Bitcoin Rebounds Nearly 6% as $82,000 Resistance Looms
Bitcoin rebounded nearly 6% from post-election lows near $75,000, reaching an intraday high of $80,892 on November 5 before trading around $79,600. Short liquidations of nearly $378 million in one hour and a recovery in US stocks added to buying pressure. A weaker US dollar and lower Treasury yields also supported risk appetite, while Ethereum, XRP, Solana and BNB advanced.
US spot Bitcoin ETFs recorded $74.6 million in net inflows on November 4, ending three consecutive sessions of outflows. Fidelity’s FBTC took in $236.7 million, while BlackRock’s IBIT saw $201.2 million in outflows, highlighting mixed institutional demand.
Bitcoin now faces resistance at $81,300–$82,000, near its 30-day moving average. A sustained break could bring resistance around $84,240–$84,800 into focus. If Bitcoin loses ground, traders may watch support near $80,274, $78,000, $76,308 and $75,000, with the 200-day moving average near $73,188 as a further level. The rebound has improved short-term sentiment, but mixed ETF flows and macroeconomic risks leave the outlook uncertain; market indicators have yet to confirm a lasting bottom.
Neutral
The rebound, short liquidations and renewed ETF inflows offer short-term support for BTC, while the weaker dollar and lower Treasury yields have helped risk appetite. However, the ETF picture is mixed: Fidelity’s inflow was offset in part by outflows from BlackRock’s fund. BTC also faces a significant $81,300–$82,000 resistance zone; failure to break through could prompt profit-taking and a retest of lower support levels. The earlier caution that indicators do not yet confirm a durable bottom remains relevant. In the near term, these competing signals make a sustained rally uncertain. Over the longer term, macroeconomic conditions and continued institutional flows will be important in determining whether BTC can establish a stable base or resume its decline.