Bitcoin Price Eyes $80K Recovery Despite $116M BTC ETF Outflows
Image: The Coin Republic
Key Insights Bitcoin price faces $80,000 recovery test after three consecutive ETF outflow sessions. Spot Bitcoin ETFs lost $115.6 million on Nov. 3, led by BlackRock’s IBIT. Bitcoin faces support near $76,000, while $79,500–$80,500 remains a recovery zone. Bitcoin price remained below $80,000 on Nov. 4 as institutional fund withdrawals continued for a third session. U.S. spot Bitcoin exchange-traded funds (ETFs) recorded $115.6 million in net outflows on Nov. 3. Farside Investors’ figures showed that withdrawals had slowed compared with the previous two sessions. However, the continued redemptions raised questions about whether demand would support a recovery toward $80,000. TradingView data placed Bitcoin near $77,000 during the latest trading session. The cryptocurrency remained below its previous trading range, leaving buyers facing several resistance levels.
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