What Is Keeping Bitcoin (BTC) Near USD 77,000 as Crypto Sentiment Turns Fearful?

Vinay Lochav

05 November 2026 12:49 AM AEDT

What Is Keeping Bitcoin (BTC) Near USD 77,000 as Crypto Sentiment Turns Fearful?

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Key Highlights

Bitcoin (BTC) dipped to about USD 76,300 and traded near USD 76,900 on November 3, 2026, roughly 40% below its record of USD 128,198 set on October 6, 2025, simple arithmetic on two prices.
Spot Bitcoin funds lost USD 399 million on November 2, their second straight day of outflows, with BlackRock's iShares Bitcoin Trust ETF (NASDAQ:IBIT) shedding USD 405 million, its largest daily outflow since June.
One major sentiment index fell to 34 out of 100, which is fear, while another tracker showed 37. A near-term Options Volatility gauge jumped from about 43.5% to about 51%.
Customers withdrew a net USD 4.72 billion from Binance after the October 29 hack, and liquidations rose 171% to USD 382.6 million, according to published coverage.

Where Bitcoin Stands

Bitcoin (BTC) has been range-bound around the USD 77,000 to USD 78,000 zone, slipping to about USD 76,300 during the European morning on November 3, 2026. Another daily snapshot put it at USD 77,842, so levels depend on the timestamp. The gap to the October 6, 2025 record of USD 128,198 is about 40%, a drawdown that shows how far the market has retreated. The Nasdaq Composite fell 1.07% on November 2, and the Nasdaq-100 sat more than 10% below its October 6 record, so appetite for risk was weak across assets. Drawdown figures over one and five years were not verified for this article. Solana (SOL) traded near USD 94 and was down nearly 9% over seven days, according to one daily report.

What Is Weighing on Sentiment

Three forces are overlapping. The first is ETF flows, with spot funds losing USD 399 million on Monday, a second straight day of outflows. The second is the Binance hack, the largest crypto theft on record at about USD 6.3 billion, which has shaken confidence and triggered heavy withdrawals. The third is macro. The Federal Reserve funds range sits at 3.75% to 4.00%, markets priced a December hike at roughly 76% to 78%, and the 10-year Treasury Yield was near 4.95%, all according to published market data. Higher yields raise the Opportunity cost of holding a non-yielding asset such as Bitcoin (BTC), and midterm election uncertainty lifted options volatility. Coinbase Global (NASDAQ:COIN) shares were reported higher on November 3, but that move was not checked against an exchange record.

What to Watch and the Risks

The October jobs report is due on Friday, November 6, and a strong print could keep rate-hike odds high. Sentiment readings of 34 to 37 signal fear but not capitulation, and a month earlier one tracker showed a much higher reading, per published coverage. Risks include further ETF outflows, forced liquidations, more exchange hacks and policy shocks. Any talk of a fresh bull run for Bitcoin (BTC) needs caveats, because past rallies do not guarantee future ones and a 40% drawdown can deepen. Ethereum (ETH) traded near USD 2,288 amid heavy weekly ETF outflows, per a daily report. Liquidations of USD 382.6 million show leveraged traders being pushed out, which can add to downside moves.

Where Things Stand

Bitcoin (BTC) is stuck near USD 77,000 because ETF outflows, the Binance hack and rising rate-hike odds have outweighed buyers, with sentiment at 34 to 37, in fear. The price is about 40% below the October 2025 record, and volatility measures suggest traders expect larger swings around the election and the jobs report. A rebound needs flows to turn and yields to ease, and neither is assured. Watch ETF flow data, the Fed path and the November 6 jobs report. Nothing here is Investment advice.

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