Bitcoin Rebounds Above $78,000 in a V-Shaped Comeback After Dipping Below $76,000
Bitcoin staged a sharp V-shaped recovery on Wednesday, November 4, 2026, falling below $76,000 in early trading and then climbing back above $78,000 within hours, as clearer United States midterm election results eased the political uncertainty that had weighed on markets. CoinDesk reported Bitcoin trading at $78,373.88 after erasing its early losses, up nearly 1% on the day, while other reports put the rebound near $77,890 to $78,077 depending on the hour measured. The swing matters because it came against a difficult backdrop: United States spot Bitcoin ETFs had just recorded $398.6 million in net outflows on November 2, with BlackRock's IBIT alone accounting for $405.3 million of withdrawals, and a further smaller outflow of around $27 million reported for November 3. That a dip below $76,000 — the first time since mid-September, according to TradingView — found buyers so quickly is the story of the day.
The scale of the shakeout shows in the liquidation data. Nearly $250 million in leveraged crypto positions were liquidated as Bitcoin broke lower over November 3–4, with broader market tallies putting total liquidations at approximately $366 million, about $100 million of it tied to Bitcoin positions specifically. Yet the options market told a different story from the panic: on election day, Paradigm printed about $660 million notional in Bitcoin options blocks, more than double the day before, with roughly $420 million of calls bought against about $105 million sold — traders spending around $230 million on call options betting on a rebound. Markus Thielen of 10x Research said a momentum indicator suggested Bitcoin was oversold and could rebound toward $82,000, while other analysts named $79,000 to $82,000 as the levels to watch next. Immediate support, according to market participants quoted by CNBC TV18, sits around $76,000 to $76,300, with $77,000 to $78,000 the immediate upside range to clear.
What is pulling in opposite directions
Two forces are now pulling Bitcoin in opposite directions, and the rebound does not settle which one wins. On one side, ETF demand — the market's most-watched institutional signal — is still negative: US spot Bitcoin ETFs recorded about $515 million in outflows in October, and roughly the same amount again left in the first two trading days of November, according to SoSoValue data cited by CoinDesk, while the Coinbase premium indicator has also stayed negative, pointing to weak US demand. The seven-day aggregate flow measure across ETFs and stablecoins reached approximately negative $5.03 billion by November 4, according to HTX Ventures' weekly recap, and the Crypto Fear and Greed Index fell 11 points from 46 (neutral) to 35 (fear). On the other side, exchange flows are improving: Binance reported net inflows of around $2.3 billion after several days of heavy withdrawals following the $6.3 billion hack, and the US dollar-pegged stablecoin market value fell by $5.55 billion (1.84%) between October 27 and November 3 to $296.01 billion — a sign of de-risking, but one that appears to be slowing. Ethereum, for context, traded near $2,259 to $2,276, down about 3.2% over the week. This follows earlier Zimbuck coverage of Bitcoin reclaiming $77,000 and BTC testing the $77,900 level.
The honest read is that Wednesday's recovery proves dip-buying appetite still exists, but not yet that the downtrend is over. As CoinDesk's analysis put it: if Bitcoin holds above $78,000 while ETF redemptions continue, it suggests buyers elsewhere are absorbing that supply; if ETF flows also turn positive, the recovery gains a second source of demand. Until then, traders are watching the same map: hold $76,000–$76,300 and the rebound has room toward $79,000–$82,000; lose it, and the mid-September lows come back into play. The next scheduled test is the US October employment report on November 6. Follow Bitcoin coverage on the Zimbuck News page and in the Zimbuck Market News group. Join the conversation on Zimbuck to share where you think Bitcoin goes next — rebound to $82,000, or another test of $76,000?
FAQ
How far did Bitcoin fall on November 4, 2026? Bitcoin dipped below $76,000 in early trading — its first time below that level since mid-September — before rebounding above $78,000 the same day.
How much was liquidated in the drop? Nearly $250 million in leveraged crypto positions were liquidated, with broader tallies near $366 million in total, about $100 million of it Bitcoin positions.
What happened with Bitcoin ETF flows? US spot Bitcoin ETFs saw $398.6 million in net outflows on November 2, led by $405.3 million from BlackRock's IBIT, plus a smaller outflow of around $27 million on November 3.
Why did traders buy calls during the sell-off? Paradigm printed about $660 million in Bitcoin options blocks on election day, with roughly $420 million of calls bought — a bet that the post-election dip would reverse.
What levels matter now? Support around $76,000–$76,300, immediate upside $77,000–$78,000, and analysts' next targets at $79,000–$82,000.
What is the next catalyst? The US October employment report, scheduled for November 6, plus the daily ETF flow prints.
This article is market news and general information only, not financial advice.
