Bitcoin has regained the $78,000 level after dropping to a six-week low, despite continued selling pressure across US spot Bitcoin ETFs. The funds recorded approximately $1.16 billion in combined outflows over three trading sessions. However, the sharp reduction in daily withdrawals has helped buyers regain momentum following the recent election-related market downturn.

The largest cryptocurrency advanced to approximately $78,500, recovering from its overnight decline as digital assets moved higher alongside US stock futures. The rebound follows a period of market weakness driven by the Binance security breach and uncertainty surrounding the US political landscape.

Recent ETF figures indicate that institutional selling is beginning to moderate, although investors have not yet returned with significant fresh capital. Withdrawals fell from $643.2 million on October 30 to $115.6 million on November 3, while Bitcoin recovered from its lowest price in six weeks.

US Bitcoin ETFs Record $1.16 Billion in Outflows Over Three Sessions

US spot Bitcoin ETFs have registered three consecutive trading sessions of negative flows, with total withdrawals reaching approximately $1.16 billion.

The funds experienced $643.2 million in outflows on October 30, followed by $398.6 million on November 2 and an additional $115.6 million on November 3.

BlackRock’s iShares Bitcoin Trust (IBIT) recorded the largest withdrawals on Tuesday, losing $95 million. Grayscale’s Bitcoin Mini Trust also reported $52.6 million in redemptions, contributing to the broader ETF outflow trend.

Despite the widespread selling, some products continued to attract investor capital. Bitwise’s BITB recorded $21.9 million in inflows, while Fidelity’s FBTC received $6.8 million. Morgan Stanley’s MSBT added another $3.3 million.

The latest data shows that daily withdrawals have declined by more than 80% from their October 30 peak. Bitcoin ETFs ended October with approximately $515 million in net outflows, while November’s first three reported sessions generated another $1.16 billion in withdrawals.

The slower pace of redemptions could provide some support for Bitcoin’s recovery. Nevertheless, the overall flow trend remains negative, indicating that institutional investors are still reducing exposure instead of rebuilding their positions.

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Bitcoin Price Recovery Brings $80,000 Back Into View

Bitcoin’s rebound follows a sharp correction that pushed its price to a six-week low. The decline came amid several market pressures, including the Binance security incident and growing uncertainty about the future of cryptocurrency regulation in the United States.

The anticipated Democratic victory in both congressional chambers also raised questions about the industry’s legislative outlook. However, Bitcoin regained strength as US stock futures improved and buyers returned to the broader financial markets.

The $80,000 mark has now emerged as the next major level for traders. Immediate resistance stands between $79,500 and $80,000. A sustained move above this range could create room for another advance toward $82,000, particularly if ETF withdrawals continue to ease.

The declining volume of daily redemptions suggests that institutional selling pressure may be gradually fading. Stronger spot-market demand alongside this improvement could help Bitcoin maintain its upward momentum.

However, BTC must establish a convincing breakout above $80,000 before the recovery can develop into a stronger bullish trend. If the cryptocurrency fails to overcome this barrier, sellers could regain control, especially while ETF products continue experiencing net withdrawals.

On the downside, a move below $77,000 could expose Bitcoin to another test of the recent $75,600 low, where buyers previously stepped in to limit further losses.

Bitcoin’s immediate direction will depend on whether it can defend the $78,000 support area and build enough buying pressure to challenge $80,000. Although declining ETF withdrawals offer an encouraging development, a sustainable recovery will require stronger spot demand and renewed institutional investment.