Bitcoin price remains under pressure after US spot Bitcoin exchange-traded funds recorded 430.2 million USD in net outflows on November 5. The withdrawals reversed the 74.6 million USD inflow recorded one day earlier and brought November's cumulative outflows to 869.8 million USD across the first four trading sessions, according to CryptoRank.io.
ETF Demand Turns Uneven
CryptoRank.io reported that none of the listed funds posted a positive net flow on November 5. BlackRock's IBIT recorded 105 million USD in withdrawals, while Fidelity's FBTC lost 99.9 million USD. The latest outflow followed withdrawals of 398.6 million USD on November 2 and 115.6 million USD on November 3.
The figures point to cautious institutional demand, but ETF flows alone do not establish the cause of a Bitcoin move. The same report said Bitcoin opened November 5 near 80,444 USD before reaching an intraday low near 75,035 USD. It described the decline as part of broader weakness in both investment products and the crypto market.
Key Levels For Investors
Investing.com displayed Bitcoin at 75,910.4 USD at 18:24:45 Berlin time on November 6. The page showed a 24-hour range of 74,955.1 to 76,378.2 USD, a market capitalization of 1.53 trillion USD and 24-hour volume of 35.91 billion USD. Because the displayed page does not provide a verified UTC closing price for November 5, no UTC daily percentage comparison is included here.
A November 3 analysis by 21Shares identified 76,000 to 78,000 USD as a key area for November. It said a sustained recovery would require Bitcoin to reclaim 80,000 to 82,000 USD while ETF flows return and the market assesses the aftermath of a 6.3 billion USD Binance hack reported in late October.
Political Relief Was Not Enough
Bitcoin had briefly rebounded above 78,000 USD after the US midterm election results, as reported by CoinDesk. The publication cited analysts who viewed the clearer result as a reduction in political uncertainty, while also noting that the broader trend remained below resistance near 80,000 to 82,000 USD. That earlier rebound did not prevent the renewed ETF selling seen on November 5.
For investors, the immediate question is whether Bitcoin price can hold the lower support zone while institutional flows remain negative. A recovery above the upper resistance area would provide stronger evidence of improving demand; a break below support would keep the market's recent weakness in focus.
More Bitcoin coverage is available on the Bitcoin topic page.
