Bitcoin Bounces Back From 6-Week Low Despite $1B ETF Exodus

Bitcoin rose above $78,000 and reached $78,500 after falling to a six-week low, while U.S. spot Bitcoin exchange-traded funds recorded about $1.16 billion in net withdrawals over three consecutive sessions. Daily outflows slowed from $643.2 million on October 30 to $398.6 million on November 2 and $115.6 million on November 3. BlackRock’s iShares Bitcoin Trust led Tuesday’s withdrawals at $95 million, and Grayscale’s Bitcoin Mini Trust lost $52.6 million. The selloff had followed security concerns and uncertainty over U.S. crypto legislation after Democrats won control of both congressional chambers; institutional investors were still reducing exposure.