🇺🇸 US STOCKS & CRYPTO MARKET REPORT Monday 3rd November

🌐 DELTANODE | DAILY MARKET & CRYPTO REPORT 📅 3 November 2026

━━━━━━━━━━━━━━━━━━

📊 MARKET OVERVIEW

Crypto markets remain under pressure as Bitcoin slipped approximately 2% overnight, trading around $77,019. BTC has fallen below the $78,000–$79,000 demand zone where Glassnode previously identified buyers stacking bids.

The Fear & Greed Index has dropped to 34 (Fear), reflecting weakening sentiment and continued uncertainty. Meanwhile, the Altcoin Season Index stands at 46/100, indicating that the market remains Bitcoin-dominant.

Market Snapshot:

• ₿ Bitcoin: $77,019 | -0.94%
• Ξ Ethereum: $2,264 | -0.79%
• 🌐 Total Crypto Market Cap: $2.59T | -0.82%
• 📊 24H Trading Volume: $63.87B | +34.84%
• ₿ Bitcoin Dominance: 59.92% | -0.05%
• 😨 Fear & Greed: 34 (Fear)
• 🔄 Altcoin Season Index: 46/100

Key Observation: BTC is trading below the previous $78K–$79K demand zone. The next important test is whether buyers can reclaim this area or whether continued ETF outflows and weak sentiment push prices lower.

━━━━━━━━━━━━━━━━━━

📰 LATEST CRYPTO NEWS

1️⃣ Horizen Users Face November 4 Deadline to Bridge Assets

Horizen is shutting down its Layer 3 network on Base and has instructed users to bridge their ZEN, ETH and USDC.e assets to Base before 13:00 UTC on Wednesday, November 4.

The shutdown is connected to Base's upcoming Denim upgrade, which introduces 200-millisecond block times on November 5. Horizen says its chain cannot support the upgrade.

Approximately 40 minutes after the Denim upgrade activates, Horizen will stop including user transactions.

⚠️ Users holding assets on the network should complete the migration before the deadline, particularly those holding USDC.e.

2️⃣ Bitcoin ETFs Record Their Biggest Outflow Since June

US spot Bitcoin ETFs experienced approximately $643.2 million in net outflows on October 30, marking their largest single-day withdrawal since June 25.

• BlackRock IBIT: $201 million outflow
• Bitwise BITB: $129.5 million outflow

Market strategists caution against interpreting one day of withdrawals as a definitive bearish signal. Outflows can reflect profit-taking, institutional portfolio adjustments or the unwinding of basis trades.

However, persistent ETF outflows alongside weakening BTC prices could indicate continued institutional selling pressure.

3️⃣ Strategy Purchases Another 811 BTC

Michael Saylor's Strategy acquired another 811 BTC for approximately $65.5 million during the week ending November 1.

Its total Bitcoin holdings have increased to 849,327 BTC.

Key details:

• Average purchase price: $80,846 per BTC.
• Bitcoin currently trades below Strategy's latest average purchase price.
• Strategy raised $164 million through MSTR share sales.
• The company spent more on STRC preferred stock buybacks than on Bitcoin purchases during the period.

Despite the latest acquisition, Strategy continues to demonstrate its long-term commitment to Bitcoin accumulation.

4️⃣ Nvidia, Nike and Costco Object to Tokenized Shares

Nvidia, Nike, Costco and nine other major companies have objected to tokenized versions of their shares listed on OKX.

The total number of companies appearing in the October 30 notice has reached 50.

The number has increased rapidly:

• October 19: 16 companies
• October 28: 38 companies
• October 30: 50 companies

The companies have not publicly explained their objections.

The development highlights growing friction between traditional equity ownership structures and emerging blockchain-based financial products. It also raises questions about regulatory exemptions and the legal rights attached to tokenized shares.

5️⃣ ZachXBT Investigates Suspected $106 Million Exchange Account Theft

Blockchain investigator ZachXBT reported a suspected theft exceeding $106 million from several centralized exchange accounts belonging to an unnamed European entity.

The incident reportedly occurred on Sunday.

According to the investigation:

• Funds were withdrawn in USDC and USDT.
• The attacker moved funds through swaps and cross-chain bridges.
• Some funds were converted into Monero (XMR) to complicate tracking.
• ZachXBT expressed high confidence that North Korea's Lazarus Group was not responsible.

The incident highlights continuing security risks associated with centralized exchange accounts and the importance of institutional custody controls.

━━━━━━━━━━━━━━━━━━

🌍 GLOBAL MACRO & FINANCIAL MARKETS

🍎 Apple Delivers Record Revenue but Faces Margin Pressure

Apple reported fiscal fourth-quarter revenue of $114.5 billion, representing 12% year-over-year growth.

Other highlights:

• Earnings per share: $2.10 versus $1.99 expected.
• iPhone revenue: $57.6 billion, up 17%.
• Mac revenue: $10.8 billion, up 24%.
• Services revenue: $31.6 billion, a new record.

Despite the strong results, Apple shares declined after hours.

The concern is rising memory-chip costs, which are putting pressure on profitability.

Apple guided December-quarter gross margins to 45%–46%, down from 47.9% in the previous quarter.

The company also expects revenue growth of 7%–10% for the December quarter, while acknowledging supply constraints, particularly for Mac and iPad products.

Market Takeaway: Strong demand is not necessarily translating into stronger profitability. Rising semiconductor and memory costs remain an important risk for technology companies.

🛢️ Oil Rebounds After US Strikes on Iran's Qeshm Island

Oil markets experienced a sharp reversal following developments surrounding the Strait of Hormuz.

Brent crude initially fell more than 7% to settle at approximately $104.77 per barrel, while WTI settled at $96.46.

The decline followed reports that Iran could reopen the Strait of Hormuz within two days if its conditions were met.

However, US forces subsequently struck Iran's Qeshm Island.

Washington described the attacks as defensive operations intended to prevent Iran from targeting ships in the Strait of Hormuz.

Following the reports:

• Brent crude rebounded approximately 2.03% to nearly $107.
• WTI increased approximately 1.75% to $98.15.

Iran has stated that reopening Hormuz depends on the US ending its naval blockade. A draft proposal for further negotiations is reportedly circulating.

Market Takeaway: Oil markets remain highly sensitive to geopolitical developments. Any disruption to Hormuz could create renewed inflationary pressure, complicating the outlook for central banks and risk assets.

🗳️ US Midterm Elections

Americans are voting for all 435 House seats and 35 Senate seats.

Prediction markets have assigned:

• Democratic control of both chambers: 78% on Polymarket.
• Democratic control of both chambers: 74% on Kalshi.

More than $158 million has reportedly traded across these prediction markets.

Important Senate races include:

• Texas: James Talarico at 74%–76%.
• Maine: Troy Jackson at 73%.
• Michigan: Abdul El-Sayed at 78%.

The first polls close at midnight UK time, with additional results expected throughout the early hours.

The Senate races in Texas, Maine, Michigan and Pennsylvania are particularly important for determining the final political balance.

Market Takeaway: Political uncertainty could create short-term volatility, particularly across equities, government spending expectations, regulation and broader risk sentiment.

🤖 Palantir Reports Its Strongest Quarter but Shares Decline

Palantir delivered strong third-quarter results:

• Revenue: $2.3 billion, up 96%.
• Earnings per share: $0.44 versus $0.41 expected.
• US commercial revenue: $984 million.
• US government revenue: $953 million.
• Q4 revenue guidance: $2.64–$2.65 billion versus approximately $2.46 billion expected.

For the first time, US commercial revenue exceeded US government revenue.

Despite the strong results, shares declined as investors reassessed valuations and broader AI-sector exposure.

Palantir trades at approximately 230 times forward earnings, considerably above the roughly 35 times multiple cited for the Magnificent Seven.

Other technology stocks also faced pressure:

• Marvell: -12.7%.
• Oracle: -8.8%.
• Nasdaq Composite: -1.07%.
• S&P 500: -0.51%.
• Dow Jones: +0.41%.

South Korea's Kospi also declined 3.59%.

Market Takeaway: Strong earnings are no longer enough to guarantee share-price appreciation. Valuations, financing costs and expectations are becoming increasingly important for AI-related equities.

🔐 Binance Publishes Proof of Reserves Following Security Incident

Binance announced that it completed a zero-knowledge proof-of-reserves verification covering 10 cryptocurrencies:

BNB, BTC, ETH, RLUSD, SOL, USD1, USDC, USDT, XRP and ZEC.

The verification showed that all 10 assets were backed at least 1:1 at the snapshot time.

Binance also stated that it would absorb the financial impact of the stolen funds rather than passing the losses to customers.

According to the exchange:

• More than $6.3 billion was stolen.
• Approximately 95% of the stolen funds have been covered.
• Around $3 billion has been frozen on-chain.

However, an important distinction remains: the proof-of-reserves snapshot was taken at midnight UTC on October 31, before withdrawals reopened.

Following the reopening on Sunday, approximately $3.64 billion in net withdrawals occurred during the first 9.5 hours.

The published proof does not establish Binance's current financial position or provide a complete audit of its overall solvency.

Another snapshot is expected, covering additional tokens.

Market Takeaway: Proof of reserves improves transparency, but timing matters. A historical snapshot cannot independently establish an exchange's current liquidity or overall financial health.

━━━━━━━━━━━━━━━━━━

📌 TODAY'S STORIES AT A GLANCE

🍎 Apple: Record $114.5B revenue, but rising memory costs push gross-margin guidance down to 45%–46%.

🛢️ Oil: Brent initially dropped over 7% on hopes of a Hormuz agreement before rebounding toward $107 following US strikes on Iran's Qeshm Island.

🗳️ US Elections: Prediction markets assign a 74%–78% probability to a Democratic sweep of Congress.

🤖 Palantir: Revenue surged 96% to $2.3B, yet shares declined as investors questioned elevated AI valuations.

🔐 Binance: Proof of reserves showed 1:1 backing for 10 tokens at the October 31 snapshot, while $3.64B flowed out after withdrawals reopened.

🇦🇺 Australia: Reserve Bank of Australia raised interest rates to 4.85%, an 18-year high, in a 6–3 vote.

🏭 US Manufacturing: ISM manufacturing index increased to 55.5 in October, while construction spending declined 1.9%.

📈 Boston Scientific: The stock is approaching $46 resistance, with $39.60 as the recent low and $55 as the next level being watched.

━━━━━━━━━━━━━━━━━━

🧠 DELTANODE | MARKET TAKEAWAY

Three important themes are emerging across markets:

1. Bitcoin is facing institutional selling pressure.

The $643.2 million ETF outflow, declining sentiment and BTC trading below the $78K–$79K demand zone create a challenging short-term environment.

A single day of ETF outflows does not confirm a market bottom or a sustained bearish trend. We need to see whether institutional flows stabilize and spot demand returns.

2. Geopolitical risk is back in focus.

The situation around Iran and the Strait of Hormuz remains a major macro variable. A sustained increase in oil prices could feed into inflation expectations, bond yields and risk-asset valuations.

3. The AI trade is becoming more valuation-sensitive.

Apple and Palantir delivered strong earnings, but both faced selling pressure. Investors are increasingly looking beyond revenue growth toward margins, cash flows, financing requirements and valuation.

₿ Bitcoin Levels to Watch

• $77K: Current trading area and immediate support test.
• $78K–$79K: Previous demand zone; reclaiming this area would improve the short-term structure.
• $80K–$81K: Important recovery zone and overhead resistance area.
• $80,846: Strategy's latest reported average purchase price.

Final Assessment:

Markets are dealing with a combination of institutional outflows, geopolitical uncertainty and pressure on high-valuation technology stocks.

For Bitcoin, the immediate priority is whether the $78K–$79K zone can be reclaimed. Until buyers demonstrate stronger spot demand and ETF flows stabilize, a cautious approach remains appropriate.

At DeltaNode, we continue to prioritize confirmation across price action, liquidity, derivatives positioning, macro conditions and institutional flows rather than reacting to individual headlines.

━━━━━━━━━━━━━━━━━━

Δ DELTANODE | DATA OVER NOISE. STRUCTURE OVER SPECULATION.