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Bitcoin holds above $77K ahead of US midterm elections
Bitcoin traded between $77,000 and $78,600 on November 1 and 2, 2026, remaining above its 100-day moving average near $76,463. The period preceded US midterm elections, Apple and Palantir earnings, and the October jobs report, while spot Bitcoin ETFs recorded $643.2 million in net outflows on October 30.
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What happened
Bitcoin traded between $77,000 and $78,600 on November 1 and 2, 2026, remaining above its 100-day moving average near $76,463. The period preceded US midterm elections, Apple and Palantir earnings, and the October jobs report, while spot Bitcoin ETFs recorded $643.2 million in net outflows on October 30.
Confirmed
Global impact / market context
Bitcoin’s price staying above its recent average may indicate that buyers have continued to defend that level, but the ETF outflows point to money leaving listed Bitcoin funds. Election results and jobs data can change expectations, potentially prompting investors to adjust Bitcoin holdings and affecting demand.
Analyst inference
Several events were clustered into one week: corporate earnings, US midterm voting, and the jobs report. The article also notes a Binance hot-wallet security incident, involving an internet-connected account used for withdrawals. These factors accompanied Bitcoin’s trading below $80,000 and the ETF outflows.
Confirmed
What to watch
- Whether Bitcoin remains above the reported $76,463 100-day average, a measure of its average price over 100 days, or falls below it in subsequent trading. Analyst inference
- The October jobs report, due November 6, and election results may shift economic and policy expectations, changing investor demand for Bitcoin and related funds. Analyst inference
- Whether spot Bitcoin ETFs continue recording net outflows after the $643.2 million reported for October 30; sustained withdrawals would indicate continued investor selling through those funds. Analyst inference
Affected assets
- BTC — Bitcoin