Bitcoin Price Today: BTC Stalls Below $76,000 as ETF Outflows Top $1 Billion and Fifth Losing Week Looms

NEW YORK — Bitcoin traded flat on Sunday, holding just below $76,000 as heavy fund outflows and weak sentiment kept a lid on any recovery.

Bitcoin traded at $75,851 as of 12:20 UTC on Nov. 8, down 0.08% over 24 hours, as trading volume fell 58.44%. Its 24-hour range ran from $75,540.51 to $76,105.67.

Weekly losses

Bitcoin remained below $76,000 after falling nearly 3% over the preceding seven days. It is on track for a fifth straight losing week.

The cryptocurrency is down 7.4% over 30 days.

Election swing

After Democrats won both chambers of Congress in the midterm elections, bitcoin jumped above $80,000 on Nov. 4, then fell back below $76,000 a day later.

ETF outflows

U.S. spot bitcoin ETFs recorded $1.28 billion in withdrawals during the Nov. 2-6 trading week.

Regulatory pressure

Binance is preparing to close certain European customer accounts by Dec. 31 after the expiration of the EU's Markets in Crypto-Assets transition period.

Sentiment

Sentiment remained in fear territory, with fewer active addresses and lower search interest pointing to weaker market participation.

Altcoins

As of Nov. 7, ether traded at $2,237, XRP at $1.16 and Solana at $89.71, with Solana down 18.7% over 30 days.

This article is for informational purposes only and is not investment advice.