What Happened Today in the Crypto Market? A Review of the Most Important Cryptocurrency News (November 3, 2026)

The cryptocurrency market on Tuesday, November 3, 2026, is experiencing volatility as the U.S. midterm elections, capital outflows from ETFs, and the consequences of the major Binance hack continue to overshadow investor sentiment.

U.S. Laws and Elections

The U.S. midterm elections are taking place today, and the future composition of Congress is crucial for financial markets and the crypto industry. Investors are closely watching the impact of the election results on digital asset legislation, in addition to fiscal policies and the debt ceiling. Polls and prediction markets suggest a serious possibility of a shift in congressional control before voting, although the final outcome remains uncertain.

In the Polymarket prediction market, a trader has wagered about $183,000 on the Republicans retaining both chambers, which could yield nearly $3 million if successful. Meanwhile, the Crypto Fear and Greed Index has reached a level of 34, indicating a state of "fear."

Bitcoin Under Pressure from ETFs; Tether Holds 150,000 BTC

Bitcoin has recovered some of its losses after dropping to around $76,300, but the outflow of $399 million from U.S. spot ETFs has kept the pressure on. BlackRock's IBIT fund alone recorded about $405 million in capital outflows, and implied volatility for short-term options has increased ahead of the election results.

On the other hand, Paolo Ardoino, CEO of Tether, announced that the company holds approximately 150,000 Bitcoins worth $11.5 billion. This figure does not necessarily mean a new purchase of 50,000 BTC, as part of Tether's assets are held outside of the reserves backing USDT.

Cipher Mining has also reported an accounting profit of $31.6 million as it moves towards AI data centers, although its Bitcoin mining revenue has decreased by 71%.

Altcoins; Pressure on Solana and Developments in Zcash, Lisk, and Aave

Selling pressure on Solana has increased; the wallet associated with the Binance hacker is converting about 970,000 SOL worth $95.9 million into Bitcoin, making the $90 support level for SOL even more significant.

In contrast, Zcash has integrated with NEAR Intents to expand its access to broader payment pathways. The Lisk network has officially shut down after 10 years of operation, but the LSK token remains on Ethereum, and the project plans to burn an additional 5.23 million LSK.

In the DeFi sector, Aave V4 deposits on Avalanche have reached a record $125 million. On the other hand, AWE has lost about 14% of its market value in one day, and derivatives data indicate an increase in short positions.

Exchanges, Hacks, and Network Security

The aftermath of the $6.3 billion Binance hack continues. Binance has replaced most of the affected assets and has gradually reopened withdrawals since November 1. Customers have withdrawn billions of dollars in assets since the reopening, and Morgan Stanley has simultaneously lowered its price target for Coinbase shares from $258 to $120.

In another case, an anonymous European entity has reportedly lost over $106 million from its accounts across several exchanges, with some assets converted to Monero; however, this loss has not yet been officially confirmed.

Blockchain Infrastructure; Liquid's Backing Returns and Controversial Arbitrum Action

The Liquid network has announced that its LBTC backing has returned to a one-to-one ratio with Bitcoin following a $320 million exploit in September. Meanwhile, the Arbitrum Security Council moved about $30 million in assets related to the Binance hacker without the attacker's private key signature, a move that has reignited discussions about the level of power concentration in layer two networks.

In a different area, Arthur Hayes has proposed a plan for futures contracts on AI processing costs, but the FLOP network is still in development, and its actual token has not yet entered the market.

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