Tether Adds BTC as Spot ETFs See Net Outflows【MEXC Alpha Trader – Daily Market Brief (November 4, 2026)】

I. Macro & Market Sentiment

· Market Data: BTC $76,889.00 (-0.12%) | ETH $2,261.36 (+0.35%) | SOL $91.83 (-0.32%)

· Market Sentiment: Funding Rate +0.0100% | Fear & Greed Index 34 (Fear)

· Elections: S&P 500 futures were broadly flat, while Nasdaq 100 futures rose 0.3% as voting got underway in the U.S. midterm elections. Further Reading

· Geopolitics: The U.S. and Iran continued indirect contacts, with Tehran saying its conditions must be met before the Strait of Hormuz can reopen. Further Reading

II. Trading Signals / Hot Topics

· [Today's Focus] BTC｜Corporate Buying and ETF Outflows Point to Diverging Capital Flows

· Corporate buying and fund flows diverged for BTC, the liquidity anchor of the broader market: Tether said it purchased an additional 50,000 BTC, while spot BTC ETFs saw $398.6 million in net outflows on November 2.

· Analysis: Corporate balance-sheet allocations and fund subscriptions and redemptions reflect different investor behavior; no single channel captures overall demand.

· Further Reading: 1 2

· [On-Chain] ETH｜Corporate Buying Meets Fund Redemptions as Demand Sources Diverge

· BitMine purchased an additional 5000 ETH, the asset underpinning the on-chain settlement layer; as of November 2, spot ETH ETFs had recorded six consecutive days of net outflows.

· Analysis: Corporate reserve purchases are occurring alongside fund redemptions, and on-chain accumulation does not mean institutional capital is flowing in across the board.

· Further Reading: 1

· [U.S. Stocks Focus] Oracle｜Rising Credit Hedging Costs Prompt Reassessment of AI Infrastructure Financing Risk

· CDS spreads for Oracle, an AI infrastructure provider, widened by more than 1 percentage point over the past month, while credit protection costs for the five largest cloud providers rose to their highest levels since 2021.

· Analysis: Rising credit protection costs reflect a shift in the pricing of debt risk, bringing financing constraints on AI capital spending into market focus.

· Further Reading: 1

III. Regulation & Major Events

· Binance｜A security incident affected approximately $6.34 billion in assets, of which approximately $2.85 billion had been frozen or intercepted as of November 3. Further Reading

· SEC｜The SEC updated its crypto asset FAQ, saying a broad and unaffiliated group of governance participants generally does not constitute a group of central parties; the staff's views are not legally binding. Further Reading

· CFTC｜Single-stock perpetual futures were approved for trading for the first time on eligible designated contract markets that have completed notice registration with the SEC. Further Reading

IV. Platform-Exclusive Benefits

· Alpha Trader October Trading Competition (Futures)

· Heart of the Brave V15 (Futures)

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Recommended Reading: MEXC On-Chain Daily Report: CFTC Approves Single-Stock Perpetual Futures — Could U.S. Regulated Markets Reshape Crypto Derivatives?

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