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Bitcoin Drops Below $77,000 as ETF Outflows and Midterm Caution Grip Crypto

Muhammad Harib
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Bitcoin slipped below $77,000 on Tuesday morning, November 3, as heavy ETF outflows, a fearful market mood and a week packed with elections and jobs data left buyers on the sidelines

Bitcoin fell back below $77,000 on November 3, extending a slide that has now run for four consecutive weeks. KuCoin's daily market report put Bitcoin at $76,808.90, down 1.97% over 24 hours as of November 3, 00:00 UTC, with Ethereum at $2,253.08, down 0.98%. Other snapshots through the morning told the same story with slightly different timestamps: TokenPost recorded Bitcoin at $76,943, down 1.87%, at 12:01 a.m. ET, while CoinGecko data cited by CoinGabbar put it at $77,178.96, down 2%, at 1:30 a.m. UTC. The exact print depends on the hour, but the direction does not: Bitcoin gave back an early gain, fell from around $78,412 to the $76,500–$77,200 zone, and stayed there. The Crypto Fear & Greed Index fell from 37 to 26, moving from neutral territory into outright fear.

1. ETF money is still walking out the door

The heaviest pressure is coming from institutional flows. US spot Bitcoin ETFs recorded around $643 million in net outflows on October 30, their largest single-day withdrawal since June, according to CNBC TV18's market coverage — a reversal that followed the late-October sell-off and added to selling pressure. A later flow tracker put November 2's net outflow at $398.6 million, with $738.9 million out over seven trading days. Strategy, the largest corporate Bitcoin holder, went the other way and resumed accumulating, buying 811 BTC worth $65.5 million — a reminder that not every large holder is selling, even as fund flows turn negative. Liquidations added to the churn: TokenPost counted $226 million liquidated across Binance, Bybit and OKX over 24 hours, of which $201 million were long positions, while CoinGlass data cited elsewhere put the total near $366 million. Trackers differ in coverage, so treat the range, not either single number, as the honest picture. The wider market fell with Bitcoin: total crypto market capitalisation stood around $2.60–$2.67 trillion, down roughly 0.5–3.7% depending on the snapshot, with Solana at $92.28, down 2.84%, BNB at $697.26, down 2.05%, and Dogecoin at $0.0742, down 2.23%. XRP was the rare gainer among the majors, up 0.02% to $1.25. For the wider picture of how fund flows have been splitting, our earlier ETF coverage is here: https://zimbuck.com/blogs/806/Ethereum-ETFs-Just-Logged-Their-Worst-Month-Since-Launch-While — and the Zimbuck News page is here: https://zimbuck.com/pages/zimbucknews with discussion at https://zimbuck.com/groups/zimbuckmarketnews.

2. Why traders are cautious: midterms, earnings and Friday's jobs report

This is not a market short of reasons to wait. Tuesday brings the US midterm elections, which decide control of Congress and could shape crypto, AI and bank regulation, plus the September JOLTS job-openings report. Tuesday's earnings slate includes AMD and Shopify. Wednesday brings the Treasury quarterly refunding announcement and ADP employment data, Thursday the Bank of England decision, and Friday the October nonfarm payrolls report — the week's main event for rate expectations, with the Fed having held at 3.75%–4.00%. The Nasdaq-100 has entered a technical correction, with semiconductors and optical communications under pressure, and Bitcoin's near-term options implied volatility for November 4 expiry rose to about 43.5%, against around 36% for later expiries — traders are paying up for protection into the week's events, not betting on a calm resolution. The levels traders are watching now:

  • Support: $76,000–$76,600 first, then the $75,682 liquidity level flagged by one morning brief.
  • Resistance: $79,500–$80,500 — reclaiming that zone would break the run of lower highs.
  • Sentiment: Fear & Greed at 26 (Fear), down from 37 — fear can mark capitulation, but it can also deepen before it turns.
  • Flows: ETF outflows are the tell — inflows returning would matter more than any single green candle.

FAQ

Why did Bitcoin fall below $77,000? A mix of heavy ETF outflows, weak sentiment after the late-October sell-off, tech-stock weakness and caution ahead of the midterms and Friday's jobs report.

How big were the ETF outflows? About $643 million on October 30, the largest single-day outflow since June, with further outflows reported on November 2.

Is the Fear & Greed Index at 26 a buy signal? Not on its own — fear readings can persist for weeks in a downtrend. They describe mood, not a price floor.

What would change the picture? A reclaim of $79,500–$80,500 on returning ETF inflows, or a softer-than-expected jobs report that eases rate-hike bets.

What happens this week? Midterms and JOLTS on Tuesday, Treasury refunding and ADP on Wednesday, the Bank of England on Thursday, and nonfarm payrolls on Friday.

Source for this story: KuCoin, Crypto Daily Market Report, November 3, 2026, https://www.kucoin.com/news/articles/crypto-daily-market-report-november-3-2026. This is market news and general information only, not financial advice. Join Zimbuck at https://zimbuck.com to follow more crypto coverage.