The crypto market began November 2 with a cautious recovery: bitcoin is gaining in price, altcoins are showing mixed dynamics, and against the backdrop of institutional and regulatory news, several important storylines are forming at once — from the audit of Korean banks to the unscheduled halt of the cross-chain protocol THORChain.
Market cap leaders return to growth
As of 07:35 (Moscow time), bitcoin is trading at $78,567 (about ₽6,329,145). Over the past 24 hours, BTC's low was $77,545 and its high was $78,724. The second-largest cryptocurrency by market cap, Ethereum, also started the day with growth and is trading at $2,306 (approximately ₽185,765).
Among the top 10 largest digital assets, the best result over the past 24 hours (+2.99%) was recorded by Zcash, and over the week (+17.38%) by Hyperliquid. The largest weekly losses were suffered by Solana (-5.07%). Over the past 24 hours, all coins except stablecoins increased in price.
In the top 100, the best daily dynamics were shown by OFFICIAL TRUMP (+8.01%), and the best weekly by Hyperliquid (+17.09%). The sharpest 24-hour decline was in Plasma (-16.94%), while the largest weekly losses were recorded by Curve DAO Token (-18.46%).
Liquidations and market sentiment
Over the past 24 hours, positions of 48,439 traders were liquidated for a total of $160 million. Liquidations were distributed almost evenly: $82.41 million in short positions versus $77.58 million in long positions. The largest single liquidation order occurred on the Hyperliquid exchange for the BTC-USD pair — $4.01 million.
The Fear and Greed Index rose to 37 points, remaining in the fear zone. A day earlier the figure was 34 points, a week ago — 50 (neutral zone), a month ago — 67 points (greed zone).
Crypto companies under pressure
Among public companies linked to digital assets, the sharpest declines were in shares of Coinbase (COIN) — down 10.62%, Hut 8 (HUT) — down 10.60%, and Circle (CRCL) — down 9.31%. IREN (-8.76%), TeraWulf (-8.00%), and Strategy (MSTR) — down 7.84% — also fell in price. The only exception was GameStop (GME) stock, which gained 0.96%.
Key morning news
Regulatory pressure in South Korea. The country's central bank is checking how vulnerable local banks and brokers are to cryptocurrency-related risks. A survey was sent to 18 banks and 13 brokerage firms: they are being asked about the volume of investments in crypto companies and about potential damage in the event of a suspension of the country's largest exchange following a hack. Responses are due by Wednesday. The review began even before the $6.3 billion Binance incident, but it is precisely that incident that clearly demonstrates the scale of the regulator's concern. In parallel, Korean financial companies are testing stablecoins, although the dedicated digital asset law is stalled due to disputes over who should be allowed to issue them.
THORChain halted swaps. The cross-chain protocol suspended operations on 10 networks, including bitcoin, Ethereum, Solana, and Tron, due to a discovered bug. The failure manifested when the Ethereum network replaced one of its recent blocks with another, and a deposit of 10 ETH that THORChain had already accounted for effectively disappeared. As a result, the protocol paid out an extra 10 ETH and automatically halted operations. Malicious actors could now exploit this vulnerability, so swaps will resume only after the risk is eliminated. The pause accidentally prevented North Korean hackers from laundering funds stolen in the $6.3 billion Binance hack: while the service is down, swaps through most THORChain bridges are impossible.
DeepSeek is preparing autonomous AI agents. The Chinese AI company presented the concept of more independent AI assistants for programming, capable of performing several tasks at once with minimal human involvement. According to DeepSeek, a human can simultaneously monitor only 3–5 working AI agents, whereas the new system will distribute tasks and coordinate them itself, leaving people to verify results and make decisions. The development emerged amid intense competition with Anthropic and OpenAI. DeepSeek has surprised the market before: in last year's cryptocurrency trading experiment, it became the only AI model to show a profit, and its creation cost significantly less than American counterparts.
Cryptalist analysis: The combination of bitcoin's growth, the Fear and Greed Index holding in the fear zone, and the nearly even liquidations of longs and shorts points to a fragile market equilibrium without a sustained directional impulse. Cryptalist's institutional view: the THORChain pause and the audit of Korean banks increase regulatory and infrastructural pressure, which in the short term will restrain risk appetite despite the local recovery in prices.