Overview
- More than $1.3 billion in leveraged positions were liquidated in 24 hours, with roughly 90% from longs and the largest single wipeout a $47.9 million BTC long on HTX.
- U.S. spot Bitcoin ETFs posted $186.5 million in net outflows on Nov. 3, marking a fourth straight day and over $1.34 billion pulled since late October, with Ethereum ETFs also recording withdrawals.
- Federal Reserve signals that further rate cuts are not assured, reinforced by remarks from officials Lisa Cook and Mary Daly, strengthened the dollar and weighed on risk assets.
- DeFi setbacks intensified risk aversion, with Stream Finance disclosing a $93 million loss after a manager’s actions and a recent $128 million Balancer exploit raising contagion concerns and estimates of elevated lending bad debt.
- Market sentiment fell into ‘Extreme Fear’ as the Fear & Greed Index hit 21, Bitcoin hovered near $103,000–$104,000, and major altcoins extended declines, including double‑digit drops in Solana and mid‑single‑digit losses in Ethereum and XRP.