Daily Cryptocurrency Market Report – November 2
Author kim
Key Highlights
① Price trend: The market stabilized after the Binance hacking incident. BTC at $78,060.12 (+0.60%) held above $78,000. BNB rose 1.13% and led major cryptocurrencies as Binance resumed withdrawals, while SOL was relatively weak at -1.65% and ETH edged up 0.23%.
② Fund flows: BTC spot ETFs recorded a net outflow of $643 million on 10/30, the largest single-day outflow since June 25, ending the previous four consecutive days of net inflows; cumulative net outflows over the past five trading days totaled $203 million. ETH spot ETFs recorded a net outflow of $105 million on 10/29; no verified data was available for 10/30.
③ Today: The U.S. October ISM Manufacturing PMI will be released tonight. Tomorrow, the Reserve Bank of Australia's interest-rate decision and the U.S. midterm elections will take place on the same day. Binance is expected to publish its complete proof of reserves on 11/3. The Fear & Greed Index rebounded from 34 to 37 (Fear).
Market Overview
Fear & Greed Index: 37 (Fear)
· BTC spot ETFs recorded a net outflow of -$643 million on 10/30
· ETH Spot ETF 10/29 Net Outflow: -$105 Million
The main theme in the market over the past 24 hours has been recovery following the Binance hack. After Binance suffered an attack worth approximately $6.3 billion last week, it began restoring BTC withdrawals in phases starting 11/1, and said that about 95% of the affected assets had been replenished. It stated that BTC, ETH, USDT, BNB, SOL, XRP, and other assets have 100% reserves, with a complete proof of reserves expected to be released on 11/3; all of the above are Binance’s own statements and are not yet the results of an independent audit.
On prices, BTC briefly fell to around $76,300 on 10/30 before gradually recovering to around $78,000 over the weekend. BNB, which is directly linked to Binance, rebounded 1.13% after withdrawals were restored, making it the best-performing non-stablecoin among the top ten by market capitalization. SOL, XRP, HYPE, and ZEC posted slight declines. Overall, the market remains focused on recovery, with no clear direction yet established.
Fund flows remain cautious: According to SoSoValue data, BTC spot ETFs saw a net outflow of $643 million on 10/30. IBIT, FBTC, and ARKB recorded outflows of $234 million, $201 million, and $130 million, respectively. The single-day outflow exceeded the cumulative inflows of the previous four days—approximately $441 million—and the five-day total was a net outflow of $203 million. ETH spot ETFs saw a net outflow of $105 million on 10/29, with the outflow trend still not reversed.
The Fear and Greed Index rose from 34 to 37. Sentiment has recovered somewhat from the day of the incident but remains in the “Fear” zone, indicating that concerns over exchange custody risks have not fully subsided.
Next, there are two points to watch. First is Binance’s complete proof of reserves on 11/3 and the progress in reopening withdrawals for other assets—if delivered as scheduled, confidence risks surrounding the exchange may be further absorbed; if delays or shortfalls emerge, selling pressure could become concentrated again. Second are this week’s U.S. midterm elections and data such as the ISM and nonfarm payrolls. The election results will affect expectations for crypto-regulation legislation, while the economic data will influence market pricing for a December rate hike by the Federal Reserve. At the same time, watch whether ETFs can return to net inflows today (11/2).
Top Ten Tokens by Market Capitalization
Rankings are based on CoinPaprika’s market-capitalization rankings, excluding staking derivative tokens. Data as of 2026-11-02 08:59 UTC+8; rankings may have changed amid sharp volatility.
Analyst Views
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Hacker Panic May Create an Accumulation Window: Crypto analyst Ali Martinez wrote on X on 10/31 that the panic triggered by the Binance hack could present an opportunity to buy the dip, highlighting key support levels and price targets for tokens including INJ and SUI. The risk is that if new losses or regulatory action emerge in the aftermath, panic could intensify again.
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XRP Short-Term Strengthening Signal Awaits Confirmation: Analyst Xaif Crypto said on 11/1 that after a round of concentrated selling pressure, XRP’s cumulative volume delta (CVD) turned clearly positive, signaling a short-term bullish shift, but confirmation has yet to arrive. The risk is that Ripple unlocked 1 billion XRP from escrow on the same day, and increased supply could cap the rebound.
The views above are from third parties and do not represent Hotcoin’s position.
News Brief
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Binance began gradually restoring BTC withdrawals on 11/1, saying that approximately 95% of affected assets had been replenished. In its 10/31 update, it stated that more than $6.34 billion in company funds had been allocated, with a full proof of reserves expected to be released on 11/3. The exchange’s ability to honor withdrawals is central to this round of market recovery, and the proof-of-reserves results will directly affect user and capital confidence.
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U.S. spot BTC ETFs recorded net outflows of $643 million on 10/30, the largest single-day outflow since June 25. Five of the 12 funds recorded outflows. Institutional capital exited in concentration during the hacking incident, making ETF flows a key indicator of whether the rebound can continue.
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Ripple unlocked 1 billion XRP from its escrow account as usual on 11/1. It had relocked 700 million tokens in October, and as of 10:50 UTC on 11/1, the amount to be relocked this month had not yet been confirmed. If the amount relocked is relatively small, increased circulating supply of XRP could put pressure on its price.
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The U.S. crypto industry contributed approximately $170 million in political funds for the midterm elections, with most of the money going to Republican candidates. The election results on 11/3 will affect the pace at which Congress advances legislation on crypto market structure.
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Small-cap token Lighter (LIT) rose approximately 18% on 11/1, with trading volume exceeding $100 million, leading the altcoin market. Some capital flowed back into high-beta themes after the broader market stabilized, but volatility and liquidity risks for small-cap coins also increased.
What to Watch Today
The above covers events on 11/2 (Monday) and 11/3 (Tuesday); 11/3 is Japan’s Culture Day holiday, and there are no major data releases in the euro area on either day. Already released yesterday: 11/1 (Sunday) was a weekend, with no major macroeconomic data released. Tonight’s ISM data will affect pricing for a December rate hike, tomorrow’s U.S. midterm elections are the biggest variable for this week’s crypto regulatory expectations, and Friday will bring the October nonfarm payrolls report.
Frequently Asked Questions
What is today’s BTC price?
BTC is trading at $78,060.12 (+0.60% over 24 hours).
How has the Binance hack affected the market?
Binance suffered a hack worth approximately $6.3 billion last week, and BTC briefly fell to around $76,000 on 10/30. Starting 11/1, Binance gradually resumed withdrawals and said that approximately 95% of the affected assets had been replenished, after which market sentiment stabilized.
How is market sentiment currently?
The Fear & Greed Index stood at 37/100 (Fear), edging up from 34 (Fear) the previous day.
How are BTC spot ETF fund flows?
There was a net outflow of $643 million on 10/30, ending four consecutive days of net inflows (a net inflow of $17.07 million on 10/29); cumulative net outflows over the past five trading days totaled $203 million.
Risk Disclaimer: This article is for informational purposes only and does not constitute any investment advice. Digital asset prices are highly volatile; please carefully assess your own risk tolerance.
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