'Incredible' That Bitcoin Outperformed Gold Last Week Despite $6.3 Billion Binance Hack, Says Analyst

Cryptocurrency analyst Willy Woo noted on Sunday that Bitcoin (CRYPTO: BTC) didn’t lose much ground after the massive Binance hack that unsettled the industry.

Woo Says Bitcoin Held Up Well

As of this writing, Bitcoin is down 2.4% over the week, while spot gold is down 2.70%.

Asset	24-Hour Gains +/-	7-Day Gains +/-	Price (Recorded at 1:40 a.m. ET)
Bitcoin	+0.30%	-2.40%	$78,103.00
Spot Gold	+0.84%	-2.70%	$3,905.38 per ounce

Woo found Bitcoin’s outperformance vis-à-vis gold “incredible,” adding, “BTC is in a bull market.”

INCREDIBLE

Binance hacked for $6.3B… ETF holders dumped $643M…

Yet Bitcoin outperforms Gold for the week.

Gold: -3.0%
BTC: -2.9%

BTC is in a bull market.

(In contrast FTX rugged BTC -25% in a bear market.)

— Willy Woo (@willywoo) November 1, 2026

The analyst compared Bitcoin’s reaction to the aftermath of the FTX collapse in November 2022, when the cryptocurrency dropped to a low of approximately $15,480 from around $21,000 just before the crisis.

The Binance Hack: What Comes Next

Even so, Binance’s $6.3 billion hack has rattled cryptocurrency markets.

U.S.-listed Bitcoin exchange-traded funds saw over $200 million in net outflows last week, according to SoSo Value. The iShares Bitcoin Trust ETF (NASDAQ:IBIT) experienced $233.70 million in outflows on Friday

Binance, the world’s largest cryptocurrency exchange, reported a major security incident late Thursday with an estimated $6.3 billion impact.

The company said it has covered $6 billion, roughly 95% of the stolen funds, using its Secure Asset Fund for Users, futures insurance fund and corporate treasury.

FBI investigators traced the hack back to North Korea’s notorious cybercriminals, the same group behind many such attacks on the cryptocurrency industry.

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