Bitcoin Recovers From Six-Week Low Despite $1 Billion in ETF Outflows

Bitcoin has recovered above $78,000 after touching a six-week low, despite US spot Bitcoin ETFs recording approximately $1.16 billion in withdrawals over three consecutive trading sessions. The rebound coincided with a significant slowdown in daily outflows, allowing buyers to regain some momentum following a sharp selloff triggered by the expected Democratic victory in congressional elections.

BTC climbed toward $78,500, recovering from its overnight decline as cryptocurrency prices moved higher alongside US stock futures. The rebound followed a challenging period for the market, during which security concerns and political uncertainty weakened investor confidence.

Recent Bitcoin ETF data suggests that selling pressure is beginning to ease, although institutional demand remains subdued. Daily withdrawals declined from $643.2 million on October 30 to $115.6 million on November 3, while Bitcoin staged a recovery from its lowest price in six weeks.

Bitcoin ETFs Record More Than $1.15 Billion in Outflows Over Three Sessions

US spot Bitcoin ETFs experienced three consecutive trading sessions of net withdrawals, bringing cumulative outflows to approximately $1.16 billion. The funds recorded $643.2 million in withdrawals on October 30, followed by $398.6 million on November 2 and another $115.6 million on November 3.

BlackRock’s iShares Bitcoin Trust (IBIT) accounted for the largest share of Tuesday’s withdrawals, losing $95 million. Grayscale’s Bitcoin Mini Trust also experienced $52.6 million in outflows, contributing to the broader decline in ETF holdings.

However, some investment products continued attracting fresh capital. Bitwise’s BITB registered $21.9 million in inflows, while Fidelity’s FBTC received $6.8 million. Morgan Stanley’s MSBT also added approximately $3.3 million.

The latest figures indicate that daily ETF withdrawals have fallen by more than 80% compared with Friday’s peak. October closed with approximately $515 million in net outflows, while the first three reported trading sessions of November generated an additional $1.16 billion in withdrawals.

The reduction in daily selling offers some relief to Bitcoin investors. Nevertheless, ETF flows remain negative, indicating that institutional participants are still reducing their exposure rather than establishing substantial new positions.

Discover: The Crypto Presales to Watch in Q4 2026

Bitcoin Recovery Brings the $80,000 Resistance Level Back Into Focus

Bitcoin’s latest rebound follows a significant decline that pushed the cryptocurrency to a six-week low. Several factors have contributed to the recent weakness, including the Binance security breach and uncertainty surrounding the future direction of US cryptocurrency regulations.

The Democrats’ expected victory in both chambers of Congress also raised concerns about potential changes to the industry’s legislative environment. However, Bitcoin began recovering alongside broader equity markets as investors moved beyond the initial election reaction and renewed buying activity emerged.

The $80,000 threshold has now become a major target for bullish traders. Immediate resistance is concentrated between $79,500 and $80,000. A sustained move above this range could create an opportunity for Bitcoin to advance toward $82,000, particularly if ETF withdrawals continue declining.

The sharp reduction in daily fund outflows suggests that institutional selling pressure may be weakening. This could provide Bitcoin with additional room to extend its recovery if broader market demand improves.

However, BTC must establish support above $80,000 to strengthen the bullish outlook. Another rejection near this resistance could trigger renewed selling pressure, especially while ETF investors continue withdrawing capital.

If Bitcoin falls below $77,000, traders could turn their attention toward the recent low near $75,600, where buyers previously entered the market.

For now, the immediate direction depends on whether BTC can maintain the $78,000 level as support and generate enough buying momentum to challenge $80,000. Slowing ETF withdrawals provide a positive development, but a sustainable recovery will likely require stronger spot-market demand rather than a temporary rebound driven by short-term buying.

About The Author

ctleditor

See author's posts