Bitcoin after the US midterms: Can the recovery outlast ETF selling?

Bitcoin has bounced after a volatile election night, but fund withdrawals started before Americans finished voting. The next stage of the recovery will depend on whether demand returns as investors reassess Congress, interest rates and exchange risk. Summary Bitcoin recovered towards $77,900 after a November 4 trading range extending down to approximately $75,700. Farside’s rounded data recorded $643.2 million of US spot Bitcoin ETF withdrawals on October 30. The funds lost another $398.6 million on November 2 and $115.6 million on November 3. The Federal Reserve held its policy range at 3.75%–4% on October 28. October’s US employment report is scheduled for November 6 at 8:30 am Eastern. Bitcoin has recovered towards $78,000 after falling close to $75,700 as US midterm results arrived, while a third consecutive session of ETF withdrawals has left the rebound competing with institutional selling. According to the crypto.news price page, Bitcoin traded near $77,851 on November 4, within a 24-hour range of approximately $75,695 to $77,990. The Associated Press reported that Democrats had won control of both chambers of Congress. Investors now face a different political balance for th...