Binance hack sparks heavy outflows as futures traders stay: Santiment

Binance’s $6.34 billion hack has driven heavy cryptocurrency withdrawals and some of Bitcoin’s most negative social sentiment on record, while futures traders have maintained billions of dollars in positions, according to Santiment. Bitcoin sentiment fell to 0.37 positive comments per negative comment following the Oct. 29 breach. Binance-associated wallets recorded roughly 28,316 BTC in net outflows through Nov. 5. Bitcoin and Ethereum futures open interest remained near $8.97 billion and $8.03 billion, respectively. ENA withdrawal activity reached 169 addresses in one hour, compared with the usual 20–25. Santiment’s Nov.

Source: crypto.news