Dollar awaits US midterm results as bitcoin slides after Binance heist
The dollar and major currencies hold steady before US midterms, while bitcoin and ether fall after a $6.3 billion theft from Binance.
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what happened
The dollar and other major currencies barely moved on Monday as traders awaited US midterm elections that could reshape control of Congress and the federal budget, Reuters reported.
The euro hovered near a 17-month low at $1.1159 after Fitch revised its outlook on France to negative from stable. Sterling stood at $1.3387, and the dollar index sat at 101.94.
Bitcoin and ether stayed under pressure after hackers, whom the FBI links to North Korea, stole $6.3 billion from Binance, the largest crypto exchange. Reuters said customers withdrew $3.64 billion, and the exchange said it had covered 95% of the stolen assets.
why it matters
Beyond the vote itself, markets are watching how stable crypto trading stays after the hack. Outflows and security doubts about exchanges typically weigh on crypto prices. According to AMINA Bank, hedge funds posted significant losses in October, leaving markets with little capacity to absorb surprises.
market impact
Bitcoin and ether: outflows and security worries after the Binance hack weigh on prices
- Bitcoin pressure down — outflows from Binance and security concerns after the hack
- Ether pressure down — the same crypto-market reaction to the Binance theft
tags
instruments
sources
- Dollar rangebound ahead of US midterms; bitcoin reels from crypto heist — Reuters, 2 November 2026 at 00:53 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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