Bitcoin held up better than expected after the Binance hack, Strive CEO Matt Cole said, according to Cointelegraph’s October 31 report. Cole said the incident hadn’t changed his long-term case for Bitcoin, but cautioned that it was too early to declare a market bottom.
- Cointelegraph published its report on October 31, 2026, at 15:26 UTC.
- Cole’s long-term confidence did not amount to a call that Bitcoin had bottomed.
- CoinGecko’s October 31 snapshot at 19:13 UTC showed Bitcoin higher over the preceding day, but lower over the week and month.
- Ethereum and BNB also posted daily gains in that snapshot.
- Alternative.me’s Crypto Fear & Greed Index registered 30, classified as Fear, on October 31.
Timeline of the Binance hack market assessment
- October 31, 2026, 15:26 UTC: Cointelegraph published Cole’s assessment that Bitcoin had held up better than expected, alongside his warning against calling a bottom.
- October 31, 2026, 19:13 UTC: CoinGecko’s snapshot showed daily gains for Bitcoin, Ethereum and BNB, alongside weekly declines for each.
- October 31, 2026: Alternative.me classified sentiment as Fear. The supplied reading has no intraday timestamp, so its order relative to Cole’s comments cannot be established.
These timestamps distinguish the report’s publication from the later market snapshot. They don’t establish when the reported breach began or how prices moved at the moment of the incident. The publication time also should not be treated as the time Cole made his remarks.
Background to Cole’s Bitcoin assessment
The distinction in Cointelegraph’s report on Cole’s Bitcoin outlook is between his long-term case and his caution about identifying a bottom. He maintained the former without claiming the latter. Those positions aren’t contradictory: a longer-term view does not establish where a current decline will end.
The supplied report is brief. It identifies Cole as Strive’s CEO and summarizes his position, but provides no incident timeline, loss estimate or details about customer access. Those gaps limit what can be reported about the Binance hack from this material.
The market figures answer a different question. They show prices and trailing returns at a specified time, not the status of exchange operations. Neither the daily gains nor Cole’s assessment verifies whether any customer access or loss-recovery questions have been resolved.
The available account also gives no numerical benchmark for what Cole expected Bitcoin to lose. His assessment that it held up better than expected is therefore an attributed judgment, not a comparison that can be checked against a supplied forecast.
Market snapshot shows gains within longer declines
CoinGecko’s Bitcoin data show a positive day within a negative week and month. The following snapshot is dated October 31, 2026, at 19:13 UTC. Prices are in USD, and changes cover the trailing periods shown, not periods measured from the incident.
| Asset | Price | 24-hour change | 7-day change | 30-day change |
|---|---|---|---|---|
| Bitcoin | $77,565 | +1.48% | -3.32% | -8.54% |
| Ethereum | $2,255.62 | +1.12% | -2.90% | -16.43% |
| BNB | $707.39 | +1.63% | -2.46% | -8.39% |
Bitcoin’s daily gain was not unique among these assets. Ethereum and BNB also rose over the same trailing period. The snapshot does not establish that investors specifically rewarded Bitcoin for its response to the incident. It records performance, not its cause.
According to Alternative.me’s Crypto Fear & Greed Index, the October 31 reading was 30, or Fear. This provides a separate sentiment observation, but the supplied material does not connect that reading specifically to the reported hack.
The longer comparisons also matter when describing the day’s gains. Bitcoin was down 8.54% over 30 days, while Ethereum and BNB were down 16.43% and 8.39%, respectively. A positive daily return does not erase those losses or demonstrate that further declines have been ruled out.
What remains unconfirmed
A later price observation would offer another data point, not automatically resolve Cole’s warning. Establishing whether an improvement persists requires observations beyond this single snapshot. The available figures do not support a forecast for Bitcoin’s next move or a date for a market bottom.
Operational conclusions also require evidence absent here. The supplied material does not establish the incident’s scope, customer impact or remediation status. Those omissions should not be read as proof of either safety or additional damage. The documented weekly and monthly declines remain relevant context for the positive daily figures.
Cole’s position is narrower than an all-clear: his long-term case survived the news, but he did not identify a confirmed turning point.
FAQ
What did Strive’s CEO say about the Binance hack?
According to Cointelegraph’s October 31 report, Matt Cole said Bitcoin held up better than expected and his long-term case remained unchanged. He also warned that calling a bottom was premature.
Did Bitcoin’s daily gain confirm a market bottom?
No. CoinGecko’s October 31, 19:13 UTC snapshot showed a daily gain alongside weekly and monthly declines. Those figures do not establish a lasting reversal.
Does price resilience mean exchange risks are resolved?
No such conclusion is supported here. The supplied price data and summary of Cole’s remarks do not verify custody conditions, customer access or loss recovery.
Sources
This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrencies are highly volatile; always do your own research before investing.
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