Santiment Intelligence: Binance Loses $6.3B in Oct 29 Hot Wallet Breach; BTC Ends Week Down 5.6%

The latest Santiment Weekly, delivered to subscribers, covers the largest theft in crypto history: Binance lost about $6.3B from its hot wallets on Oct 29. BTC traded flat for five days before closing the week down 5.6% at $76,565. SOL fell 7.3% and ETH 6.3%. XMR was the only major asset to finish green, the second consecutive week that privacy assets held up. Exchange outflows totaled about 19,200 BTC and 421,100 ETH for the week. Part of that reflects the stolen funds; part reflects holders moving to self-custody. Crowd sentiment cracked. The ratio of positive to negative BTC posts hit 0.41, the most negative reading in three months. Positive posts barely moved; negative posts jumped 74%. This is a fear spike, not a loss of conviction. ETH MVRV slipped below 1.0, leaving the average holder slightly underwater. BTC remains 46% above its cost basis. Also this week: the Fed kept rates unchanged; ICE is bringing Hyperliquid-based perps to the US; Polymarket was drained for $2.65M; Ripple won an OCC trust charter; Strategy reported a $19.53B paper gain for the quarter; and more. Full recap below. To get it in your inbox every week, turn on the Weekly newsletter under Email preferences in your Sanbase account.