Bitcoin Holds Near $76,000 as U.S. Spot ETFs Lose $842 Million in Two Sessions

Since the post-midterm rally faded and the Nasdaq slid into a correction on Nov. 6, Bitcoin has given back its election-week gains. It was trading around $76,100 early Saturday, up 0.59% at 3:13 a.m. ET. That is a modest bounce after a drop of roughly 5% to 6%, with the low near $75,200.

The price damage

Bitcoin closed Nov. 5 at its lowest level in a month. At about $75,800 it sits roughly 39.9% below its all-time high of $126,080, set Oct. 6, 2025. It is down about 13.5% for 2026.

The pressure came from outside crypto. A broad technology-stock rout, tied to doubts about the durability of artificial intelligence spending and data-center construction, soured risk appetite across markets.

Leveraged traders made it worse. More than $1.27 billion in crypto derivatives positions were liquidated in a 24-hour window, including over $1.1 billion in bullish bets. Forced selling amplified the move.

ETF money is leaving

U.S. spot Bitcoin ETFs have now posted two straight sessions of net withdrawals:

• Nov. 5: $430.2 million out, per Farside Investors. Fidelity's FBTC lost $199.9 million, BlackRock's IBIT $105 million, Grayscale's GBTC $49.9 million, Franklin Templeton's EZBC $32.9 million and ARK 21Shares' ARKB $18.9 million.
• Nov. 6: $411.9 million out, per SoSoValue. IBIT accounted for about $403 million. FBTC took in $42.8 million, the only fund with a net inflow.

The two sessions total about $842 million. November's net withdrawals reached roughly $1.28 billion through Friday. Wednesday, Nov. 4, was the only positive session of the month, at $74.6 million.

Even that day was lopsided. FBTC drew $236.7 million while IBIT lost $201.2 million.

The funds still hold a large pile of money. Their combined net assets were about $95.9 billion as of Nov. 6, or 6.28% of Bitcoin's total market capitalization. Cumulative net inflows since launch remain positive at roughly $55.7 billion, per SoSoValue.

ETF flows matter because of how the products work. When investors redeem shares, funds may have to sell Bitcoin to meet them. Sustained redemptions can add selling pressure, though flows alone do not set the price.

Washington's role

The midterm results add a political layer. Democrats won control of Congress while Republicans hold the White House. Dan Khus, chief analyst at LVRG Research, said the split "introduces a period of divided government that could heighten policy uncertainty around crypto regulation and fiscal priorities, potentially weighing on Bitcoin in the near term as markets price in greater legislative gridlock."

Ryan Kirkley, co-founder and CEO of Global Settlement Network, singled out the CLARITY Act as the bill most at risk. He said disputes over regulatory jurisdiction, stablecoin rewards and the treatment of different digital assets had already slowed it under Republican control. The House passed the bill with 78 Democrats joining Republicans, a sign of bipartisan support that may now matter more.

Kirkley rejects the idea that the election changes the underlying case for institutional money. "I don't think the election fundamentally changes Bitcoin's outlook," he said. "Institutional investors are still making decisions based on liquidity, monetary policy and portfolio allocation." He called the Nov. 4 inflow encouraging but warned against treating one session as proof the selling was over.

Mark Moss, a figure in the crypto space, argued Bitcoin's decentralization and security mechanisms let it withstand regulatory pressure.

Hong Kong shows a split

Outside the U.S., the picture is mixed. Hong Kong has four spot Bitcoin ETFs listed. The first three launched April 30, 2024, and MicroBit joined in August 2025.

November month-to-date figures from a regional ETF tracker show small outflows there too: $5.71 million from ChinaAMC, $1.58 million from Bosera HashKey and $68,880 from Harvest.

Hong Kong's Private Wealth Management Report 2026 put private banking and wealth management assets at HK$12.9 trillion ($1.65 trillion) in 2025, up 24%. The report found 43% of surveyed firms have added crypto ETFs.

What traders are watching

Traders are watching $80,000 as a recovery marker and $73,000 as possible support. A repeat of the $400 million outflows would test the lower level.

U.S. markets reopen Monday, Nov. 9, and that session's ETF flow data will show whether the Fidelity inflow was an outlier or the start of a turn.