US Bitcoin Update - 4 Nov
US Midterm Effect - Per Reuters Nov 4:
Democrats won majorities in both Senate + House in US midterm elections.
Crypto dipped on news - industry feared slower deregulation.
BTC Price - Per Market Data Nov 4:
- Low: $75,736 - 6-week low, touched ∼03:00 UTC
- Recovery: $78,070 by 07:15 GMT, up ∼2.17% on day
- Now trading: ∼$78,300 - $78,700 range
- Support: $76,000 - $76,300
- Resistance: $78,000 - $79,500 / $80,500
- 38% below ATH $126,156
US ETF Pressure - Per Bloomberg / SoSoValue:
- Nov 3: $27M net outflow - slowing
- Nov 2: $399M net outflow
- Oct 30: $643.2M outflow
- Fri + Mon total: $1.04B outflows
Binance Flow Improving - Per Proactive / Reuters:
Binance reporting net inflows ∼$2.3B after heavy withdrawals.
Total net withdrawals since reopening: $4.72B as of Tuesday - vs $171B AUM = still small %
Next US Catalyst:
US October Jobs Report - Nov 6
#bitcoin #BTC #BinancePick $BTC
US Midterm Effect - Per Reuters Nov 4:
Democrats won majorities in both Senate + House in US midterm elections.
Crypto dipped on news - industry feared slower deregulation.
BTC Price - Per Market Data Nov 4:
- Low: $75,736 - 6-week low, touched ∼03:00 UTC
- Recovery: $78,070 by 07:15 GMT, up ∼2.17% on day
- Now trading: ∼$78,300 - $78,700 range
- Support: $76,000 - $76,300
- Resistance: $78,000 - $79,500 / $80,500
- 38% below ATH $126,156
US ETF Pressure - Per Bloomberg / SoSoValue:
- Nov 3: $27M net outflow - slowing
- Nov 2: $399M net outflow
- Oct 30: $643.2M outflow
- Fri + Mon total: $1.04B outflows
Binance Flow Improving - Per Proactive / Reuters:
Binance reporting net inflows ∼$2.3B after heavy withdrawals.
Total net withdrawals since reopening: $4.72B as of Tuesday - vs $171B AUM = still small %
Next US Catalyst:
US October Jobs Report - Nov 6
#bitcoin #BTC #BinancePick $BTC