Bitcoin traded back above the $76,000 mark on Nov. 7, 2026, sitting roughly 5.5% below its weekly rally high of $80,470 reached earlier. Yet beneath the weekly price correction, market capital flows have split in two opposing directions.
$1.28 Billion Outflow from Spot ETFs
Market selling pressure was fueled by redemptions from US spot Bitcoin ETFs. On Nov. 6, 2026, the investment vehicles recorded a single-day net outflow of $411.9 million.
That daily drain extended a week-long trend of capital outflows. Total net outflows from spot Bitcoin ETFs over the five trading days between Nov. 2 and Nov. 6, 2026, reached $1.2817 billion. Across those five market sessions, Wednesday was the sole day to log net inflows.
Dormant Whale Scoops 3,009 BTC
Amid the heavy capital exodus from equity markets, on-chain data from Lookonchain captured a counter-trend directly on the blockchain. A Bitcoin whale dormant for over a year suddenly resurfaced, buying 3,009 BTC worth $228 million within a single day.
The dormant whale’s accumulation underscores strong institutional buying interest in the $75,000 to $76,000 support zone. Supply unloaded by exchange investors was absorbed directly into newly reactivated large wallets.
Where Technical Defense Lines Stand
Price charts now show buyers defending key levels. The 50-week moving average at $75,561.73 and the Murrey Math pivot at $75,000 serve as the primary technical defense lines currently tested by buyers.
Market momentum remains weighed down by selling pressure. The daily RSI sits at 38.78, lingering below the neutral 50 threshold. Meanwhile, the middle Bollinger Band (20-day SMA) stands at $79,459.22, with the lower band at $74,660.74.
Any near-term price recovery also faces a wall of sell orders overhead. A 3-day liquidation heatmap from CoinGlass shows a cluster of overhead resistance in the $76,500 to $77,500 range.
For market participants, the divergence between ETF outflows and the dormant whale’s buying spree makes the $75,000 to $76,000 band a crucial battleground deciding the market’s next direction.
Reported by crypto.news.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
