Key Takeaways
- Bitcoin traded around $80,600 on November 5, up roughly 4.5% in 24 hours.
- Prices had dipped to about $75,600 earlier in the week.
- US spot Bitcoin ETFs, led by BlackRock's IBIT, recorded a third consecutive day of net outflows.
Bitcoin climbed back above $80,000 on Thursday, November 5, 2026, recovering from a dip to roughly $75,600 earlier in the week. Bitcoin traded near $80,600, up about 4.5% over 24 hours, while Ether rose around 7% to roughly $2,420, according to market data reported on November 5.
What moved the market
The rebound followed the US midterm elections on November 3. Market commentary pointed to reduced political uncertainty once results came in, although the outcome has also lowered expectations for crypto-specific legislation in the near term. Read our explainer on the CLARITY Act outlook.
The week began under pressure. Bitcoin slipped toward $76,000 on November 3 as US spot Bitcoin ETFs recorded outflows of about $643 million on October 30 and about $399 million on November 2, according to market reports. The fallout from the $6.3 billion Binance hack and a hawkish Federal Reserve added to the caution.
ETF flows remain weak
Despite the price recovery, BlackRock's iShares Bitcoin Trust (IBIT) led US spot Bitcoin ETFs in a third consecutive day of net outflows, suggesting institutional demand has not yet returned in force.
Levels traders are watching
Analysts highlighted the $75,000 to $76,500 zone, where the 200-day exponential moving average and the 50-week moving average converge, as nearby support. Sentiment remained cautious, with the Crypto Fear and Greed Index in "Fear" territory earlier in the week.
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This article is for informational purposes only and is not financial advice.
This content is for educational purposes only and is not financial advice. Cryptocurrency investments are volatile and risky. Some links may be affiliate links — see our disclosure.