BTC Reclaims Ground After Six-Week Low Despite Persistent ETF Outflows

Bitcoin has recovered above $78,000 after touching its lowest price in six weeks, even as US spot Bitcoin ETFs continue to experience substantial withdrawals. The funds have lost approximately $1.16 billion across three consecutive trading sessions. However, the recent slowdown in daily redemptions has provided some relief to the market, helping BTC recover from its latest decline.

Bitcoin climbed to nearly $78,500 as cryptocurrency prices rebounded alongside US stock futures. The recovery followed a period of heightened market uncertainty, with the Binance security breach and concerns about the US political environment adding pressure to digital asset prices.

ETF data suggests that institutional selling is beginning to lose strength, although fresh investment demand remains limited. Daily withdrawals decreased from $643.2 million on October 30 to $115.6 million on November 3, while Bitcoin moved higher after reaching a six-week low.

Bitcoin ETFs Face $1.16 Billion in Outflows Over Three Sessions

US spot Bitcoin exchange-traded funds have recorded three successive days of net withdrawals, bringing their combined outflows to approximately $1.16 billion.

The funds experienced $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) led the latest round of withdrawals, recording $95 million in outflows on Tuesday. Grayscale’s Bitcoin Mini Trust also saw $52.6 million leave the product.

Nevertheless, several funds continued to attract new investments despite the broader negative trend. Bitwise’s BITB registered $21.9 million in inflows, while Fidelity’s FBTC gained $6.8 million. Morgan Stanley’s MSBT also recorded approximately $3.3 million in fresh capital.

The latest figures reveal that daily ETF outflows have dropped by more than 80% compared with the October 30 peak. October closed with approximately $515 million in net withdrawals, while the first three reported trading sessions of November added another $1.16 billion in outflows.

The reduction in daily redemptions offers a potentially positive development for Bitcoin investors. However, the overall ETF flow trend remains negative, suggesting that institutional participants have not yet shifted back toward aggressive accumulation.

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Bitcoin Rebound Raises Hopes of a Move Toward $80,000

Bitcoin’s recovery comes after a sharp market correction pushed the cryptocurrency to a six-week low. The downturn developed amid several overlapping concerns, including the Binance hack and uncertainty surrounding upcoming US cryptocurrency legislation.

The expected Democratic gains in both chambers of Congress also created concerns about the industry’s regulatory outlook. Despite these developments, Bitcoin attracted renewed buying interest as US stock futures recovered and broader market sentiment improved.

The $80,000 price level is now attracting renewed attention from traders. Bitcoin faces immediate resistance between $79,500 and $80,000. A successful move above this range could allow the cryptocurrency to advance toward $82,000, particularly if ETF withdrawals continue to decline.

The sharp moderation in daily outflows suggests that institutional selling may be easing. If this trend is accompanied by stronger demand in the spot market, Bitcoin could gain additional momentum.

However, BTC needs to establish a sustained position above $80,000 to confirm that the latest rebound is developing into a stronger recovery. Another rejection around this resistance could bring sellers back into the market, especially as ETF investors continue withdrawing funds.

If Bitcoin falls below $77,000, the recent low near $75,600 could become the next important downside level. Buyers previously entered around this price during the latest selloff.

For now, Bitcoin’s short-term performance depends on whether buyers can maintain support above $78,000 and generate enough momentum to challenge the $80,000 resistance zone. Although declining ETF outflows provide some encouragement, a lasting recovery will require stronger spot-market demand and a renewed return of institutional capital.