Bitcoin edged up about 0.2% to around $76,900 on Tuesday after dipping to $76,300 in the European morning, as investors weighed heavy ETF outflows against the uncertainty of the U.S. midterm elections, according to CoinDesk.
The cryptocurrency had fallen about 2% overnight, wiping out Monday’s brief recovery and leaving it below the $77,600 level tested late Sunday. Trading remains cautious with U.S. voters heading to the polls.
Bitcoin ETF Outflows Hit Second Straight Day
U.S. spot Bitcoin ETFs lost $399 million on Monday, their second consecutive day of outflows, per data from Farside Investors. BlackRock’s IBIT alone shed $405 million — its largest daily outflow since June.
That followed a far heavier session on Friday, October 30, when the funds lost $643.3 million — the biggest single-day withdrawal since June — erasing roughly 64% of the funds’ 2026 net inflows in one session, according to SoSoValue data.
Binance Withdrawals Top $4.7 Billion as Midterms Loom
Pressure isn’t coming from ETFs alone. Binance customers have withdrawn a net $4.72 billion since the exchange reopened on Sunday, following last week’s $6.3 billion hack that the company blamed on the North Korean group TraderTraitor.
New attacks have also rattled the market: Brazil’s Mercado Bitcoin saw an estimated $40 million drained from hot wallets, according to security firm Hypernative. Spot Ethereum ETFs lost $140 million on Monday as well, extending weakness across institutional crypto products.
With the midterms on Tuesday and the U.S. jobs report due Friday, analysts say volatility could stay elevated — prediction markets see about a 94% chance of Democrats taking the House, which could push crypto legislation further down the road.
Bitcoin (Credits: CoinDesk)
Also Read: Tether Holds 150,000 Bitcoin Worth $11.5 Billion, CEO Paolo Ardoino Says and North Korea Denies Role in $6.3 Billion Binance Hack After FBI Points to TraderTraitor
Source: CoinDesk — read the full story there.
