Top Story
Crypto sold off on 5 and 6 November as a tech and AI stock rout spread into digital assets. Bloomberg reported that Bitcoin hit a seven-week low on 5 November, and CoinDesk said the CoinDesk 20 index lost 6.28% over 24 hours.
The sell-off also reflected rate expectations. October nonfarm payrolls rose 165,000, and unemployment fell to 4.1%. Kalshi traders priced a 79% chance of a Fed rate hike on 9 December. Bitcoin's 30-session correlation with the S&P 500 reached 0.80, according to Glassnode data.
Bitcoin spot ETFs posted $430.2 million in net outflows on 5 November, per Farside. Ether spot ETFs lost $99.97 million the same day. Liquidations exceeded $1.26 billion over 24 hours, with more than $1.1 billion coming from long positions.
Sentiment fell into fear. The Fear & Greed Index read 26, its lowest level of the past week. Bitcoin recovered the $76,000 level on 6 November, but the ETF outflow data for that day conflicts across sources.
Major Price Moves
Market Overview
Bitcoin ranked first at $76,043.47, up 0.39% over 24 hours, on $34.18B in volume. Ethereum ranked second at $2,247.11, up 0.68%, on $15.12B in volume. The majors held firm while smaller tokens drove the day's largest moves.
Top 10 Gainers
| Coin | Price | 24h % | 24h Volume | |
|---|---|---|---|---|
| GM GREEN MORNING | $0.005375 | 936.47% | $15,844,471 | |
| ASI Anti Super Inu | $0.0005459 | 83.35% | $9,183,038 | |
| SN92 ReinforcedAI | $6.4205 | 60.07% | $5,335,066 | |
| ONE Harmony | $0.0018115 | 57.97% | $76,576,152 | |
| GHX GamerCoin | $0.010506 | 31.53% | $5,107,495 | |
| AIN Infinity Ground | $0.145124 | 27.60% | $13,409,591 | |
| IDOL MEET48 | $0.02393 | 24.93% | $21,338,090 | |
| ICNT Impossible Cloud Network Token | $0.296204 | 21.51% | $24,831,215 | |
| LYN Everlyn | $0.029841 | 20.90% | $11,766,684 | |
| GEOD Geodnet | $0.274239 | 20.55% | $21,896,104 |
Top 10 Losers
| Coin | Price | 24h % | 24h Volume | |
|---|---|---|---|---|
| AINFT AINFT | $0.0000002037 | -10.52% | $9,519,951 | |
| USDT Anubis Bridged USDT | $1.2357 | -8.83% | $482,476 | |
| CAP Cap | $0.09937 | -7.49% | $16,454,287 | |
| CC Canton | $0.09481 | -7.07% | $20,707,795 | |
| M-BTC Merlin's Seal BTC | $48,163.53 | -6.65% | $49.27 | |
| FLUID Fluid | $2.3010 | -5.43% | $3,930,586 | |
| BAT Basic Attention | $0.12430 | -5.01% | $18,442,908 | |
| RAIN Rain | $0.005781 | -4.65% | $12,004,953 | |
| BCH Bitcoin Cash | $261.18 | -4.55% | $218,069,157 | |
| RUNE THORChain | $0.5883 | -4.44% | $121,079,799 |
Top 20 by Market Cap
| Rank | Coin | Price | 24h % | 24h Volume | Market Cap | |
|---|---|---|---|---|---|---|
| 1 | BTC Bitcoin | $76,043.47 | 0.39% | $34.18B | $1.53T | |
| 2 | ETH Ethereum | $2,247.11 | 0.68% | $15.12B | $274.59B | |
| 3 | USDT Tether | $0.999180 | 0.01% | $41.67B | $176.88B | |
| 4 | BNB BNB | $694.70 | 0.69% | $359.61M | $91.36B | |
| 5 | XRP XRP | $1.1690 | -3.10% | $2.68B | $74.25B | |
| 6 | USDC USDC | $0.999731 | 0.02% | $10.63B | $70.41B | |
| 7 | SOL Solana | $90.1876 | 0.52% | $2.87B | $53.30B | |
| 8 | TRX TRON | $0.318642 | -0.17% | $247.20M | $30.28B | |
| 9 | ZEC Zcash | $1,312.59 | 3.85% | $4.43B | $22.35B | |
| 10 | STETH Lido Staked Ether | $2,244.13 | 0.75% | $15.33M | $21.78B | |
| 11 | HYPE Hyperliquid | $79.1483 | 1.97% | $826.03M | $18.95B | |
| 12 | XMR Monero | $613.40 | -1.07% | $91.59M | $11.55B | |
| 13 | DOGE Dogecoin | $0.071949 | 0.64% | $582.57M | $11.27B | |
| 14 | WSTETH Wrapped stETH | $2,802.84 | 0.75% | $20.15M | $10.50B | |
| 15 | BSC-USD Binance Bridged USDT (BNB Smart Chain) | $0.999180 | 0.02% | $600.18M | $9.18B | |
| 16 | WBTC Wrapped Bitcoin | $75,915.89 | 0.44% | $127.57M | $8.82B | |
| 17 | USDS USDS | $1.000230 | 0.00% | $280.77M | $8.79B | |
| 18 | WBETH Wrapped Beacon ETH | $2,486.28 | 0.73% | $6.49M | $8.69B | |
| 19 | WBT WhiteBIT Coin | $73.0211 | 0.56% | $89.87M | $8.66B | |
| 20 | LINK Chainlink | $10.8525 | 1.17% | $331.69M | $8.32B |
Other Key Events
Binance hit by $6.3 billion theft
Reuters reported a $6.3 billion theft from Binance and attributed it to the TraderTraitor group. Reuters also reported that insurers are scrutinizing crypto security more closely. North Korea denied the accusation and refused dialogue with Washington, according to Reuters.
Vitalik Buterin urged exchanges to put survival ahead of market share, per Bitbase. Reuters' reporting is the basis for the attribution, and no official investigation result appears in the research.
Zcash activates NU7
Zcash activated the NU7 upgrade at block 3,543,405, at about 02:34 UTC on 6 November. The chain continued without a split. The target block interval fell from 75 seconds to 25 seconds.
About 12,224 ZEC in the Sprout pool became unspendable under the upgrade, according to Radar Digital. Some outlets dated activation to 5 November, but most cite 6 November.
In Brief
- GM GREEN MORNING: Elon Musk replied to a user with a red-tinted CZ meme on 6 November. Binance co-CEO He Yi reposted it, and the token surged. No source confirms CZ or Binance created, owns or endorsed GM. The rank feed shows 936.47%, while other trackers report gains up to 1,210%.
- ASI and SN92: No confirmed catalyst was found for either move. Trishool announced an EU partnership involving REAX, the SN92 subnet, on 6 November, but no source ties it to the rally.
- AINFT: No token-specific news was found for 5 to 7 November. The drop moved with the broad risk-off selloff.
- USDT Anubis and CAP: No trigger was found. Stargate's Anubis Chain support, announced 5 November, and Cap's Wake film financing, announced 4 November, predate the moves and are not linked to them.
- OKX-ICE tokenized stocks: Apple, Meta and Palantir objected to OKX-ICE's tokenized stock plan. Sources differ on the total, with one reporting 67 objectors and another 56 of 62 original issuers.
What to Watch
- Bitcoin's $76,000 level: it dropped below on 5 November and was recovered on 6 November. A daily close below it would restart the decline.
- Ethereum's $2,200 level: Ether trades at $2,247.11, and traders flagged $2,200 as the key downside marker.
- The 9 December Fed decision: Kalshi priced a 79% chance of a hike.
- Farside's 6 November Bitcoin ETF flow figure: sources report $411.9 million in outflows, while one Farside table shows $8.9 million. The next Farside print should settle it.
- GM withdrawals: LBank scheduled them to open at 18:00 UTC+7 on 7 November, which is 11:00 UTC.