Bitcoin Recovered to $78,485 After Falling to $75,700

On November 4, 2026, Bitcoin sharply recovered after a morning drop to $75,700, rising above $78,300. The reversal was accompanied by large options transactions, although outflows from U.S. spot ETFs and weak market demand currently limit confidence in continued growth.

Volatility increased amid investors' reactions to the results of the U.S. midterm elections. Initially, BTC fell below $76,000, but then recovered losses along with U.S. stock futures. It is not possible to attribute the movement solely to one political event: the price was simultaneously influenced by traders' positions and liquidations of leveraged trades.

Buyers Become Active in the Options Market

According to Nicholas Katravo, a representative of the Paradigm platform, on November 3, the volume of large over-the-counter Bitcoin options transactions reached $660 million in nominal value – more than double the previous day.

Market participants purchased call options for approximately $420 million and sold such contracts for $105 million. Call options allow positions to be opened with the expectation of a BTC price increase. These amounts reflect the nominal volume of contracts, not direct Bitcoin purchases or option premiums paid.

The sharp drop in BTC was accompanied by liquidations of long positions. During the reverse movement, pressure could have been intensified by the closing of short positions. However, such dynamics in themselves do not confirm a sustainable return of demand.

ETF Outflows Restrain Recovery

According to Farside Investors, over three trading sessions – October 30, November 2, and November 3 – U.S. spot Bitcoin ETF recorded a total net outflow of $1.157 billion. Of this, $115.6 million occurred on November 3.

Analysts at Wintermute consider it important for BTC to consolidate above $80,000 with the support of spot purchases and improved capital flows through ETFs. In a Bitfinex report, the next significant resistance zone is identified at $81,300, where a large volume of coins was previously accumulated.

If the recovery continues, analysts are considering the area of $81,300–82,000. If BTC fails to hold its achieved positions, attention will shift back to $77,000 and the low around $75,700. These are technical analysis scenarios, not a forecast of guaranteed price movement.