Bitcoin traded around $76,700 on Tuesday, November 3, down nearly 2% over 24 hours, ahead of the US midterm elections. More than $100 million in long positions were liquidated when the price fell below $77,000, while the Fear & Greed Index dropped to 26. US spot Bitcoin ETFs recorded outflows of $643.3 million on Friday and $398.6 million on Monday, even as Tether, Strategy and Coinbase bought bitcoin. Limited US strikes on Iran’s Qeshm Island and the midterms are driving uncertainty, although market bets do not point to a clear direction. Bitcoin nevertheless remains above its 50-week moving average, currently near $75,800.
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