Bitcoin held near $78,100, adding 0.12% over the 24-hour period, while Ethereum outperformed with a 0.67% gain to $2,284, according to verified market data. The modest advance came as Binance resumed withdrawals for ETH and other assets following its phased recovery from a $6.3 billion hack, CoinMarketCap reported. The exchange's restoration of access provided relief after days of frozen funds, though broader market sentiment remained subdued.
CoinMarketCap noted that Bitcoin's price action reflected consolidation with market sentiment "deep in 'Fear' territory" and weekly losses still weighing on the asset. Ethereum's slight outperformance was attributed to an oversold technical bounce, with the Relative Strength Index near 32, and reduced immediate sell-side pressure following the Binance incident. No major coin-specific catalysts emerged to drive directional moves.
Altcoins showed mixed performance. Solana declined 1.33% to $94.32, while BNB and XRP traded nearly flat, down 0.07% and 0.38% respectively. Privacy coin Zcash rose 2.81% as Binance reopened ZEC withdrawals, CoinMarketCap reported, though the move was tied to exchange operations rather than fundamental developments. Uniswap experienced a 4.36 percentage-point swing driven by forced selling linked to the Binance wallet hack, followed by a rebound supported by protocol fundamentals, according to CoinMarketCap.
The Binance breach continued to reverberate across DeFi protocols. Aave froze lending across 16 networks in response to the hack, creating immediate selling pressure, CoinMarketCap noted. TRON underperformed significantly, falling 4.75% to $0.310, with the decline attributed to selling pressure from stolen funds. Smaller tokens also felt the impact: Plasma (XPL) experienced a liquidation cascade of large leveraged long positions on Hyperliquid, according to TokenPost via CoinMarketCap.
In regulatory developments, Moscow Exchange announced plans to launch regulated Bitcoin, Ethereum and USDT trading on December 1, CoinMarketCap reported, marking a notable step for institutional access in Russia. The Cardano Foundation joined a Swiss group to support tokenized shares, representing progress toward regulated real-world asset integration, according to CoinMarketCap. However, no immediate price impact was observed from these announcements.
Stock Markets
U.S. equities sold off sharply, with the Nasdaq 100 falling 3.47% and the S&P 500 dropping 1.77%, while the Dow Jones Industrial Average declined 1.07%. The tech-heavy Nasdaq bore the brunt of the selloff as investors positioned ahead of Tuesday's midterm elections and Friday's October jobs report, according to Bloomberg and The Wall Street Journal.
Bloomberg reported that Wall Street was bracing for continued volatility, with the week's calendar packed with earnings reports and labor-market data that could influence the Federal Reserve's rate trajectory. The Wall Street Journal noted that forecasters expect October job growth to more than double to 65,000, with the unemployment rate holding steady at 4.2%. A stronger-than-expected report could keep the Fed on track to raise rates again, adding pressure to risk assets.
The housing sector showed signs of strain. D.R. Horton reported fiscal fourth-quarter net income of $741.8 million, or $2.67 per share, down from the prior year, as rising mortgage rates weighed on orders and boosted cancellations, according to The Wall Street Journal. The home builder warned that the slump is likely to continue in fiscal 2027. CNBC noted that six Club stocks were reporting earnings this week, with results likely to influence near-term market direction alongside the jobs data and election outcomes.
Gold & Commodities
Gold tumbled 3.47% and silver plunged 5.67%, marking sharp declines for precious metals. The selloff occurred without clear commodity-specific catalysts in the research items, though the moves coincided with broader risk-off sentiment and positioning ahead of key U.S. economic data. Natural gas declined 1.09%.
Oil
U.S. oil edged up 0.38%, holding near recent levels as OPEC and its allies agreed to keep production steady in December, according to The Wall Street Journal. The decision by seven core members—Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan and Oman—came as geopolitical risks remained elevated, with concerns that the U.S. could resume strikes against Iran after the midterm elections. The Wall Street Journal noted that oil prices have stayed above key levels despite the production decision, with Gulf shipping routes remaining under threat.
Macro & Global Drivers
Tuesday's U.S. midterm elections will take center stage this week, with control of the House and Senate at stake, according to The Wall Street Journal. The outcome could influence fiscal policy and regulatory direction for the next two years. Friday's October jobs report is expected to show monthly job growth more than doubled to 65,000, with the unemployment rate holding at 4.2%, Bloomberg reported. A strong report could reinforce expectations that the Federal Reserve will raise rates again.
The Bank of England is expected to raise interest rates this week, with rate decisions also due in Sweden, Norway, Brazil and Mexico, The Wall Street Journal reported. In Asia, central bank decisions in Australia and Malaysia are scheduled. The Reserve Bank of Australia's two-day meeting, ending Tuesday, is expected to raise the official cash rate to 4.85%, its highest level in 18 years, according to The Wall Street Journal. The decision comes against a backdrop of plunging house prices and persistently high inflation.
China's manufacturing activity expanded for the 11th straight month in October, The Wall Street Journal reported, providing a bright spot in the global economic picture. However, the data had limited immediate impact on risk sentiment as investors focused on U.S. political and economic developments.
What to Watch Next
Friday's October jobs report will be critical for Fed rate expectations, with forecasters looking for 65,000 new jobs and a 4.2% unemployment rate. Tuesday's U.S. midterm elections could shift the political landscape and influence regulatory direction for crypto and tech. Binance's full operational recovery and any further developments from the $6.3 billion hack investigation will remain in focus for digital-asset markets.
Mo Rawaha is an AI editorial persona used by Knightron Journal to represent content produced through Knightron's AI-assisted editorial workflow. Mo Rawaha is not a real journalist, employee or founder; the name is an editorial identity, not proof of authorship by a real individual.
