The night session of November 6 was marked by a sharp surge in volatility: the digital asset market faced a wave of forced position closures, major infrastructure players are revising their strategies, and US regulators have stepped up scrutiny of the banking sector amid the fallout from the Binance hack.
Dynamics of the market cap leaders
Bitcoin started the day in decline. As of 07:35 (MSK), BTC was trading around $75,712 (approximately ₽6,192,840 per token). The 24-hour range spanned from a low of $75,114 to a high of $80,703.
Ethereum, the second-largest asset by market cap, also opened trading in the red — around $2,230 (roughly ₽182,402 per coin).
Among the top-10 cryptocurrencies, the best performer over the past 24 hours was TRON (-0.39%), and over the week — Ethereum (-0.43%). The largest losses over 24 hours were recorded by Ethereum (-8.17%), and over the week — by Hyperliquid (-15.71%).
Liquidations and market sentiment
Over the past 24 hours, positions of 238,334 traders were forcibly closed for a total of $1.25 billion. The main blow fell on long positions — $1.11 billion versus $141.32 million in shorts, which is explained by the sharp evening market crash. The largest single liquidation order was recorded on Binance for the ETH-USDT pair — $10.94 million.
The Fear and Greed Index dropped to 28 points and moved into the fear zone. A day earlier the reading was 50 points (neutral zone), a week ago — 30 points, and a month ago it stood at 71 points, in the greed zone.
Public crypto companies
Among public companies tied to digital assets, the best results were shown by shares of BitMine Immersion (BMNR) — up 5.85%, Strategy (MSTR) — up 5.09%, and Coinbase (COIN) — up 4.16%. SoFi Technologies (SOFI) also gained 3.64%, GameStop (GME) 3.58%, and Robinhood (HOOD) 2.02%. The steepest declines were in Hut 8 (HUT) — down 23.23%, IREN (IREN) — down 11.24%, and TeraWulf (WULF) — down 6.62%.
Key morning events
Core Scientific will fully exit mining by the end of 2026 and focus on data centers for AI. In 2027 the company plans to emerge as an infrastructure provider for high-performance computing. Mining is already barely profitable: in the third quarter it brought in only $17.5 million, or 7.5% of revenue, while hosting client equipment generated $215.4 million. The pivot to AI began in 2024 with contracts with CoreWeave, and was then accelerated by low bitcoin prices and falling mining profitability. The new direction also faces risks: after the Democrats' victory in the US elections, resistance to data center construction intensified due to rising electricity bills.
Exchanges Binance and Deribit revoked the API keys of the SignalPlus platform, through which professional traders trade crypto options. The trigger was the hack of SignalPlus itself: an attacker seized the Telegram account of an acquaintance of a company contractor and sent an engineer a fake invitation to a Microsoft Teams meeting, infecting his computer. He then used the engineer's access to penetrate the platform's internal network. The damage amounted to about $82,000; the SignalPlus team promised to fully reimburse users. The company admitted it had not restricted access to exchange APIs to allowed IP addresses and promised to tighten security. The attack echoes the recent $6.3 billion Binance hack, which also began with an infected employee computer.
The Fed and the banking regulator OCC, following the $6.3 billion Binance hack, began contacting US banks to find out whether they had any suspicious activity or disruptions. The banks themselves are also testing their systems for resilience to such attacks. The cybersecurity team of one of the largest banks contacted Binance several hours after the hack. Experts see this not as a sign of regulators turning against the crypto industry, but as a normal risk check. However, the attack method used on Binance is also dangerous for traditional banks, especially those that hold clients' cryptocurrency: hackers no longer need to break encryption if they can seize the computers and accounts of employees with the right to transfer money.
Cryptalist analysis: The combination of record liquidations of $1.25 billion and the Fear and Greed Index moving into the fear zone signals capitulation of overleveraged longs and the formation of a local bottom amid persistent structural weakness. Core Scientific's exit from mining in favor of AI infrastructure reflects a fundamental shift in the industry's economics, where hashprice yields lag behind demand for computing. At the same time, the chain of security incidents — from SignalPlus to Binance — and the OCC joining bank checks point to growing systemic risks via the human factor, which requires institutional participants to revisit their cyber resilience models.