Bitcoin rose to about US$78,600 in Asian trading after slipping to roughly US$77,600 late on November 1, as investors returned to riskier assets after the US$6.3 billion Binance hack and a selloff in US tech stocks.

The breach has been ranked among crypto’s biggest hacks and heists. Questions remain over how customer losses may be handled and how crypto insurance works after such incidents.

Ether and BNB also gained, while US stock futures moved higher.

Brent crude fell 3% to about US$110 a barrel as traders weighed reports that Donald Trump wants to give diplomacy with Iran more time. Gold rose about 1%.

Jeff Mei, COO of crypto exchange BTSE, said high interest rates could continue to pressure liquidity in bitcoin and other cryptocurrencies.

Separately, research has examined whether macro-financial factors influence bitcoin prices.

🔗 Source: Coindesk

Recent Binance developments