Crypto News
Bitcoin climbed to $78,500 after touching a six-week low, while U.S. spot Bitcoin ETFs recorded $1.16 billion in net withdrawals across three sessions. Daily outflows slowed from $643.2 million on October 30 to $115.6 million on November 3 as Bitcoin recovered alongside U.S. stock futures.
Why it matters
The slowdown suggests institutional selling has lost some momentum, but it does not yet signal a return to buying. October ended with roughly $515 million in net ETF outflows, and November’s first three reported sessions added another $1.16 billion in withdrawals. Investors are still reducing exposure overall.
Flows were mixed on November 3. BlackRock’s IBIT led withdrawals with $95 million in outflows, while Grayscale’s Bitcoin Mini Trust lost $52.6 million. Bitwise’s BITB drew $21.9 million, Fidelity’s FBTC added $6.8 million and Morgan Stanley’s MSBT attracted $3.3 million.
Market impact
Bitcoin’s rebound followed a steep selloff amid security concerns and uncertainty over U.S. crypto legislation. The initial market reaction to Democrats winning both chambers of Congress eased as Bitcoin and stock futures recovered.
The next test is the $79,500 to $80,000 resistance zone. A move through it could put $82,000 in focus, while failure to establish $78,000 as support could leave Bitcoin vulnerable to another rejection. A drop below $77,000 would expose the recent $75,600 low. Shrinking ETF withdrawals offer support, but a stronger advance would need renewed spot demand.
Frequently asked questions
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How much did U.S. spot Bitcoin ETFs withdraw over three sessions?
The funds recorded $1.16 billion in net withdrawals across three sessions. Daily outflows fell from $643.2 million on October 30 to $115.6 million on November 3.
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Which Bitcoin funds recorded inflows despite the overall ETF outflows?
Bitwise’s BITB drew $21.9 million, Fidelity’s FBTC added $6.8 million and Morgan Stanley’s MSBT attracted $3.3 million.
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What resistance levels are in focus for Bitcoin?
The immediate resistance zone is between $79,500 and $80,000. A break above it could put $82,000 in focus.
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What price levels could Bitcoin revisit if the rebound fails?
A fall below $77,000 would expose the recent $75,600 low. Bitcoin also needs to establish $78,000 as support to strengthen the recovery.
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Do slowing ETF withdrawals mean institutional investors are buying Bitcoin again?
Not yet. Withdrawals slowed sharply, but ETF flows remained negative overall, indicating institutions were still reducing exposure rather than rebuilding positions.
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