Yesterday (November 3), the broader market traded in a narrow range. $BTC and ETH posted modest gains, but market performance was sharply divided. BTC closed at 77,454 USDT on the daily chart, up +0.83%; ETH closed at 2,275 USDT, up +0.95%. The 24-hour snapshot showed more losers than gainers: of 724 trading pairs, 255 rose and 469 fell, reflecting intense buying and selling pressure.
【Hot Market Recap】
【BMT】was one of the most closely watched tokens by investors yesterday, gaining +35.36% in 24 hours with a trading volume of 15.789 million USDT. It ranked third among the top gainers, with a surge in trading activity indicating strong short-term investor interest. CREAM led the market with a +65.35% gain, but its trading volume was only 276,000 USDT. Its low liquidity warrants caution about price volatility. PNT rose +45.23% on a trading volume of 262,000 USDT, also marking an unusual move in a small-cap token. Among the biggest losers, NFP plunged -65.85% on a trading volume of 3.834 million USDT, with its price falling from 0.0057 to 0.00181 amid heavy selling pressure. ZEC recorded a trading volume of 153 million USDT and a 24-hour gain of +3.91%, outperforming other major coins, with clear signs of capital inflows.
【Fund Flows and Sentiment】
As for funding rates, the current perpetual contract funding rates for BTC, SOL, and ETH are all positive: 0.0100% for BTC and SOL, and 0.0076% for ETH. This indicates that longs are dominant in the perpetual market, but the rates remain low, suggesting leveraged longs are not particularly aggressive. Overall, the market's advances and declines skew bearish, with nearly twice as many declining coins as rising ones. However, losses among major coins are limited, and BTC and ETH have moved only slightly, with market sentiment largely cautious and wait-and-see. In terms of trading volume, BTC and ETH dominate, but the stablecoin USDC leads with a trading volume of 1.324 billion USDT, reflecting that some funds may be sitting on the sidelines or being used for hedging.
【Today's Outlook】
Based on yesterday's data, here are several points to watch today:
1. BTC traded in the 76,389–78,063 range. MA7 (77,497) has crossed below MA30 (81,059). If the price remains below MA7, it may face short-term pressure. Watch resistance near 78,000 and support around 76,300.
2. ETH is down 16.46% over the past 30 days, significantly underperforming BTC. Watch whether it can hold above MA7 (2,260); a break below the 2,240 range could trigger a further correction.
3. Trading volumes for small-cap movers such as BMT have increased, but their liquidity and staying power remain to be tested. If trading volume contracts today, short-term interest could fade quickly.
Overall, the market appears to be on the eve of a major move. Investors should manage their positions and exercise caution with highly volatile assets.
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The content above reflects only personal opinions and a compilation of public information, and does not constitute investment advice. Markets involve risk; invest with caution (DYOR).