Crypto Daily Market Report – November 2, 2026
🔍 Key Insights
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📊 Market Overview
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U.S. equities pulled back sharply last week amid concerns over AI capital expenditure and corporate earnings. On Friday, the Nasdaq fell 2.86%, the S&P 500 declined 1.82%, and the semiconductor index dropped 7.2%, as investors grew increasingly concerned that tech giants’ continued AI spending was failing to deliver sufficient near-term returns. Meanwhile, the Federal Reserve held interest rates at 3.75%–4.00%, with two officials favoring a hike, further weighing on risk appetite. Crypto markets also faced pressure from the roughly $6.3 billion Binance hack. BTC briefly fell toward $76,300 before recovering some losses, trading between $77,000 and $78,000 over the weekend without sustained panic selling. By the morning of November 2, BTC was retesting $78,000, while ETH traded around $2,260. Fund flows remained cautious, however: spot BTC ETFs recorded $643 million in net outflows on October 30, while spot ETH ETFs saw approximately $156 million leave, suggesting institutional capital had yet to return meaningfully. Near-term attention remains on support around $76,000 and resistance at $80,000. A sustained move above $80,000, accompanied by improving ETF flows, could support further recovery; continued selling in tech stocks could instead push BTC back toward lower support levels. U.S. midterm elections, nonfarm payrolls, and tech earnings could amplify volatility this week.
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BTC: $78,350.00 (+1.05%); ETH: $2,275.28 (+0.88%); Nasdaq: 25,437.00 (−2.86%); S&P 500: 7,580.07 (−1.82%); Fear & Greed Index: 37 (previous: 30).
Data as of November 2, 2026, 00:00 UTC.
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🧠 Market Insights
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Withdrawal pressure at Binance has eased, but rebuilding trust is only beginning. In the first 9.5 hours after phased withdrawals resumed on November 1, Binance processed $4.649 billion in withdrawals and $1.01 billion in deposits, resulting in approximately $3.64 billion in net outflows—2.1% of its previously disclosed $171 billion in assets under management. Binance said withdrawal volumes had gradually declined after an initial surge. The exchange has also replenished approximately 95% of the affected assets, with the remaining 5% largely consisting of less liquid tokens, indicating substantial capacity to mobilize funds and meet near-term withdrawals despite the losses. Nevertheless, market activity suggests users remain keen to reduce platform exposure and move assets. DefiLlama data showed Binance’s rolling 24-hour net outflows briefly reached $5.817 billion, while OKX, Robinhood, and Bybit recorded varying levels of net inflows over the same period.
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Stolen Binance funds continue moving across chains, exposing governance challenges across DeFi’s cross-chain infrastructure. The FBI has attributed the attack to North Korea’s TraderTraitor, published associated addresses, and called on DeFi platforms, cross-chain protocols, and node operators to help block transactions. Attackers nevertheless continue dispersing assets across multiple public blockchains and cross-chain protocols. Separately, an Ethereum single-block reorganization on October 31 caused THORChain to mistakenly pay out 10 ETH that had never actually arrived, triggering an automatic circuit breaker and pausing trading across multiple chains. The pause also unexpectedly slowed the movement of some stolen funds. Although the ETH has since been returned and the vault’s solvency restored, the incident highlights cross-chain protocols’ reliance on underlying blockchain finality, node-level risk controls, and emergency pause mechanisms. Beyond the amount recovered, attention should focus on whether protocols can balance normal transaction efficiency, asset security, and the interception of suspicious funds. Following several security incidents, the safety of on-chain routing and cross-chain infrastructure may become an increasingly important factor in users’ choice of platform.
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🔥 Alpha Token Performance
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LIT: Lighter’s plans to apply for U.S. CFTC derivatives licenses, alongside progress in its Robinhood Chain ecosystem deployment, have attracted market attention. The token rose approximately 12% over 24 hours, with trading volume of about $117 million.
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G: Gravity’s mainnet migration constrained liquidity on some exchanges and widened cross-platform price gaps, with arbitrage activity driving a short-term rally and higher volume. The token gained approximately 10% over 24 hours, with trading volume of about $93.7 million.
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NEAR: Attention centers on the token issuance proposal vote closing November 2, which would gradually lower the maximum annual issuance rate from 2.5% to 1.6%. Expectations of slower supply growth supported the token, which rose approximately 8.5% over 24 hours on trading volume of about $870 million.
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DACITYCOIN: The fictional cryptocurrency DacityCoin featured in the GTA VI trailer sparked speculation in a meme token of the same name, sending it up more than 50% over 24 hours.
Macroeconomy
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Middle East: Iranian representatives traveled to Doha over the weekend for continued discussions with mediators including Qatar and Pakistan. Iran has agreed to a “two-day plan”: the U.S. would take steps to fulfill its commitments on the first day, followed by the reopening of the Strait of Hormuz on the second. Iran would resume talks with the U.S. only after Washington fulfills its commitments. In a phone call with Trump, Netanyahu urged military action against Iran immediately after the U.S. midterm elections, while Trump expressed a preference for allowing negotiations to continue.
Industry Developments
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Polymarket is expanding its partnership with Chainlink and will launch 15-minute gold and silver price prediction markets.
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Italy is proposing a 33% exit tax on crypto holders relocating abroad, including taxation of unrealized gains.
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OnePay and Stripe have launched stablecoin deposits, supporting direct conversion of USDC into U.S. dollars across 12 blockchains.
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Uniswap has introduced TJAR, an on-chain fee conversion framework that allows applications to automatically convert fees collected in multiple tokens into a designated token.
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Brazil’s application window for virtual asset service provider licenses has closed, with only around 40 companies submitting applications.
Week Ahead
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November 2: U.S. October ISM Manufacturing Index; final eurozone October Manufacturing PMI; BTW unlock equivalent to 3.37% of circulating supply, worth approximately $114 million; ZAMA unlock equivalent to 10.92% of circulating supply, worth approximately $18.58 million.
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November 3: U.S. midterm elections; Apple earnings; South Korea’s October CPI; KITE unlock equivalent to 17.42% of circulating supply, worth approximately $75.6 million.
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November 4: U.S. October ISM Services Index; U.S. October ADP Employment Change; eurozone October CPI; Circle and AMD earnings; MMT unlock equivalent to 294.38% of circulating supply, worth approximately $32.3 million.
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November 5: U.S. initial jobless claims for the week ending October 31; Bank of England policy rate decision; Bank of Japan’s September monetary policy meeting minutes; Qualcomm and Coherent earnings; ENA unlock equivalent to 0.7% of circulating supply, worth approximately $17.7 million.
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November 6: U.S. October nonfarm payrolls and unemployment rate; Lumentum earnings.
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November 8: STABLE unlock equivalent to 4.93% of circulating supply, worth approximately $23.01 million; AVAX unlock equivalent to 0.3% of circulating supply, worth approximately $14.7 million.
