# Two hacks in a week, and the market is pricing more fear than damage

Morning Brief · Morning Brief · Published November 4, 2026 · By [Anthony Asuaje](https://walkeranthony.com/about/), Walker Strategies
Canonical URL: https://walkeranthony.com/brief/2026-11-04/

Binance's $6.3B loss is now tied to Lazarus, and Mercado Bitcoin lost $46M yesterday. The market is down 2% and Fear & Greed is at 26, but ETF outflows of ~$400M are a fraction of last week's inflows. What I'm watching today: whether Binance's reserves hold steady. If withdrawals don't accelerate, fear is running ahead of the real damage.

## Crypto, last 24 hours

- Bitcoin: $76,401 (−0.6%)
- Ethereum: $2,248 (−0.3%)
- Solana: $91.01 (−1.2%)
- XRP: $1.26 (+0.5%)
- BNB: $685.52 (−1.5%)
- ETH/BTC: 0.0294 (+0.3%)
- Crypto market cap: $2.69T (−0.2%)
- Bitcoin dominance: 57.0%

## Flows & liquidity

- Bitcoin ETFs, net flow: −$398.6M · Mon, Nov 2 · Tue, Nov 3 still reporting
- Ether ETFs, net flow: −$139.7M · Mon, Nov 2 · Tue, Nov 3 still reporting
- Stablecoin supply: $296B (−$5.6B) · 7-day change

## Derivatives & sentiment

- BTC funding, annualized: 7.1% (+2.4 pp) · 24h average
- BTC implied vol (DVOL): 38.7 (−1.0)
- Fear & Greed: 34 (+8) · Fear

## US macro, last close

- S&P 500: 7,569 (+0.4%) · Tue, Nov 3
- Nasdaq 100: 28,180 (+0.7%) · Tue, Nov 3
- US 10Y yield: 4.95% (+6 bps) · Tue, Nov 3
- Dollar index (DXY): 101.87 (+0.25%) · ECB rates · Tue, Nov 3

Today, the uncertainty comes to an end. The market has almost fully priced in a Democratic victory—a scenario that is far from favorable for crypto assets. However, with a Democratic-controlled House of Representatives, Trump will find it difficult to govern exactly as he pleases. I anticipate a medium-term decline, lasting until January 2027.

I will share a DCA (Dollar-Cost Averaging) strategy for Bitcoin futures to help navigate this highly probable downturn.

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Educational and informational content only. I am not a licensed financial advisor and nothing here is investment advice. Do your own research before making any decision.