The cryptocurrency market lost more than $270 billion in total capitalization within a 24-hour period. Bitcoin declined to approximately $103,944, while Ethereum dropped to around $3,500 and XRP fell 5.46% to $2.27, according to market data.

UBS has completed the world's first live tokenized fund transaction in collaboration with UBS Tokenize and DigiFT. The transaction processed subscription and redemption requests for the UBS USD Money Market Investment Fund Token (uMINT) on Ethereum. The operation utilized Chainlink's Digital Transfer Agent (DTA) technical standard to automate fund workflows and enhance efficiency across the fund lifecycle.

US M2 money supply reached $22.2 trillion in September 2025, marking a 4.5% year-over-year increase and the 19th consecutive month of expansion. Bitcoin's price movements continue to correlate with rising liquidity conditions as central banks inject capital into financial systems. After adjusting for inflation, M2 expanded by 1.4% during the month, according to Federal Reserve data.

President Trump told 60 Minutes on November 2 that China poses a competitive crypto threat, stating the country is "getting into it very big." The assertion contrasts with Beijing's 2021 ban on crypto trading and mining. Multiple parallel systems—Hong Kong's licensed market, the e-CNY CBDC exceeding ¥7 trillion in transactions, and gray-market stablecoin adoption—create the appearance of Chinese advancement in digital assets despite the mainland prohibition.

Ethereum co-founder Vitalik Buterin has proposed eliminating the modular exponentiation precompile (modexp), a feature he originally designed. The precompile creates verification bottlenecks up to 50 times worse than standard operations during zero-knowledge proof generation, Buterin stated on X. The proposal aims to address technical obstacles hindering adoption of zero-knowledge Ethereum Virtual Machine infrastructure.

A trader known as "Anti-CZ Whale" has accumulated over $21 million in unrealized profit from shorting ASTER token following Binance founder Changpeng Zhao's November 2, 2025 disclosure of purchasing approximately 2 million tokens. The whale operates two Hyperliquid wallets with combined leveraged short positions totaling $48.91 million against ASTER. The trader's broader portfolio includes profitable short positions on DOGE, ETH, XRP, and kPEPE, bringing total unrealized gains across Hyperliquid to nearly $100 million.

Large XRP holders sold approximately 900,000 tokens between late October and November 4, data show. Wallets containing 100 million to 1 billion XRP reduced their positions during this period. The token declined to around $2.27, falling more than 6% in 24 hours and over 15% across seven days.

Bitcoin fell below $104,000 on November 4, hitting a two-week low and triggering $1.37 billion in leveraged position liquidations, with $1.2 billion from long positions, according to CoinGlass data. The decline coincided with ongoing spot Bitcoin ETF outflows and continued distribution by long-term holders. The Crypto Fear & Greed Index dropped to 21, its lowest reading in weeks, reflecting heightened caution among investors.