Why Crypto Market Is Crashing Today [Live] Updates On November 3

Cardano ($ADA) is showing strong bullish divergence on the daily chart — a pattern that last preceded an 87% rally from $0.54 to $1.02. Technical indicators are lining up, with the Stoch RSI bottoming on both daily and weekly timeframes, signaling potential for a multi-month upward move rather than a short-term bounce.At current levels, analysts suggest ADA appears undervalued, and if momentum builds, the altcoin could be gearing up for its next major leg higher.

A growing number of traders are bracing for a major correction in both the stock and crypto markets over the next 3–9 months. The warning signs are stacking up: soaring margin debt, rising inflation, and a weakening economic outlook. Once selling begins, margin calls could spark a cascade of forced liquidations, accelerating the downturn.Many investors, like the one quoted, have already moved into stablecoins and are sticking to short-term trades, mostly short positions, anticipating a sharp market reset ahead.

Bitcoin ($BTC) slipped 2.5% in the past 24 hours, underperforming a broadly weaker crypto market (-2.88%). The decline stems from multiple pressures — both macro and technical. Federal Reserve Chair Jerome Powell’s hawkish remarks reignited fears of delayed rate cuts, boosting the USD and driving investors away from risk assets. Meanwhile, Spot Bitcoin ETFs saw $388 million in net outflows, the largest since August, signaling profit-taking by institutions. Technically, BTC’s drop below $109.5K triggered automatic sell orders. The key support now lies between $108K–$109K, crucial for preventing further downside.

Bitcoin whales are on the move again! Since October 1, longtime holders known as Bitcoin OGs have deposited nearly 13,000 BTC (worth $1.48 billion) to major exchanges like Kraken, Binance, Coinbase, and Hyperliquid. Notably, Owen Gunden transferred 3,265 BTC ($364.5 million) to Kraken since October 21. These massive deposits are fueling market speculation about potential sell-offs, as Bitcoin’s price faces increased selling pressure from early investors taking profits.