Bitcoin recovered to about $78,300 on November 4, 2026, after briefly falling to a seven-week low near $75,600 as U.S. midterm election results initially unsettled cryptocurrency markets. The rebound erased earlier losses and came despite a third straight session of net outflows from U.S. spot Bitcoin exchange-traded funds. BTC traded nearly 1% higher after buyers returned near the $75,600–$76,000 support area.
Democrats won control of both chambers of Congress, leaving President Donald Trump with a divided government for his remaining term. The result raised questions about the prospects for crypto legislation intended to establish clearer rules for digital asset markets. Nasdaq 100 futures initially fell, Treasury yields and the dollar weakened, and Bitcoin dropped to its lowest level since September 17 after losing support around $77,000. However, financial markets steadied and Bitcoin reclaimed the $78,000 level.
ETF flow data underscore the cautious backdrop. U.S. spot Bitcoin ETFs saw about $115.6 million in net outflows on November 3, following $398.6 million on November 2 and $643.2 million on October 30. That brought three-session withdrawals to roughly $1.16 billion. BlackRock’s IBIT accounted for approximately $95 million of the November 3 redemptions after $405.3 million in outflows during the prior session, while Fidelity’s FBTC and Bitwise’s BITB posted smaller inflows. The Crypto Fear & Greed Index fell to 34 on November 4 from about 70 a month earlier. Total crypto market capitalization stood near $2.66 trillion, with Bitcoin dominance near 59%.
Analysts offered a guarded but more bullish tone. Crypto analyst Michaël van de Poppe described the recovery as a possible “sell the rumor, buy the news” reaction and said he was “extremely bullish on #Bitcoin from here.” Ali Martinez pointed to the short-term holder realized price of $75,875 as a key support level, comparing the latest dip to prior bottoms in March 2023, June 2023 and May 2024. Doctor Profit said Bitcoin was testing resistance around $78,400, with a daily close above that level reinforcing buyer control. Traders are watching $79,500 as the next resistance, followed by $80,000, while the $75,600–$76,000 area remains the nearest support established during the selloff.
