Bitcoin hovered around $76,800 on November 4, 2026, as cautious investor sentiment persisted due to continued outflows from US spot Bitcoin exchange-traded funds (ETFs) and uncertainty surrounding the US midterm elections. Bitcoin slipped 0.36% to $76,843, while Ethereum edged up 0.06% to $2,259, according to Purvang Mashru, Lead Analyst at BitDelta India. Among the top 10 cryptocurrencies, six advanced, while BNB and Solana remained lower.
Institutional demand for Bitcoin has remained weak, with US spot Bitcoin ETFs recording net outflows of $398.6 million on November 2, following withdrawals of $643.2 million on October 30. This brought the combined outflows to over $1 billion across the two trading sessions. Another indicator of tightening liquidity is the decline in stablecoin supply, which fell by $5.55 billion, or 1.84%, between October 27 and November 3, to $296.01 billion.
Nischal Shetty, Founder of WazirX, noted that the crypto market is showing signs of stabilisation, although broader sentiment remained cautious. He identified $76,000 and $75,000 as key downside levels for Bitcoin, while $77,000-$78,000 remains an immediate upside range to watch. Uncertainty over the US midterm election outcome has also brought the pace of cryptocurrency policymaking into focus, with expectations of slower legislation or greater regulatory uncertainty potentially affecting investor sentiment.
Vikas Gupta, Country Manager, India at Bybit, said outflows from US spot Bitcoin and Ethereum ETFs indicated a cautious approach among some institutional investors. He added that stabilisation in global equity markets, improving risk appetite, and renewed institutional inflows could support a recovery in cryptocurrency prices. Market participants will track ETF flows, global market developments, and upcoming US economic data for cues on Bitcoin's near-term direction, with the US October employment report scheduled for November 6 being a key release.