Bitcoin Holds Near $76,000 as Long-Term Buyers Add While ETF Holders Sell $412 Million

Bitcoin held near $76,045 on Saturday morning even as US spot Bitcoin ETFs recorded about $412 million in net outflows on Friday — because long-term buyers kept adding while short-term ETF holders sold. The split between patient capital and fast money is the real story of this week.

Bitcoin traded at $76,045 at about 08:10 UTC on November 7, after a November 6 close of $75,792, resting on its 50-week average near $75,559. The price is still 39.72% below its $126,156 all-time high. Follow daily market coverage on the Zimbuck News page and discuss the levels in the Zimbuck Market News group.

The hot jobs report that revived hike bets

The headwind arrived from macro data. October nonfarm payrolls rose 165,000 against an estimate of 65,000, September was revised up from 29,000 to 60,000, and unemployment fell to 4.1% against a 4.2% forecast. The 10-year Treasury yield rose 6.4 basis points to 4.894%, and traders pushed the odds of a December rate hike toward 80%, up from about 70% before the release, as reported in the November 7 Bitcoin market roundup. Strong jobs data normally pressures Bitcoin, because it gives the Federal Reserve room to stay restrictive for longer.

ETF holders sold — $412 million out on Friday

• Spot Bitcoin ETF net outflows: about $412 million on Friday, November 6
• BlackRock's IBIT accounted for about $403 million of that total
• Fear & Greed Index: 25 — Extreme Fear, down from 50 (neutral) two days earlier
• 24-hour liquidations: about $164.9 million, roughly 64% from long positions — down sharply from close to $1 billion a day earlier
• Ethereum: up about 0.9% near $2,246

That pattern — heavy ETF selling, extreme fear, but a price that refuses to break its 50-week average — usually means someone else is absorbing the supply. This week, the filings show exactly who.

The buyers: a treasury, a central bank and a wealth platform

Strive acquired 15,124 BTC between October 1 and October 30, according to its third-quarter results filed with the SEC — corporate treasury buying straight through the drawdown. Kazakhstan's central bank announced a $90 million investment in Bitcoin-focused ETFs, alongside $100 million across crypto funds, at a conference in Almaty on November 5, per Bloomberg as reported by Galaxy Research. And LPL Financial's spot Bitcoin ETF holdings stood at $261 million at September 30, per its Q3 filing — evidence that wealth-platform allocation kept growing even before this dip.

None of these buyers trade on daily headlines. A central bank building a $190 million combined crypto allocation, a treasury adding more than fifteen thousand bitcoin in a month, and a wealth platform holding a quarter-billion dollars of ETF exposure are positioning on multi-year horizons. Their buying does not prevent drawdowns — Bitcoin is down about 7% over 30 days — but it changes who owns the coins that ETF sellers are exiting.

What to watch next

Two data prints now decide the next leg: October CPI on November 10 and PPI on November 13. A soft CPI would undercut the December hike pricing that the jobs report created; a hot print would confirm it and test the $74,800–$75,559 support zone again. For context on how these flows work mechanically, read our guide to how crypto ETFs work and what ETF flows mean, and see how the selling looked on the Ethereum side in Ethereum ETFs lose $93.19 million in a day.

FAQ

Why did Bitcoin not fall further after $412 million of ETF outflows? Because selling was met by other demand — treasury, central-bank and wealth-platform buying reported in filings this week — and because liquidation pressure had already cleared, falling from close to $1 billion to about $164.9 million in 24 hours.

What is the 50-week average and why does it matter? It is Bitcoin's average closing price over the last 50 weeks, currently near $75,559. Long-term holders watch it as a bull-market support line; holding above it keeps the long-term trend technically intact.

Why does a strong jobs report hurt Bitcoin? Strong employment gives the Federal Reserve room to keep rates higher for longer or even hike in December, which strengthens the dollar and tightens financial conditions — both headwinds for risk assets.

Is Kazakhstan's central bank buying Bitcoin directly? The announced allocation is $90 million into Bitcoin-focused ETFs plus $100 million across crypto funds — exposure through regulated funds, not direct spot custody, according to the reports.

Want the next ETF flow numbers and CPI reaction as they land? Join the conversation on Zimbuck — the finance social platform for traders & investors.

This article is market news and general information only, not financial advice.