Bitcoin Stabilizes After $869.8 Million Leaves Spot ETFs

What happened: Bitcoin fell to approximately $74,762 on November 7 before trading around $75,800 toward the end of the day, according to the supplied research. US spot Bitcoin ETFs lost approximately $869.8 million across November’s opening four sessions, including $430.2 million on November 5, while reported crypto liquidations exceeded $1 billion. The same roundup linked the macroeconomic backdrop to October payroll growth of 165,000 against 65,000 expected, alongside an increase in reported December Federal Reserve rate-hike odds from 66.9% to 76.8%.

Why it matters: The ETF withdrawals and liquidations describe separate forms of pressure: investors pulling capital from listed Bitcoin products, and leveraged positions being forcibly closed, so combining them into a single measure of investor selling would obscure how the market moved. The latest Bitcoin quote is above the reported November 7 low, but that recovery alone cannot demonstrate renewed ETF demand or establish that leverage has finished unwinding. The stronger employment reading also complicates a straightforward recovery narrative because the reported shift in rate expectations gives traders a macroeconomic concern alongside the crypto-specific exchange and enforcement headlines.

Source: Cointelegraph.