and ZEC climbed 11.7% with $1.2 billion in daily trading volume.
Grok AI identifies Monero (XMR) as the superior privacy cryptocurrency, while suggesting Zcash (ZEC) offers greater potential percentage upside through the rest of 2026.
Monero benefits from mandatory privacy features including ring signatures, stealth addresses, and RingCT, while Zcash relies on optional shielded transactions and zk-SNARKs.
If privacy-sector demand and broader market risk appetite strengthen, ZEC could deliver larger percentage gains, while XMR may benefit from its stronger default privacy technology.
Cryptocurrencies rallied following the U.S. midterm election results, with total crypto market capitalization reaching $2.62 trillion and Bitcoin touching $78,696 as electoral uncertainty eased.
Bitcoin and Ethereum each gained 1.55% overnight, while Zcash surged 9.2%; however, U.S. spot Bitcoin and Ethereum ETFs recorded $116 million and $85 million in net outflows, respectively.
The relief rally could extend if political uncertainty continues fading, but concerns about resistance to crypto-friendly policies and persistent ETF outflows may limit further upside.
Bitcoin recovered from an early dip to around $75,600, climbing back above $78,000 as cryptocurrencies rebounded and DeFi tokens led the market gains.
Ethereum gained 2%, the DeFi Select Index surged around 5%, and Injective advanced 6.2%, while Bitcoin derivatives showed a modest buying bias and liquidations reached $469 million.
Continued buying interest and strengthening DeFi momentum could support further crypto gains, although Friday's U.S. jobs report could trigger renewed volatility.
Zcash Community Grants has abandoned its proposal to redirect roughly 98,000 ZEC toward future mining rewards following criticism of the plan. The committee said future funding decisions should follow Zcash's usual governance process, while it continues receiving 8% of newly created ZEC, approximately 144 coins daily. The decision could preserve funding for development grants in the near term while intensifying debate over ZEC's issuance, governance and allocation of network resources.
Bitcoin briefly plunged to approximately $75,700 as early U.S. midterm results raised the prospect of a Democratic sweep, before recovering to around $76,700 during Asian trading.
The selloff followed a drop of more than $2,000 from near $78,000, while S&P 500 futures fell 1.3% and Nasdaq 100 futures slid 2.3%; Bitcoin was little changed over 24 hours.
Uncertainty over potential regulatory scrutiny and the CLARITY Act could keep crypto markets volatile as election results are finalized.
SoSoValue data showed continued weakness across crypto sectors, with GameFi down 3.07% over 24 hours. Within the sector, Beam (BEAM) fell 10.39%.
AI declined 1.29%, led by a 32.52% further drop in Akedo (AKE) and a 4.73% decline in Unibase (UB). DeFi fell 1.58%, with Hyperliquid (HYPE) down 2.09%, while CeFi slipped 0.96% and OKB declined 1.95%.
PayFi was a relative outperformer, rising 0.68% in 24 hours. Zcash (ZEC) gained 4.59% and Monero (XMR) rose 3.67%. The Meme sector added 0.04%, while Pump.fun (PUMP) gained 7.05%.
Elsewhere, Layer2 fell 0.16% despite SOON rising 8.67%, and Layer1 declined 0.52% while Injective (INJ) gained 2.12%. Historical sector indexes showed ssiLayer2 up 0.35%, ssiNFT up 0.14%, and ssiGameFi down 2.36%.
Binance says it has replenished approximately 95% of assets affected by its record $6 billion hack and completed a new zero-knowledge proof-of-reserves verification. The exchange plans another reserves snapshot Wednesday, expects to progressively restore withdrawals for additional networks and assets Tuesday, and still needs to recover the remaining 5% held in less-liquid tokens. The recovery progress and declining net outflows could help restore confidence in Binance and reduce broader concerns about centralized crypto exchange stability.
Crypto markets remain under pressure as a recent Binance hack and heavy Bitcoin and Ethereum ETF outflows offset institutional buying and a rebound in some major altcoins.
Strategy acquired 811 BTC for $65.5 million, lifting its holdings to 849,327 BTC, while U.S. spot Bitcoin ETFs recorded $643 million in net outflows and Ethereum ETFs saw $156 million leave.
Persistent ETF outflows and security concerns could pressure crypto prices further, although continued institutional accumulation may help limit downside in Bitcoin.
Binance completed a zero-knowledge Proof of Reserves verification for its October 31 snapshot, reporting at least 100% reserve backing across all ten covered tokens following a roughly $6.3 billion hot-wallet outflow.
Bitcoin reserves were reported at 100.04% and BNB reserves at 101.30%, while Binance says it has recovered approximately 95% of the affected assets using corporate funds and insurance funds.
The verification could help restore customer confidence, but uncovered less-liquid tokens and the planned November 4 reserve snapshot remain important tests of transparency and recovery.
Zcash (ZEC) climbed above $1,250 as traders position ahead of Network Upgrade 7, scheduled for November 5.
ZEC investment products recorded $17.72 million in weekly inflows, while futures open interest increased to $2.54 billion.
The upcoming upgrade, which will reduce block intervals from 75 to 25 seconds and disable the legacy Sprout pool, could strengthen ZEC momentum while increasing volatility around the event.
Bitcoin faces a critical week as Binance's $6.3 billion hack fallout, U.S. midterm elections and October jobs data converge, with Binance reporting $3.64 billion in customer net withdrawals on its first day after reopening. BTC has remained relatively resilient near $78,000, while Binance says it has replaced approximately 95% of the stolen funds using its own reserves. Continued withdrawal stability, political developments and upcoming U.S. employment data could determine whether Bitcoin stabilizes around $76,000–$80,000 or faces renewed volatility.
Binance says customer withdrawals are stabilizing after a $6.3 billion theft, with the exchange replenishing approximately 95% of the stolen assets, or roughly $6 billion. By November 1, BTC, ETH, USDT, BNB and ZEC were restored to 100% backing, while Binance resumed withdrawals in phases and published a Proof of Reserves snapshot. Stabilizing outflows and restored customer backing could help rebuild crypto market confidence, although the unprecedented breach may keep security concerns elevated.
Bitcoin climbed roughly 1% to $78,600, extending its winning streak to three days as crypto markets recovered from last week's record $6.3 billion Binance hack.
BTC rebounded from around $77,600, while ETH and BNB gained nearly 2% and ZEC climbed 3% as broader risk sentiment improved across Asian markets.
Bitcoin could regain momentum toward $80,000 if the tech-stock recovery continues, but persistent macroeconomic pressures and upcoming U.S. midterm elections could keep volatility elevated.
Binance has begun restoring crypto withdrawals in phases following a record $6.3 billion hack, with Bitcoin among the first assets to regain withdrawal access. The exchange has reopened withdrawals across 15 other blockchains, replaced approximately 95% of affected assets using company funds, and frozen about $3 billion in stolen funds. The phased recovery could gradually restore user confidence, but the scale of the breach and ongoing security checks may keep pressure on Binance and broader crypto-market sentiment.
Binance plans to gradually resume withdrawals from 06:00 to 09:00 UTC on November 1, following the replenishment of approximately 95% of assets affected by the hack.
The initial reopening will cover 15 networks, including BTC, ETH, BSC, and SOL, while BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD, and ZEC are now backed by 100% reserves.
The phased reopening and commitment to cover all hack-related losses could restore confidence in Binance and reduce uncertainty surrounding affected assets.
Binance says it has replenished 90% of cryptocurrency assets stolen in this week's $6.3 billion security incident, with the exchange targeting a resumption of withdrawals by Sunday.
The remaining 10% involves less liquid tokens, while Binance says it will use its own funds and SAFU to cover affected assets without passing the losses to users.
The recovery could ease concerns about customer fund losses and restore confidence in Binance, although the unresolved recovery and withdrawal restrictions could maintain short-term market uncertainty.
Binance says it has replenished 90% of the $6.3 billion stolen in its record security breach, using company funds and a partial deployment of its SAFU reserve.
The exchange has allocated approximately $6.34 billion to cover losses, while the remaining 10% involves less-liquid tokens that may take longer to source; withdrawals are expected to resume November 1.
The recovery progress and planned restoration of withdrawals could help rebuild confidence in Binance and reduce uncertainty surrounding affected crypto assets.
Binance says it has replenished 90% of the $6.3 billion in cryptocurrency stolen during its massive security breach, with customer withdrawals expected to resume on November 1.
The exchange says BTC, ETH, BNB, SOL, XRP and other major customer holdings are fully backed, while the remaining 10% consists of less liquid tokens; Binance also committed to restoring its SAFU protection fund to approximately $1 billion.
The recovery could help restore confidence in Binance and stabilize affected crypto markets, although the ongoing security investigation and outstanding asset replenishment remain significant risks.
Binance says it has replenished 90% of the assets stolen in its recent incident, with its ten largest tokens now fully backed by reserves and withdrawals scheduled to resume November 1.
The fully backed assets include BTC, ETH, BNB, SOL, XRP, USDT and USDC, while replenishment was funded through SAFU, excess Futures Insurance Fund balances and Binance's corporate treasury.
The planned withdrawal resumption and commitment to restore SAFU to approximately $1 billion could help rebuild confidence in Binance and reduce concerns about liquidity and solvency.
Binance says it has replenished 90% of assets stolen in the hack and will absorb the financial impact rather than pass losses on to users.
The exchange says BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC remain 100% backed, while the remaining affected assets are being purchased through market and OTC channels.
Binance's planned November 1 withdrawal reopening could help restore market confidence, although completing the remaining replenishment and resuming withdrawals remain key milestones.
Binance says its top 10 user-held assets are now backed 1:1 following a security incident that reportedly caused approximately $6.34 billion in losses, with the exchange claiming major holdings are fully covered.
Binance says it has covered roughly 90% of the losses using SAFU funds and corporate capital, while the remaining 10% is tied mostly to lower-liquidity tokens; withdrawals are scheduled to resume in phases on November 1.
The expected November 3 cryptographic Proof of Reserves verification could help restore confidence, but unresolved losses and withdrawal execution remain key risks.
Zcash is facing a major funding debate as a proposal seeks to redirect 36,200 ZEC into its Network Sustainability Mechanism while retaining approximately 55,200 ZEC for grants. Gemini CEO Tyler Winklevoss rejected grant-based funding, arguing that Zcash development should depend on market funding rather than government-style mechanisms. The disagreement could intensify uncertainty around Zcash's development funding and influence sentiment toward ZEC.
Gemini co-founder Tyler Winklevoss has rejected the argument that Zcash is a public good, arguing that its development should be funded by market participants rather than a grants committee.
The dispute centers on ZCG's 8% share of Zcash block rewards, with a competing proposal seeking to redirect that allocation into the Network Sustainability Mechanism; ZCG has countered with a preliminary plan to retain approximately 55,200 ZEC for grants.
The growing governance battle and uncertainty over future development funding could increase volatility and pressure sentiment around ZEC as competing proposals advance toward a network upgrade.
A Zcash treasury proposal would redirect 36,200 ZEC to the Network Sustainability Mechanism, end roughly 62,000 ZEC in future allocations and retain a 55,200 ZEC reserve.
The plan extends funding through the 2032 halving but has drawn criticism over cutting the Foundation's automatic 8% allocation and concerns about accountability to ZEC holders.
The proposed changes could strengthen long-term network funding, but governance disputes may increase uncertainty around ZEC sentiment.
Zcash Community Grants has proposed redirecting approximately $124 million in ZEC toward future mining rewards as growing governance backlash challenges the fund's control over treasury assets.
The proposal would transfer 36,200 ZEC from its treasury to the Network Sustainability Mechanism and forgo another 62,000 ZEC in future allocations, while extending reduced funding through 2032.
The preliminary plan could strengthen Zcash's long-term mining incentives but may intensify governance disputes and uncertainty among ZEC holders before community approval.