TLDR
Bitcoin traded near $80,320 on November 5, up more than 3% in 24 hours.
BTC had dropped toward $75,600 during the U.S. midterm election results.
Spot Bitcoin ETFs took in $74.6 million on November 4, ending three days of outflows.
Fidelity’s FBTC drew $236.7 million while BlackRock’s IBIT lost $201.2 million.
About $378 million in short positions were liquidated within one hour.
Bitcoin (BTC) traded near $80,320 on November 5, up more than 3% over 24 hours. The move came after the price slipped toward $75,600 as U.S. midterm election results came in on November 3.
The rebound was supported by fresh money in spot Bitcoin ETFs, rising U.S. stocks, and a wave of forced short closures. BTC briefly climbed above $81,000 before settling near the $80,000 level.
Democrats won control of both chambers of Congress in the midterms. Crypto traders were uneasy at first because Democratic lawmakers could take a tougher approach to pending digital asset bills.
Markets steadied as investors weighed the results. The S&P 500 rose about 1.6%, oil prices fell, and a weaker dollar and lower Treasury yields lifted demand for risk assets.
Crypto analyst Ted said Bitcoin’s ability to absorb negative news suggested “the bottom is in.” Still, he put the chance of a new all-time high by July 2027 at only 16%, adding that a record could come later that year.
There’s only a 16% chance that Bitcoin will hit a new ATH by July 2027.
The way $BTC has absorbed all the bad news over the past week, it’s clear that the bottom is in.
Also, the cycle is accelerating, as last time we hit a new ATH before halving.
So, I wouldn’t be surprised… pic.twitter.com/KXfM8s2Tbc
— Ted (@TedPillows) November 4, 2026
A short squeeze sped up the recovery. CoinGlass data showed about $378 million in short positions were liquidated within one hour, out of nearly $747 million in total liquidations.
Short liquidations happen when exchanges force-close leveraged bets against an asset. Those traders must buy back their positions, which adds buying pressure.
The gains spread across the market. Ethereum (ETH) rose almost 6% to about $2,425, XRP gained 3% to $1.31, Solana (SOL) climbed 4% to $96, and BNB added 2% to around $710.
Zcash (ZEC) led the major coins, jumping over 7% to nearly $1,320. It recorded $1.2 billion in trading volume over the past 24 hours.
Fidelity Buys While BlackRock Sells
U.S. spot Bitcoin ETFs took in $74.6 million in net inflows on November 4, according to Farside Investors. That ended three straight sessions of withdrawals, but the largest issuers moved in opposite directions.
Fidelity’s FBTC attracted $236.7 million, its largest daily inflow in the latest reported sessions. ARK Invest’s ARKB added $19.9 million, and Bitwise’s BITB took in $15.2 million.
BlackRock’s IBIT went the other way, losing $201.2 million. Those outflows cancelled out most of the money that entered the other funds.
The positive day followed a rough stretch for the products. Investors pulled $643.2 million on October 30, $398.6 million on November 2, and $115.6 million on November 3.
Those three sessions removed about $1.16 billion from Bitcoin ETFs. The November 4 inflows have recovered only a small part of that total.
Bitcoin Faces a Test at $82,000
On the daily chart, BTC at around $80,688 sat above the middle Bollinger Band at $80,274. The Relative Strength Index rose to 51.28, up from its moving average of 41.87.
Bitcoin Price on CoinGecko
Immediate resistance sits between $81,300 and $82,000, with the upper band near $84,240 beyond that. Support lies at the middle band, followed by the lower band near $76,308.
CryptoQuant contributor CryptoZeno said Bitcoin has not yet reached conditions linked to a confirmed bottom. He reported the Bitcoin Cycle Extremes Index fell to 15.8% on its 30-day moving average, a reading he places in the “Watch / Mild Pressure” zone.
His Cycle Extreme Oscillator also stayed below the 1.0 level tied to stronger market activity in past cycles. CryptoZeno said a sustained recovery in both indicators is needed before he would see conditions as improving.
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