BTC Price Recovers From Seven-Week $75,653 Low as Democrats…
By Tobi Opeyemi Amure
AI summary of the source article
Bitcoin rebounded to $78,195 on Wednesday after dropping to a seven-week low of $75,653 during US midterm vote counting. Meanwhile, outflows from US spot bitcoin exchange-traded funds slowed significantly over three consecutive sessions.
Why it matters
Investors feared intensified SEC and CFTC enforcement actions "would weigh on hedge funds building long-term positions."
Key facts
- Bitcoin fell to an overnight low of $75,653 before recovering over $2,542 to reach $78,195.
- US spot bitcoin funds shed $1.16 billion across three sessions, though daily outflows dropped 82% from $643.33 million on 30 October to $115.56 million on 3 November.
- Kalshi's contract on a qualifying crypto market structure bill becoming law before 1 January 2027 traded at a 6% probability.
Source excerpt · FinanceFeeds
Bitcoin fell to $75,653 early on Wednesday while US midterm votes were counted, then clawed back most of the drop inside eleven hours. The BTC price was $78,195 at 15:09 GMT+1, up 1.35% on the session and 1.93% over 24 hours, according to TradingView . That low landed at 04:09 GMT+1 and undercut the $76,100 bitcoin touched on Friday after the Binance breach. Bitcoin traded lower than that as recen…