Crypto Daily Market Report – November 3

Key Takeaways

① Price trend: Funds continued to flow out after the Binance hack, compounded by risk aversion ahead of the U.S. midterm elections. BTC retreated to $76,738.10 (-1.32%), holding above the $76,000 support zone; SOL -1.62%, DOGE -1.03%, BNB -1.09%, with only XRP posting a slight gain of 0.41%

② Fund flows: BTC spot ETFs recorded $643 million in net outflows on 10/30, ending four consecutive days of inflows; cumulative net outflows over the past five trading days totaled $203 million. ETH spot ETFs recorded $156 million in net outflows on 10/30 (according to Altcoin Buzz); no verified ETF data was available for 11/02

③ Today: U.S. midterm election voting day, the Reserve Bank of Australia’s interest-rate decision, and U.S. September JOLTS job openings; the Fear & Greed Index fell from 37 to 26 (Fear), nearing the “Extreme Fear” zone

Market Overview

Fear & Greed Index: 26 (Fear)
· BTC spot ETFs: -$643 million net outflows on 10/30
· ETH spot ETFs: -$156 million net outflows on 10/30

Over the past 24 hours, the market has remained focused on the fallout from the Binance hack. After Binance gradually resumed withdrawals on 11/1, the scale of capital outflows became the focal point: according to QCP Capital, Binance processed $4.65 billion in withdrawals and $1.01 billion in deposits, resulting in net outflows of $3.64 billion, or approximately 2.1% of assets. The Block reported the same figure of $3.64 billion; Cointelegraph, however, reported that net outflows had expanded to $5.8 billion and said that OKX recorded $445 million in net inflows over the same period. Binance said it had replenished 95% of the affected assets. The Block reported that Binance had completed its latest proof of reserves, while QCP said the full zero-knowledge proof of reserves would be released on Tuesday.

On prices, according to QCP, BTC was around $78,500 during the Asian session on 11/2 before retreating, and stood at $76,738.10 as of 22:03 UTC on 11/2. QCP noted that the $76,000–$76,600 range had supported prices on four occasions. Monthly Deribit options settled at $78,119 last Friday, with a notional value of $10.92 billion; after the expiration buffer disappeared, spot prices became more vulnerable to event-driven shocks. No verified data on total market liquidations on 11/2 was available among the sources collected for this report.

The macro backdrop remained tight: U.S. October ISM Manufacturing PMI rose to 55.5, above expectations of approximately 54.6 (Trading Economics), while the final S&P Global Manufacturing PMI came in at 54.9, below the expected 56.0. Geopolitically, according to QCP, after tankers were attacked near the Strait of Hormuz, Brent crude closed at $117.63 last Friday, a six-month high, before retreating to $109.66 during Monday’s Asian session. U.S. midterm election voting takes place today, and QCP said the options market was pricing implied volatility of approximately 47% during the election period.

Liquidity and Sentiment: Bitcoin spot ETFs recorded $643 million in net outflows on October 30, the largest single-day outflow since June (Altcoin Buzz, The Block). Cointelegraph reported monthly net outflows of $515 million from BTC spot ETFs in October, while monthly net outflows from ETH spot ETFs reached a record $1.61 billion. Corporates are still buying the dip: Strategy added 811 BTC, and BitMine added 8,573 ETH. The Fear and Greed Index fell from 37 to 26 within a single day, indicating further deterioration in sentiment.

Next, watch for two things: first, whether Binance’s full proof-of-reserves disclosure is released and whether net outflows slow. If withdrawals continue to accelerate, they could once again pressure the prices of major cryptocurrencies. Second, today’s midterm election results and Friday’s U.S. October nonfarm payrolls report. QCP said that reclaiming $79,500 on a daily closing basis could signal a recovery; if the $76,000 support zone breaks, the 50-week moving average at approximately $75,700 will become the next level to watch.

Top 10 Tokens by Market Capitalization

Ranking and data source: CoinPaprika (excluding staked/wrapped derivatives such as stETH, wstETH, WBETH, and WBTC). Data as of 2026-11-02 22:03 UTC; the top-10 list is consistent with CoinMarketCap’s rankings. Rankings may have changed amid sharp volatility.

Analysts’ Views

• The $76,000 support zone is critical in the short term: In a market commentary on 11/2, QCP Capital analyst Elisha noted that BTC held the $76,000–$76,600 range, which has reversed price action four times. Options skew remains tilted toward downside protection, primarily reflecting the Binance incident. A daily close above $79,500 is needed to reclaim the range lost last Thursday. The risk is that macro volatility triggered by the midterm elections and oil prices could cause support to fail, with the next reference level being the 50-week moving average at approximately $75,700.
• The hacking incident instead highlights the market’s resilience: BitMine Chairman Tom Lee used the Binance incident to say that the crypto market has become more resilient rather than more fragile. BitMine added 8,573 ETH on the same day, bringing its total holdings to approximately 6.06 million ETH (according to Decrypt). The risk is that exchange net outflows and continued outflows from ETH spot ETFs have not yet stopped, and institutional accumulation may not be enough to offset selling pressure.

The views above are from third parties and do not represent Hotcoin’s position.

Key Takeaways

• Net outflows continued after Binance resumed withdrawals, with estimates ranging from $3.64 billion to $5.8 billion. Binance said it had replenished 95% of the affected assets and was advancing its proof-of-reserves process, while North Korea denied the FBI’s allegations regarding its involvement in the case (sources: The Block, Cointelegraph, Altcoin Buzz). The scale of outflows and the proof-of-reserves results will directly affect the market’s assessment of exchange custody risk.
• Strategy increased its holdings by 811 BTC for approximately $65.5 million, bringing its total holdings to 849,327 BTC; Strive added 124 BTC last week, bringing its total holdings to 43,124 BTC (Sources: The Block, Decrypt). Public companies continued buying during the price pullback, providing some demand support for spot markets.
• Mercado Bitcoin, Brazil’s largest crypto exchange, suffered a security incident and suspended deposits and withdrawals. The Block reported losses of approximately $46 million, while Decrypt reported approximately $40 million; the exchange said customer funds were unaffected (Sources: The Block, Decrypt). Following Binance, another exchange has run into trouble, further suppressing risk appetite.
• BitMine added 8,573 ETH, bringing its total holdings to approximately 6.06 million ETH, or about 4.9% of ETH’s total supply (Sources: Decrypt, The Block). Continued accumulation by whales contrasts with outflows from spot ETH ETFs, and ETH’s short-term trend still depends on the tug-of-war in fund flows.
• Approximately 50 U.S. companies, including Microsoft, Nvidia, JPMorgan Chase, and Alphabet, oppose having their stocks included on the tokenized stock trading platform that OKX and ICE plan to launch (Sources: Altcoin Buzz, Decrypt). Compliance and issuer-authorization issues surrounding tokenized stocks could delay the rollout of related businesses.

Today’s Highlights

Frequently Asked Questions

What is the BTC price today? BTC is trading at $76,738.10 (24-hour change: -1.32%) (data as of 2026-11-02 22:03 UTC; source: CoinPaprika).

Why did Bitcoin fall today? Net outflows continued after Binance resumed withdrawals (estimates from various sources range from $3.64 billion to $5.8 billion). A new security incident at Brazil’s Mercado Bitcoin, combined with the U.S. midterm elections and tensions in the Middle East driving up oil prices, has heightened risk aversion in the market.

What is the current market sentiment? The Fear and Greed Index stands at 26/100 (Fear), down 11 points from 37 the previous day and nearing the “Extreme Fear” range.

How are flows into BTC spot ETFs? On 10/30, net outflows totaled $643 million, the largest single-day outflow since June, ending four consecutive days of net inflows. Over the past five trading days, cumulative net outflows totaled $203 million. No verified source for the 11/02 data has been found yet.

Risk Disclaimer: This article is only a compilation of market information and does not constitute investment advice. Digital asset prices are highly volatile; please carefully assess your own risk tolerance.

Related Reading:

• Crypto Daily｜Binance Resumes Withdrawals, BTC Stabilizes at $78,000, ETF Sees $643 Million in Single-Day Outflows (11/02)
• Crypto Daily｜Binance Suspected of Suffering the Largest Hack in History, BTC Falls Below $77,000, Fear and Greed Index Plummets to 30 (10/30)