<p style="text-align: justify">BTC rose 0.7% to $78,354 after Democrats secured control of both chambers of Congress, reversing a recent downtrend that had brought the cryptocurrency to a six-week low. The political shift renewed market attention on the prospects for crypto-related legislation in Washington.</p>
<h2 id="post-election-price-rebound-amid-institutional-selling">Post-election price rebound amid institutional selling</h2>
<p style="text-align: justify">Despite the rebound, persistent institutional selling continues to raise doubts about the sustainability of <a href="https://en.coin-turk.com/french-couple-kidnapped-in-bitcoin-extortion-2-suspects-arrested-after-violent-attack/" rel="noopener noreferrer nofollow">Bitcoin</a>’s upward momentum. The initial market response to the election results was negative, as expectations grew that Democratic control might complicate new cryptocurrency regulations.</p>
<p style="text-align: justify">However, the selloff quickly reversed. Analysts noted that after investors gained clearer insight into the direction of US policy, confidence returned, lifting BTC from session lows.</p>
<p style="text-align: justify">Derivatives markets showed a notable increase in activity during the recovery. Paradigm, a crypto options liquidity network, reported that Bitcoin options block trades on election day totaled $660 million, more than double the volume seen the previous day.</p>
<p style="text-align: justify">Market participants purchased roughly $420 million in call options, while selling calls worth $105 million. This activity indicated a tilt toward positions that could profit if prices rise, though some of the volume likely involved protective hedging strategies.</p>
<p style="text-align: justify">This surge in derivatives volume contrasts with the late October environment when BTC struggled to maintain levels above $77,000 amid significant withdrawals from exchange-traded funds.</p>
<p style="text-align: justify;background: linear-gradient(135deg,#ffffff 0%,#fffdf9 100%);border:1px solid #f1e4d8;border-left:4px solid #F69434;padding:14px 16px;border-radius:12px;color:#1e293b;font-size:15px;line-height:1.7">Mini dictionary: Paradigm is a crypto derivatives trading network that facilitates block trading and liquidity for institutional clients across major cryptocurrencies.</p>
<h2 id="etf-outflows-highlight-institutional-pressure">ETF outflows highlight institutional pressure</h2>
<p style="text-align: justify">Institutional fund flows remain a challenge for Bitcoin’s current recovery. Data compiled by Farside Investors showed that US spot Bitcoin ETFs experienced $643.2 million in outflows on October 30, $398.6 million on November 2, and $115.6 million on November 3, totaling $1.16 billion across three sessions.</p>
<p style="text-align: justify">BlackRock’s IBIT, the largest Bitcoin ETF by assets, recorded $95 million in redemptions on Tuesday, a decrease from Monday’s $405.3 million. While this slowdown points to diminished outflow pressure, there is still no clear indication that institutional investors have resumed building positions in BTC.</p>
<table style="border:1px solid #f1e4d8;padding:8px">
 <thead>
  <tr>
   <th>Date</th>
   <th>Total ETF Outflow</th>
   <th>IBIT Outflow</th>
  </tr>
 </thead>
 <tbody>
  <tr>
   <td>October 30</td>
   <td>$643.2 million</td>
   <td>Not specified</td>
  </tr>
  <tr>
   <td>November 2</td>
   <td>$398.6 million</td>
   <td>Not specified</td>
  </tr>
  <tr>
   <td>November 3</td>
   <td>$115.6 million</td>
   <td>$95 million (Tuesday)</td>
  </tr>
  <tr>
   <td>November 4</td>
   <td>N/A</td>
   <td>$405.3 million (Monday)</td>
  </tr>
 </tbody>
</table>
<p style="text-align: justify">Analysts observed that despite recent negative ETF flows, Bitcoin can stage price rebounds. The immediate focus for digital asset traders is whether BTC can hold above the $78,000 mark in the near term.</p>
<h2 id="key-levels-and-outlook-for-bitcoin-price">Key levels and outlook for Bitcoin price</h2>
<p style="text-align: justify">BTC faces resistance as it approaches $80,000, a psychological barrier for traders. A daily close above this level would shift focus to the 30-day moving average at $81,319, followed by potential movement toward $82,000, a zone identified by digital asset research firm 10x Research and market maker QCP Capital.</p>
<p style="text-align: justify">Failure to maintain support near $78,000 could send the price lower, exposing Bitcoin to $76,000 and possibly the next line of support at $75,000, while the 200-day moving average sits near $73,200.</p>
<p style="text-align: justify">Wider financial conditions may also impact BTC’s recovery trajectory. Rising US Treasury yields and technical weakness in technology stocks could act as additional headwinds for further gains.</p>
<blockquote>
 <p>Paradigm estimated $660 million in Bitcoin options block trades on election day, more than double the previous session’s activity, indicating heightened derivatives interest as prices recovered from session lows.</p>
</blockquote>
<p>The post <a href="https://en.coin-turk.com/bitcoin-climbs-0-7yuzde-to-78354-etf-outflows-reach-1-16-billion-post-election/" rel="noopener noreferrer nofollow">Bitcoin climbs 0.7% to $78,354, ETF outflows reach $1.16 billion post-election</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Bitcoin climbs 0.7% to $78,354, ETF outflows reach $1.16 billion post-election

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