Crypto 03.11.2026: BTC $77,800, ZEC +7.3%

Global Crypto Market on 3rd November: Morning dip to $76,000, evening recovery; Zcash leads the day

On Tuesday, 3rd November, the global cryptocurrency market experienced a volatile but ultimately upward-trending day against the backdrop of the US midterm elections. According to CoinGecko and crypto.news, in the morning (approx. 06:40-08:56 GMT), Bitcoin traded around $76,455-$76,466, representing an approximate 2.2% drop over 24 hours, while the total market capitalisation decreased by about 1.92%. Sentiment improved throughout the day: according to The Motley Fool, based on FMP and CoinGecko data (3rd November, 21:16 UTC), Bitcoin recovered to approximately $77,828 (approx. +1.5% during the day), Ethereum to $2,293.77 (+2.0%), while the most significant movement among major assets was Zcash (ZEC) with approximately +7.3%. The movements were dominated by the 29th October Binance hack, a cautious ("hawkish") tone from the US Federal Reserve (Fed), tech stock instability, and continued exchange-traded fund (ETF) outflows. This article is a compilation of facts and an analysis of causes, not investment advice.

Market Overview

Bitcoin's price trajectory on Tuesday was 'V'-shaped. In the morning, according to crypto.news and CoinGecko data (06:40-08:56 GMT), BTC traded around $76,455-$76,466, with an approximate 2.2% drop over 24 hours and about a 3.5% drop over the week; Bitcoin's market capitalisation at that time was approximately $1.54 trillion, and its 24-hour trading volume was about $26.9 billion. By the evening, the price had recovered: The Motley Fool (21:16 UTC) recorded BTC at around $77,828, with an approximate 1.5% increase during the day. According to crypto.news, Bitcoin approached $78,000 late on Tuesday evening before retreating as election results began to flow in. The technical picture remained weak: according to indicators cited by crypto.news, the daily RSI(14) was around 34, and the price remained below the $80,000 level, which the asset lost the previous week.

Ethereum followed a similar pattern. In the morning, ETH, according to crypto.news, was around $2,250, but by evening, according to The Motley Fool, it rose to $2,293.77 with an approximate 2.0% daily gain; over the week, ETH saw a decline of about 2.3%. In the altcoin segment, movement was uneven. According to The Motley Fool's compilation of CoinGecko data (3rd November, 21:16 UTC), Solana (SOL) traded around $93.70 (daily +2.0%, weekly approx. -7.5%), XRP around $1.28 (daily approx. +2.7%, weekly -3.4%), and BNB around $699.23 (daily +0.6%, weekly -6.5%). The most significant gainer among major assets for the day was Zcash (ZEC) with a price around $1,227 and an approximate +7.3% daily increase, although ZEC was also down about 5.7% over the week. Sources do not link the performance of XRP and Zcash to a specific event, so the causes of these movements remain unclear. Public sources did not consistently provide precise end-of-day values for total market capitalisation and Bitcoin dominance for the review day, so these are not stated as fact here.

What influenced the market

Tuesday's market movement was determined by a combination of factors, rather than a single cause. The first and most significant was the 29th October Binance hack (see 'Security Incidents' section), which, according to cryptoticker and Admiral Markets, continued to erode confidence and maintained heightened caution in risk assets.

The second factor was the macroeconomic background. According to Admiral Markets, the Fed maintained its base rate at 3.75-4.00% on 28th October with a 10-2 vote, and two committee members (Cook and Hammack) advocated for a rate hike – this is interpreted as a cautious, inflation-fighting tone. Futures markets, according to the same source, on 3rd November, priced in an approximate 85% probability of a 25 basis point rate hike on 9th December. Such a scenario reduces expectations of monetary policy easing, which would traditionally support risk assets. Additionally, the US Consumer Price Index in September, according to data cited by Admiral Markets, was 3.7% year-on-year (3.4% in August), confirming the persistence of inflation.

The third factor was tech stock instability. According to Trading Economics data cited by Admiral Markets, on 2nd November, the Nasdaq Composite index fell by 1.1% and the S&P 500 by 0.5%, with the semiconductor segment leading the decline (e.g., Micron -5.8%). On 3rd November, according to The Motley Fool, Nasdaq recovered by approximately 0.83% alongside semiconductor stocks. Bitcoin's price correlation with tech stocks remains high, so capital movements in this segment directly impact the crypto market.

The fourth factor was institutional flows. According to FinanceFeeds and crypto.news (referencing SoSoValue), US spot crypto ETFs experienced total net outflows of approximately $207.9 million on 3rd November (data provisional). Of this, spot Bitcoin ETFs lost approximately $115.56 million – already the third consecutive trading session with net outflows – with BlackRock IBIT seeing the largest single redemption of approximately $95 million. Ethereum ETFs lost approximately $85.3 million, of which about $74.4 million (over 87%) was through BlackRock ETHA. For comparison, on 2nd November, Bitcoin ETF outflows were $398.6 million, and on 30th October, approximately $643.3 million, meaning the pace of outflows on 3rd November decreased. Forced liquidations on the review day were moderate: according to CoinGlass data cited by crypto.news, approximately $88.8 million in Bitcoin positions were liquidated in 24 hours.

The fifth factor was political uncertainty. On 3rd November, the US held midterm elections, and, according to The Motley Fool and cryptoticker, market participants reduced leveraged positions before the results. The election outcome could influence expectations for fiscal spending, AI regulation, and digital asset policy. Sentiment was also characterised by the fear-greed index, which, according to alternative.me, was 37 points ('fear') on 3rd November, compared to 34 points the previous day.

Exchange and Industry Events

The industry story for the review day was primarily the aftermath of the 29th October Binance hack. According to a cryptoticker report, Binance had resumed some withdrawal operations by 3rd November, but the incident continued to weigh on market confidence. On the morning of the same day, according to cryptoticker, a security alert episode related to BTCPay Server also emerged, further dampening sentiment; this latter point is noted with caution as it is reflected by a single source and details are limited. Public sources did not confirm new, clearly dated large-scale trading disruptions or regulatory actions against specific platforms directly on 3rd November.

In the regulatory background, the fate of the US so-called CLARITY Act remains an issue. According to Admiral Markets and crypto.news, the bill failed to gain the necessary support in a procedural vote in the Senate in September, and its future progress remained uncertain. As the results of the 3rd November midterm elections could change the balance of power in Congress, the prospect of digital asset regulation became one of the market's focal points.

Security Incidents

The dominant security event of the review period is the 29th October Binance hack, which several sources refer to as the largest cryptocurrency theft in history. Initial reports (cryptonews.net) indicated approximately $2.8 billion withdrawn from the exchange's 'hot' wallet, but later estimates significantly increased the scale: according to NBC News and Axios reports (29th October), losses were estimated at approximately $6.3 billion, while blockchain analytics firms TRM Labs and Elliptic estimated the amount at approximately $6.36 and $6.4 billion respectively, linking the attack to North Korean-affiliated actors. Binance itself, according to StealthEX's compilation cited by Admiral Markets, estimated the amount at approximately $6.3 billion, emphasising that the estimate 'is not final'. The differences between the $2.8 billion and $6.3-6.4 billion figures are explained by the fact that the early figure referred only to one 'hot' wallet, while later figures referred to the total estimated impact. Immediately after the attack, according to cryptoticker, over $600 million in positions were liquidated within one hour, and the price of Bitcoin fell overnight from approximately $78,700 to approximately $76,000. This event predates the review day, but we include it because its aftermath was a key sentiment factor on 3rd November.

Additional, clearly dated new large-scale hacking or protocol exploitation incidents directly on 3rd November were not convincingly confirmed by public sources.

Context and Outlook

Tuesday's movement should be viewed in a broader context: according to crypto.news, Bitcoin was still trading below the $80,000 level and significantly below October highs, which were close to $86,000, so the day's recovery does not yet indicate a trend reversal. In the early morning of 4th November, according to crypto.news (published 4th November at 06:35 UTC), Bitcoin recovered above $77,000 after briefly falling to approximately $75,700 during the election vote count. According to NBC News projections cited by crypto.news, the Democratic Party was on track to control both houses of Congress, which renewed focus on cryptocurrency regulation and the fate of the CLARITY Act; several races, however, were still undecided on 4th November. These are early 4th November data, not events of the review day.

In the near term, market attention is likely to focus on several dated events. Firstly, on US labour market data – the October employment report, according to Admiral Markets, is expected on 6th November, and the October Consumer Price Index on 10th November. Secondly, on the Fed's 9th December decision, where futures markets priced in a high probability of a rate hike. Thirdly, on the dynamics of ETF flows – three consecutive sessions of outflows indicate cautious institutional sentiment, although the pace decreased on 3rd November. Several analysts cited by crypto.news indicate that after the Binance hack and election uncertainty, the market may remain sensitive to sharp fluctuations, and that there is no clear signal yet that a price bottom has been reached. This article is an informative overview and should not be considered investment advice; always conduct your own research before making decisions.

Sources

• The Motley Fool - "Crypto Market Today, Nov. 3: XRP and Zcash Defy Recent Weakness as Midterm Elections Take Center Stage" (03.11.2026): https://www.fool.com/coverage/stock-market-today/2026/11/03/crypto-market-today-nov-3-xrp-and-zcash-defy-recent-weakness-as-midterm-elections-take-center-stage/
• Admiral Markets - "Bitcoin Today: Why BTC Slips Toward $76,000 on 3 November" (03.11.2026): https://admiralmarkets.com/analytics/traders-blog/bitcoin-today-november-3-2026
• cryptoticker - "Why Is Crypto Down Today? The 5 Reasons Behind the November 3 Sell-Off" (03.11.2026): https://cryptoticker.io/en/why-is-crypto-down-today-november-3-2026/
• crypto.news - "Bitcoin price rebounds above $77K as Democrats sweep U.S. midterms, what's next?" (04.11.2026): https://crypto.news/bitcoin-price-democrats-midterm-election-results/
• FinanceFeeds - "US Crypto ETFs Record $208 Million in Outflows on November 3 as Bitcoin and Ethereum Lead Withdrawals" (04.11.2026): https://financefeeds.com/us-crypto-etfs-record-208-million-in-outflows-on-november-3-as-bitcoin-and-ethereum-lead-withdrawals/