Analysts said that Cointelegraph indicated that Binance committed to covering all user losses caused by the $6.3 billion hacker attack, which helped to control the cascading effects on the crypto market.

DWF Labs, the person in charge of market insights, said about Cointelegraph: "Considering that Binance is able to use its balance sheet to cover these losses, this hack incident does not seem to have had any widespread impact." He mentioned that investors' attention has now shifted to the implications of the mid-term elections in the United States.

According to DefiLlama data, as of 24 hours before publication on Monday, the daily net outflow from Binance dropped to $458 million, which is lower than the $6.1 billion recorded after the resumption of withdrawals on November 2nd.

In the security vulnerability incident on October 29th, attackers stole approximately $6.3 billion from Binance's hot wallets, making it the largest cryptocurrency hacking incident to date. According to a report on Wednesday by CryptoQuant, within the first five days following the hacking incident, Bitcoin (BTC) experienced a maximum decline of 5.7%, which was described as "relatively mild".

In contrast, after Bybit suffered a $1.4 billion hacker attack in 2025, Bitcoin fell by about 13.6%; after Coincheck was hacked in 2018, Bitcoin dropped by approximately 9.9%. Among the past 38 hacker incidents reviewed by CryptoQuant, at least 14 of them resulted in an even greater decline in Bitcoin prices afterward.

The research leader Bitget Wallet and Lacie Zhang stated that in the past, hacker attacks on major exchanges have caused “brief pullbacks, which were then absorbed by the market,” assuming that the demand from long-term holders returned. She added that this hacker attack on Binance does not represent a “structural trend reversal” in the crypto market.

Bitfinex Analysts said about Cointelegraph: "Most of the impacts of this hacking incident now seem to have been factored into market pricing." They noted that Bitcoin is currently trading at an "attractive level."

They also stated, "Whether the market bottom has been confirmed now depends on the Consumer Price Index ( CPI ) data to be released on November 10th, which will influence the Federal Reserve's next interest rate decision. Higher bond yields will put pressure on risky assets."

According to the FedWatch tool of CME Group, market participants currently estimate that the probability of the Federal Reserve raising interest rates at its meeting on December 9th is 80%, which is higher than the 69% from a month ago.

According to CoinMarketCap data, as of 13:21 Coordinated Universal Time on Monday, Bitcoin fell 2.5% within 24 hours, trading at $74,580.