Bitcoin Rebounds Past $78K as ETF Outflows Finally Slow

Bitcoin is back above $78,000. The largest crypto climbed to $78,500, pulling itself out of a six-week low as buyers stepped in alongside rallying U.S. stock futures.

The tailwind: ETF selling is finally losing steam. U.S. spot Bitcoin funds bled roughly $1.16 billion across three straight losing sessions, but the daily damage shrank fast — $643.2 million out on Oct. 30, $398.6 million on Nov. 2, and just $115.6 million on Nov. 3. That's a drop of more than 80% from Friday's peak.

The redemptions weren't evenly spread. BlackRock's iShares Bitcoin Trust (IBIT) led the exodus with $95 million leaving the fund, while Grayscale's Bitcoin Mini Trust shed another $52.6 million. A few products bucked the trend: Bitwise's BITB pulled in $21.9 million, Fidelity's FBTC added $6.8 million, and Morgan Stanley's MSBT took in $3.3 million.

October closed with about $515 million in net outflows, and November's first three reported sessions tacked on the $1.16 billion. Institutional money is still trimming exposure rather than rebuilding — just at a slower pace.

Bitcoin's slide came from several directions at once. A security breach at Binance shook confidence, U.S. crypto legislation remains up in the air, and Democrats winning both congressional chambers raised fresh questions about the industry's agenda in Washington. The initial jolt has faded, and stocks and crypto are moving higher together.

Now the whole board hangs on $80,000. Resistance sits between $79,500 and $80,000, and clearing it could open a path to $82,000 — especially if ETF withdrawals keep shrinking. A failure there leaves BTC exposed to another rejection, and a slip back under $77,000 would put the recent $75,600 low back in play.