Key facts: Withdrawals Resume; Dormant 1.1M BTC Could Roil CRYPTO:BTCUSD
Binance resumed phased withdrawals; Bitcoin network for BTCUSD Spot CFD reopened first. Deposits stayed open. Platform completed security checks and warned traders of possible congestion and delays.On-chain data suggests ~1.1M BTC tied to an early miner often linked to Satoshi. Movement of these dormant coins would create visible chain activity and could raise BTCUSD spot CFD volatility.Holds ~845,000–848,250 BTC (~4% supply), BTC position worth roughly $70–$76B. Notes Bitcoin price drives balance sheet; warns 200-week MA breakdown and tighter policy as risks.BTCUSD spot CFD saw about $107.21M liquidated in 24h: $66.21M longs and $41.00M shorts.Binance withdrawal halt may spur user selling, reducing liquidity and adding downward pressure on Bitcoin vs US Dollar (Spot CFD, BTCUSD).BTCUSD traded near 76,650 after resistance around 81–82k and a ~6.5% drop; the 200‑day MA provided support near 76.4k. Close below 76k risks lower levels; reclaiming 78k signals stabilization.BTCUSD saw heavy selling after the Binance hack, with traders realizing about $1.115 billion in losses over 24 hours on Oct. 31 as the event triggered loss-taking.Binance moved 7,499 BTC (~$581M) from its SAFU reserve to one address at 10:51 ET, saying this restores about 90% of assets affected by the Oct. 29 breach and enables phased withdrawals from Nov 1.BTCUSD short-term holders' cost basis rose to about $76,000 after recent profits. Short-term MVRV fell toward neutral ~1 from a 1.18 peak; cost basis was ~$67,500 in mid‑August.US GENIUS Act and EU MiCA clarify stablecoin and crypto rules, impacting BTCUSD spot CFD market structure, trading infrastructure, custody and compliance for institutions and retailThis is an AI-generated summary and may contain inaccuracies. Please verify any important information with the original sources.