Rapport matinal du marché

Morning Market Report, November 3, 2026

The crypto market opened Tuesday under broad selling pressure, with most major coins posting losses and leveraged long positions taking a visible hit overnight.

BTC is trading at $76,752, down 2.35% in the past 24 hours. Despite the decline, 72.9% of tracked crowd positions are still pointing upward, which means a large portion of the market is holding bets that price will recover. The problem is that those bets are getting squeezed: over $13.2 million in bullish leveraged positions were forcibly closed in just the last hour, compared to only $166k on the bearish side. Over the full 24-hour window, BTC bulls absorbed more than $82.9 million in forced closures across the market.

ETH sits at $2,247, down 2.62%, with a nearly identical crowd sentiment picture (72.8% long) and similar forced closures hitting bullish leveraged traders. SOL is today's hardest-hit major, dropping 3.8% to $91.94, with 76.6% of crowd positions still long and over $170k in bullish leveraged bets closed in the last hour alone. XRP at $1.25 is the relative calm spot, off just 0.91%, with leverage not meaningfully building in either direction.

On flows, Bitcoin ETFs recorded a modest single-day inflow of $6.7 million yesterday, but that follows a seven-day net outflow of $333.6 million, so institutional appetite remains cautious at best. The Fear and Greed index reads 26, firmly in "Fear" territory. Total crypto market cap sits at roughly $2.6 trillion, down 1.15% on the day, and Bitcoin's share of that total has climbed to 59.3%, a sign that capital is rotating toward the largest asset rather than spreading into smaller coins.

The broader regime reading points to a strong downward trend with very narrow market participation, meaning few coins are holding up, and distribution patterns are dominant. The VIX, a measure of expected turbulence in traditional stock markets, sits at 21.15, reflecting some background tension in broader financial markets as well. System pressure is measured at 43 out of 100, which our alarm framework classifies as calm for now.

On the "measuring only, no edge confirmed" side: our internal heat scores for BTC (0.38) and ETH (0.30) suggest neither coin is in overheated territory by that metric, but we flag these as observations we track over time rather than signals with proven predictive value.

Things worth watching today: whether forced closures of bullish leveraged positions continue or slow down, whether ETF flows build on yesterday's small inflow after the recent run of outflows, and whether SOL stabilises given it is currently showing the sharpest drop and the highest proportion of crowd positions still betting on a bounce.