Key Takeaways
- • U.S. spot bitcoin ETFs lost $399 million on Monday, Nov. 2, their second straight day of outflows, according to Farside Investors, with BlackRock's IBIT shedding $405 million, its largest daily outflow since June.
- • Binance customers have withdrawn a net $4.72 billion since the exchange reopened on Sunday, up from $3.64 billion that day, following a string of attacks on crypto platforms.
- • Bitcoin edged up 0.2% to around $76,900 after dipping to about $76,300 in the European morning, while ether gained 0.6% and the CoinDesk Memecoin Index lost 0.8%.
- • Crypto futures volume rose 51% in 24 hours to $168.1 billion while open interest fell 1.63% to $134.9 billion, pointing to trading rather than directional positioning ahead of U.S. midterm elections.
- • Implied volatility on the nearest-dated bitcoin options rose to about 51% from 43.5%, with short-term put skew well above longer-dated levels, signaling higher near-term demand for downside protection.
Summary
Bitcoin edged up 0.2% to around $76,900 since midnight UTC on Nov. 3, 2026, after dipping to around $76,300 in the European morning, according to CoinDesk. The move came as U.S. spot bitcoin ETFs lost $399 million on Monday, their second straight day of outflows, per Farside Investors. BlackRock's IBIT accounted for $405 million of the redemptions, its largest daily outflow since June.
Exchange flows were also weak. Binance customers withdrew a net $4.72 billion since the exchange reopened on Sunday, up from $3.64 billion on that day. The outflows followed a series of attacks on crypto platforms, including Brazil's Mercado Bitcoin, where an estimated $40 million was drained from hot wallets, according to security firm Hypernative.
Macro conditions were mixed. Nasdaq futures rose 0.3% and Brent crude gained 1.3% to around $106 since midnight UTC, after the Nasdaq Composite fell 1.1% on Monday as tech stocks sold off again. U.S. voters were heading to the polls for the midterm elections, with AMD reporting after the close and the jobs report due Friday.
Derivatives data pointed to trading activity rather than conviction. Crypto futures volume rose 51% to $168.1 billion over 24 hours while open interest fell 1.63% to $134.9 billion. Liquidations jumped 171% to $382.6 million, and 51.12% of taker volume was on the sell side. Implied volatility on the nearest-dated bitcoin options climbed to about 51% from 43.5% for the Nov. 4 expiry the previous day, with ether at about 59%. Short-term put skew remained well above longer-dated levels for both assets. In ether, all six of the most traded options were puts, led by the Nov. 6 $1,900 put, about 16% below spot.
Altcoins were mixed. Ether rose 0.6% to around $2,262 and the DeFi index gained 0.5%, with Aave up 1.5%. Near fell about 7% over 24 hours despite its House of Stake governance body voting to cut maximum annual token issuance to 1.6% from 2.5%. Zcash fell about 7.6% in futures-linked selling tied to a dispute over its community grants program before recovering 1.2% to around $1,146, ahead of the NU7 network upgrade expected this week. Lighter's LIT token gained 2.3% as the perpetual futures exchange prepares to apply to the CFTC for trading venue and clearing house registrations this month, according to founder Vladimir Novakovski, though a filing would only start a review. CoinMarketCap's fear and greed index slipped to 34 from 36, in "fear" territory, while its altcoin season index held at 46.
Exchange flows were also weak. Binance customers withdrew a net $4.72 billion since the exchange reopened on Sunday, up from $3.64 billion on that day. The outflows followed a series of attacks on crypto platforms, including Brazil's Mercado Bitcoin, where an estimated $40 million was drained from hot wallets, according to security firm Hypernative.
Macro conditions were mixed. Nasdaq futures rose 0.3% and Brent crude gained 1.3% to around $106 since midnight UTC, after the Nasdaq Composite fell 1.1% on Monday as tech stocks sold off again. U.S. voters were heading to the polls for the midterm elections, with AMD reporting after the close and the jobs report due Friday.
Derivatives data pointed to trading activity rather than conviction. Crypto futures volume rose 51% to $168.1 billion over 24 hours while open interest fell 1.63% to $134.9 billion. Liquidations jumped 171% to $382.6 million, and 51.12% of taker volume was on the sell side. Implied volatility on the nearest-dated bitcoin options climbed to about 51% from 43.5% for the Nov. 4 expiry the previous day, with ether at about 59%. Short-term put skew remained well above longer-dated levels for both assets. In ether, all six of the most traded options were puts, led by the Nov. 6 $1,900 put, about 16% below spot.
Altcoins were mixed. Ether rose 0.6% to around $2,262 and the DeFi index gained 0.5%, with Aave up 1.5%. Near fell about 7% over 24 hours despite its House of Stake governance body voting to cut maximum annual token issuance to 1.6% from 2.5%. Zcash fell about 7.6% in futures-linked selling tied to a dispute over its community grants program before recovering 1.2% to around $1,146, ahead of the NU7 network upgrade expected this week. Lighter's LIT token gained 2.3% as the perpetual futures exchange prepares to apply to the CFTC for trading venue and clearing house registrations this month, according to founder Vladimir Novakovski, though a filing would only start a review. CoinMarketCap's fear and greed index slipped to 34 from 36, in "fear" territory, while its altcoin season index held at 46.
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