The cryptocurrency market experienced a significant downturn today, Monday, November 3, 2025, with the global market capitalization declining by approximately 3% to 3.64%, settling between $3.59 trillion and $3.69 trillion. This broad sell-off resulted in over $395.7 million to $400 million in leveraged positions being liquidated within 24 hours, impacting more than 162,000 traders. Market sentiment reflected this caution, with the Fear & Greed Index dropping to 36 (Fear). A primary driver for the market's contraction was renewed hawkish remarks from the U.S. Federal Reserve, with Chair Jerome Powell indicating that a December interest rate cut is not a "foregone conclusion," which strengthened the U.S. dollar and dampened investor appetite for risk assets. Additionally, Bitcoin ETFs registered substantial outflows, with $1.15 billion withdrawn from U.S. spot Bitcoin ETFs last week.
Major cryptocurrencies bore the brunt of the sell-off. Bitcoin (BTC) slipped below $108,000, trading around $107,337 to $107,963 after a 24-hour decline of 2.8% to 3.26%. Analysts noted that Bitcoin is currently hovering near a critical support range of $106,000 to $108,000, with a potential dip to $105,000 if the bearish trend persists. Conversely, some market observers view the $107K level as a strong buying opportunity before a potential surge past $120,000. Ethereum (ETH) also saw significant losses, dropping below $3,800 to trade around $3,611 to $3,724, marking a 24-hour loss of 3.8% to 6.41%. Ethereum faces technical support around $3,650-$3,700, with a breach potentially leading to deeper corrections towards $3,512 or even $3,000.
Among the trending coins, several experienced notable movements. Zcash (ZEC) showed strength with a 5.93% increase to $413.37, while ChainOpera AI (COAI) also posted a gain of 4.48% to $1.36. However, the broader AI-focused crypto sector led losses today, with ChainOpera AI specifically dropping over 10% according to some reports. Dash (DASH) saw a modest gain of 3.17% to $91.21, though the PayFi segment, which Dash is part of, reportedly surged over 33%. On the downside, Kite (KITE) experienced a sharp decline of 32.53% to $0.079, despite the AI-powered payment blockchain developed by PayPal going live on Binance Launchpool today. ZKsync (ZK) also fell significantly by 25.69% to $0.048, contrasting with reports of the Layer 2 sector rallying over 30%. The Balancer (BAL) token was down 11.36% to $0.87, amidst news of a suspected $70 million DeFi exploit involving the protocol. In corporate news, Strategy (formerly MicroStrategy) continued its accumulation strategy, purchasing an additional 397 BTC for approximately $45.6 million, bringing its total holdings to 641,205 BTC. Separately, BitMine Immersion Technologies announced its ETH holdings reached 3.4 million tokens, with total crypto and cash holdings of $13.7 billion, solidifying its position as the leading Ethereum treasury.