Why is Bitcoin price up today, November 5?
Photo: crypto.news
Bitcoin price climbed above $80,000 on November 5, recovering from a seven-week low as fresh spot ETF inflows, rising U.S. stocks and heavy short liquidations supported the cryptocurrency's rebound. Bitcoin price has recovered above $80,000 after falling near $75,600 during the November 3 U.S. midterm elections. U.S. spot Bitcoin ETFs recorded $74.6 million in net inflows on November 4, reversing three consecutive sessions of withdrawals. Fidelity's FBTC attracted $236.7 million, while BlackRock's IBIT lost $201.2 million, showing that institutional flows remain mixed. A short squeeze accelerated the recovery, with almost $378 million in bearish crypto positions liquidated within one hour.
Also reported by Coinpedia, CaptainAltcoin, AMBCrypto.
Source: crypto.news
