Bitcoin climbed above $78,000 after briefly touching its lowest level in six weeks, even as U.S. spot Bitcoin ETFs experienced $1.16 billion in withdrawals over three consecutive trading sessions. The rebound followed a steep reduction in daily outflows, giving buyers an opportunity to recover as selling pressure eased after the market reaction to an expected Democratic victory in congressional elections.
The largest cryptocurrency advanced to $78,500 after its overnight decline, rising in step with U.S. stock futures. The recovery comes after several factors unsettled investors, including the Binance security breach and growing uncertainty over the direction of U.S. crypto policy.
ETF flows indicate that institutional selling is becoming less aggressive, although investors have yet to resume significant buying. Daily withdrawals declined from $643.2 million on October 30 to $115.6 million on November 3, while Bitcoin moved higher from its recent low.

Bitcoin ETF Outflows Reach $1.16 Billion in Three Trading Days

U.S. spot Bitcoin ETFs recorded approximately $1.16 billion in net outflows across three consecutive sessions. Withdrawals reached $643.2 million on October 30, eased to $398.6 million on November 2 and fell further to $115.6 million on November 3.
BlackRock’s iShares Bitcoin Trust (IBIT) saw the largest withdrawals on Tuesday, with investors pulling $95 million from the fund. Grayscale’s Bitcoin Mini Trust recorded an additional $52.6 million in outflows.
Some ETF providers, however, continued to attract fresh investment. Bitwise’s BITB received $21.9 million, Fidelity’s FBTC added $6.8 million, and Morgan Stanley’s MSBT registered $3.3 million in inflows.
The latest data shows that daily withdrawals have dropped by more than 80% compared with the October 30 peak. Despite the improvement, the broader picture remains weak. Bitcoin ETFs recorded roughly $515 million in net outflows during October, while November’s first three reported trading sessions brought another $1.16 billion in withdrawals.
A slower pace of redemptions could help stabilize Bitcoin prices, but it does not yet signal a meaningful return of institutional capital. Overall ETF flows remain negative, indicating that investors are still reducing their exposure to the cryptocurrency.
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Bitcoin Recovery Puts $80,000 Resistance in the Spotlight

Bitcoin is attempting to recover after a sharp decline pushed its price to a six-week low. The downturn coincided with concerns over the Binance security breach and uncertainty about potential changes to U.S. cryptocurrency legislation.
Expectations of Democrats gaining control of both congressional chambers also raised questions about the industry’s ability to advance its legislative priorities. Bitcoin has since recovered alongside U.S. stock futures as some of the initial selling pressure subsided.
The next major challenge for BTC lies in the $79,500–$80,000 range. A convincing breakout above this zone could create room for a move toward $82,000, particularly if ETF withdrawals continue to moderate.
However, a brief move above $80,000 may not be enough to confirm a sustained recovery. Bitcoin needs to hold above that level to strengthen the bullish outlook. If resistance remains intact, another pullback could follow. A decline below $77,000 would increase the possibility of a retest of the recent $75,600 low.
Bitcoin’s immediate direction will depend on whether buyers can defend $78,000 and build enough spot-market demand to push through $80,000. While falling ETF outflows suggest that institutional selling is easing, a durable rally will require stronger buying interest rather than a temporary rebound.