Bitcoin Rebounds to $78,500 From 7-Week Low as Spot ETF Outflows Slow to $116M
Author: Crypffalo Research · 17:54 04/11/2026
Bitcoin bounced from $75,618 to around $78,500 after the US midterm results, while spot Bitcoin ETFs saw just $116 million in net outflows on Nov 3, about 71% less than the prior session.
Bitcoin climbed back above $78,000 on Nov 4 after briefly sliding to $75,618 on Bitstamp, its lowest level since Sept 16. The drop came as US midterm results showed Democrats taking control of both the House and the Senate.
As of around 10:30 UTC, BTC was trading near $78,500, up about 1.9% over 24 hours. Meanwhile, US spot Bitcoin ETFs saw only about $116 million in net outflows on Nov 3, far less than in the two prior sessions.
Key takeaways
- Short-term low: BTC touched $75,618, right on its 50-week simple moving average (SMA).
- Rebound: Price snapped back above $78,000 within hours in a V-shaped move.
- Liquidations: Roughly $288 million in crypto longs were liquidated over 24 hours, per CoinGlass.
- ETF flows: Net outflows of $115.6 million on Nov 3, about 71% smaller than the prior session.
- Sentiment: The Fear & Greed Index rose to 34 from 26 but remains in "Fear".
How price reacted to the election
According to TradingView data cited by Cointelegraph, BTC drifted lower into Tuesday's close as results came in. The $75,618 low marks a level last seen in mid-September.
Price then recovered to $78,039 over roughly three hours. CoinDesk described it as a V-shaped comeback, with BTC pushing toward $78,300 as election uncertainty faded.
Kelly Ye, head of research at institutional trading platform Talos, said markets were largely prepared. Bitcoin moved about 1.7% after polls closed, close to the roughly 1.8% options had priced, with no major leverage flush.
Key technical levels:
- $75,618: The seven-week low, sitting on the 50-week SMA that has acted as support since mid-September.
- $76,000: The zone where late long positions were liquidated.
- $78,000: A wall of sell orders that capped the bounce before price broke through.
- $75,500: The level analyst Rekt Capital flagged as a possible retest if lower highs persist on the three-day chart.
ETF outflows slow after three sessions
US spot Bitcoin ETFs posted $115.56 million in net outflows on Nov 3, per SoSoValue. It was the third straight session of withdrawals, following $643 million on Oct 30 and $399 million on Nov 2, for a three-session total of about $1.16 billion.
Fund-level flows on Nov 3:
- IBIT (BlackRock): $94.98 million out.
- BTC (Grayscale Mini): $52.6 million out.
- BITB (Bitwise): $21.92 million in.
- FBTC (Fidelity): $6.76 million in.
- MSBT (Morgan Stanley): $3.34 million in.
Total net assets stand at roughly $99.16 billion, about 6.33% of Bitcoin's market cap. Cointelegraph noted that the funds are now down about $153 million in net flows for 2026.
Bitwise head of research André Dragosch said the selling reflects a "short-term risk-off environment" after Binance's $6.3 billion hack, not a structural shift. He pointed to a Bitwise survey of 15 institutions, none of which had cut their Bitcoin ETF exposure.
What it means for crypto markets
The quick bounce shows buyers stepping in at the 50-week SMA, and suggests the election outcome was largely priced in. Still, S&P 500 and Nasdaq 100 futures were down about 0.3%, so broader risk appetite remains fragile.
- Bull case: ETF flows flip back to inflows and BTC holds above $78,000, reinforcing the $75,600 floor.
- Risk case: A break below the 50-week SMA could open the door to a deeper correction, as Material Indicators co-founder Keith Alan has warned.
Ether followed higher, trading near $2,326, up about 2.5% on the day. A Democratic Congress may slow progress on crypto bills, a factor markets will keep digesting in the weeks ahead.
What to watch next
- ETF flow data for Nov 4, due early Nov 5 GMT+7.
- Whether BTC holds $78,000 and the 50-week SMA near $75,600.
- Statements from incoming congressional leaders on crypto bills such as the CLARITY Act.
- Track the economic calendar and real-time liquidations.
Frequently Asked Questions
Why did Bitcoin dip and then bounce so quickly?
Price fell as markets reacted to the Democratic sweep, then recovered because the outcome was largely expected. The actual move closely matched what options markets had priced.
Should investors worry about the ETF outflows?
Daily outflows narrowed by about 71% from the previous session. Bitwise sees the selling as short-term, but a few more sessions are needed to confirm a turn.
What is the 50-week SMA?
It is the average price over the past 50 weeks, often used to gauge the medium-term trend. It has acted as support for BTC since mid-September.
*This content is for information only and is not financial advice.*
Tags: Bitcoin, Bitcoin ETF, US Midterms, Liquidations
Related articles
- Bitcoin Reclaims $80,000 as Over $400 Million Liquidated in One Hour
- ZachXBT names French bank Crédit Mutuel Arkéa in alleged $133M crypto theft
- Democrats Win U.S. Senate, Putting Crypto's CLARITY Act Further in Doubt
- Democrats Win the US House as Bitcoin Slips Below $76,000 on Crypto Bill Fears
- US Midterms: Democrats Favored to Sweep Congress as Bitcoin Holds Near $77,700
- Binance says $6.3 billion hack began with a fake job interview