Bitcoin was trading around $78,000 after the $6.3 billion Binance hack, with three factors now being monitored to determine the market’s next move. Spot Bitcoin and Ethereum ETFs recorded outflows of $202.59 million and $431.53 million, respectively, last week, indicating weakening institutional demand. Binance withdrawals reached about $4.65 billion against deposits of slightly more than $1 billion, but represented only a little over 2% of the assets held by the exchange. Meanwhile, the hacker reportedly moved about $242 million through several cross-chain protocols and converted 486,970 SOL, worth $46.4 million, into Bitcoin. Bitcoin was down more than 2% over seven days, 5% over two weeks and 7% over 30 days, while remaining 38% below its record high reached in October.
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