Key takeaways
- Bitcoin retreats toward $75,000 after failed recovery
- Spot Bitcoin ETFs lose $430 million daily
- Breaking $75,000 could expose $72,000 support
Bitcoin fell toward $75,000 on November 6, surrendering its post-election recovery above $80,000 as another wave of institutional selling pushed cryptocurrency prices lower.
The latest decline coincided with $430.2 million in net withdrawals from US spot Bitcoin exchange-traded funds on November 5, according to Farside Investors. That reversed the previous session's $74.6 million inflow and reinforced concerns about weakening demand.
Bitcoin ETF Outflows Reach $430 Million as Recovery Collapses
The latest ETF withdrawals mark a sharp reversal from Wednesday, when Fidelity's FBTC attracted $236.7 million and helped offset substantial selling in BlackRock's IBIT.
On Thursday, Fidelity recorded approximately $199.9 million in outflows, while BlackRock lost another $105 million.
The combined $430.2 million withdrawal brought November's first four trading sessions to approximately $869.8 million in net outflows.
Coinpaper's latest Bitcoin ETF analysis documented how the renewed selling accompanied Bitcoin's decline toward $75,000.
The reversal is particularly notable because Bitcoin had reclaimed $80,000 following the elections, briefly encouraging expectations of a stronger recovery.
However, weakening technology stocks and renewed risk aversion undermined that rally.
The latest losses also extend a difficult period for institutional products. An earlier three-session ETF withdrawal streak removed approximately $1.16 billion before Wednesday's temporary improvement.
Bitcoin Price Prediction: Will $75,000 Support Hold?
Bitcoin's immediate technical outlook depends on whether buyers can defend the $75,000–$75,800 region.
The zone includes the latest trading lows and a weekly support level near $75,796.
A sustained breakdown below $75,000 could expose $73,900, followed by the $72,000–$71,700 area identified by lower daily pivot levels.
That bearish scenario would become more convincing if ETF withdrawals continue and Bitcoin fails to recover lost support.
However, stabilization above $75,000 could encourage a technical rebound toward $77,400, the current daily pivot.
A stronger move above $78,000 would bring $79,600 into focus, followed by the psychologically important $80,000 threshold.
That level previously acted as a recovery target when Bitcoin struggled below $77,000 earlier this week.
Can Institutional Demand Support Bitcoin Again?
The next catalyst could be a stabilization in ETF demand after several sessions of heavy redemptions.
However, the latest selling coincides with broader market weakness, including a sharp decline in technology stocks and renewed concerns about AI-sector valuations.
Coinpaper previously examined how Bitcoin's retreat accompanied an S&P 500 selloff, illustrating its continued sensitivity to equity-market risk appetite.
