The crypto market contracted over the past 24 hours, with the total market cap sliding 6.6% to $2.57 trillion. Bitcoin led the decline, dropping 4.7% to $75,885, while Ethereum fell 6.2% to $2,240. The breadth metric shows that only 10 of 76 large coins rose, underscoring the breadth of the sell-off.
Market snapshot
Bitcoin remains the dominant asset, accounting for 59.2% of the overall market, a level that reflects its continued share of investor attention. Ethereum’s share sits at 10.6%, and together the two majors represent roughly 70% of the market value. Bitcoin’s 4.7% decline is larger than the 1.7% weekly drop for the top-100, indicating that short-term pressure is stronger than the medium-term trend.
Other top assets also posted losses: Solana is down 5.4% at $90.20, XRP fell 9.2% to $1.19, and BNB slipped 2.2% to $695. The broader market trend shows a 1.7% decline for the top 100 coins over the past week, indicating a sustained pullback. When major coins move together, it often reflects a shift in overall risk appetite rather than isolated project news.
| Asset | Price | 24h | 7d |
|---|---|---|---|
| Bitcoin (BTC) | $75,885 | -4.7% | -1.7% |
| Ethereum (ETH) | $2,240 | -6.2% | +0.1% |
| Solana (SOL) | $90.20 | -5.4% | -6.6% |
| XRP (XRP) | $1.19 | -9.2% | -4.6% |
| BNB (BNB) | $695 | -2.2% | -0.6% |
| Total crypto market cap | $2.57 trillion | -6.6% | -1.7% (top 100) |
| Bitcoin dominance | 59.2% |
Prices from CoinGecko at the time of writing (November 6, 2026).
Top movers today
Among gainers, Bitway surged 19.9% to $1.21, while Arbitrum rose 4.2% to $0.169. Smaller tokens such as World Liberty Financial (+3.2%), Pepe (+3.1%) and MemeCore (+2.3%) also posted modest gains. These coins share the characteristic of being lower-priced assets, which can experience larger percentage moves on relatively small dollar volume.
The losers were led by XRP, down 9.2%, followed by Ethena (-7.3%), Bitcoin Cash (-7.2%), Cosmos Hub (-7.1%) and Worldcoin (-6.6%). All of the top losers are large-cap or mid-cap coins, suggesting broader pressure on established assets. The pattern of a few modest gainers amid many decliners aligns with the breadth figure that only a small fraction of large coins rose.
| Top gainers | 24h | Top losers | 24h |
|---|---|---|---|
| Bitway (BTW) | +19.9% | XRP (XRP) | -9.2% |
| Arbitrum (ARB) | +4.2% | Ethena (ENA) | -7.3% |
| World Liberty Financial (WLFI) | +3.2% | Bitcoin Cash (BCH) | -7.2% |
| Pepe (PEPE) | +3.1% | Cosmos Hub (ATOM) | -7.1% |
| MemeCore (M) | +2.3% | Worldcoin (WLD) | -6.6% |
Among the top 100 coins by market cap, excluding stablecoins and wrapped tokens.
Flows and sentiment
Stablecoin supply edged down 0.29% to $293.7 billion, a modest contraction that can signal reduced liquidity for traders moving between fiat and crypto. When stablecoin supply falls, it often means fewer dollars are parked in these digital dollars, which can limit buying power for spot traders. DeFi total value locked (TVL) fell 4.7% to $81.0 billion, indicating less capital locked in decentralized protocols. A shrinking TVL can reflect users pulling assets out of lending, staking or liquidity pools, possibly to seek safety elsewhere.
The Fear and Greed Index turned more fearful, moving from a neutral 50 yesterday to 28 today, which often reflects heightened risk aversion among participants. The index’s weekly level of 30 also sits in the fear zone, showing that sentiment has been uneasy for several days. Bitcoin’s funding rate on the OKX perpetual contract was 0.0071% per 8 hours, a low positive rate that can suggest a modest long-bias among futures traders, but the tiny magnitude means the bias is weak. Open interest dropped 5.9% to $3.6 billion, a decline that may point to reduced speculative exposure and fewer contracts being held.
| Metric | Latest | Change or comparison |
|---|---|---|
| Stablecoin supply | $293.7 billion | -0.29% (1d), -2.00% (7d) |
| DeFi total value locked | $81.0 billion | -4.7% (1d), -0.6% (7d) |
| Crypto Fear and Greed Index | 28 (Fear) | a week ago: 30 (Fear) |
| Bitcoin funding rate (OKX) | 0.0071% per 8h | near neutral |
| Bitcoin futures open interest (OKX) | $3.6 billion | -5.9% over 1 day |
Other data at the time of writing.
What is driving the market
CoinDesk reported that over $1 billion in bullish bets were liquidated, and that ETF flows offered little support to the spot market. Those liquidations can help explain the broad sell-off across major coins, including Bitcoin’s 4.7% dip and Ethereum’s 6.2% slide. The same outlet also noted that Bitcoin held near $76,000 while the Nasdaq reacted to U.S. jobs data, suggesting that macro-economic headlines are influencing crypto sentiment. When traditional equity markets wobble, crypto often mirrors that volatility.
Another CoinDesk headline highlighted Greece’s approval of a 10% tax on crypto gains and a 15% levy on DeFi income. Higher tax burdens can dampen investor enthusiasm, which aligns with the falling DeFi TVL and the shift in the Fear and Greed Index toward fear. Tax policy changes tend to affect both retail and institutional participants, especially those who earn yield from DeFi protocols.
World Liberty Financial announced a token buyback after a 66% year-to-date slide, yet the token still rose 3.2% today, showing that specific news can create short-term upside even in a down market. For readers seeking deeper context, our guide on Decentralized Autonomous Organizations (What Is a DAO?) explains how governance structures can affect token dynamics, and our analysis of the Bank of England rate hike (BoE Rate Hike) offers insight into how traditional monetary policy may ripple into crypto markets. Additionally, our article on tokenomics (What Is Tokenomics?) can help readers understand why supply changes, like the slight dip in stablecoins, matter for price pressure.
What to watch
- Watch for further ETF flow data, as continued outflows could keep pressure on Bitcoin and other majors.
- Monitor stablecoin supply trends; a sustained decline may limit liquidity for traders moving into or out of crypto.
- Keep an eye on regulatory developments, especially tax policies like Greece’s new crypto levy, which could affect market participation.
Frequently asked questions
Why did Bitcoin fall today?
What does the Fear and Greed Index indicate?
How are stablecoins performing?
Sources
This article is for educational purposes only and is not financial advice. Crypto assets are volatile, so always do your own research. Read our editorial policy.
