Bitcoin slips below $77,000 as fund outflows reach $1.04 billion in two sessions

Bitcoin traded below $77,000 on Tuesday morning after U.S. spot bitcoin exchange-traded products recorded an estimated $398.6 million of net outflows for the November 2 session, extending a sharp reversal in fund demand into a second trading day.

CoinGecko showed bitcoin at about $76,988 when Coinburn checked on November 3, with a 24-hour range of roughly $76,303 to $78,120. That is a live, aggregated spot-market reading rather than an executable price on any single exchange, and it will change continuously.

Farside Investors’ automatically updated table put Monday’s group outflow at $398.6 million. Combined with the tracker’s $643.2 million outflow for Friday, October 30, the products lost an estimated $1.0418 billion across the two completed U.S. sessions, according to a Coinburn calculation. The overlap in timing does not establish that fund redemptions caused bitcoin’s overnight decline.

BlackRock accounted for the net exit

Monday’s flow was concentrated in BlackRock’s iShares Bitcoin Trust, or IBIT. Farside estimated a $405.3 million net outflow from IBIT, partly offset by a $6.7 million inflow into Fidelity’s FBTC. Its table recorded no net movement for the other 10 products it tracks that day.

The distribution matters because the group total can hide large differences between funds. It also reverses the pattern Coinburn documented for October, when IBIT accumulated an estimated $932.1 million even as the full U.S. group lost $515.9 million. Monday belongs to a new monthly window: it is the first completed U.S. fund session of November, not a revision to October’s total.

Farside labels its figures in U.S. dollars and warns that the table is generated automatically and may contain errors. The numbers are estimates of primary-market creations and redemptions, not exchange trading volume and not direct measurements of investor profit or loss. They can also be revised after initial publication.

Exchange recovery remains part of the backdrop

A separate source of uncertainty is Binance’s continuing recovery from its late-October security incident. In a November 3 announcement published at 02:40 UTC, Binance said it would begin progressively reopening withdrawals for another list of network-and-asset combinations from 04:00 UTC. The exchange cautioned that availability would not begin simultaneously for every listed asset and that users could encounter delays during the rollout. Deposits remained open.

That announcement establishes operational progress, but not a complete return to normal service. Binance said a day earlier that a zero-knowledge proof had been generated for an October 31, 00:00 UTC reserve snapshot covering 10 named assets. It also said approximately 5% of the incident’s affected amount still consisted of less-liquid tokens it had not yet replaced. Those statements come from Binance itself; they are not an independent audit of the exchange’s full balance sheet.

Bitcoin’s price, the fund flows and Binance’s staged reopening occurred in overlapping windows, but the available records cannot isolate their effects. Crypto trades continuously across venues, while U.S. fund flow estimates summarize creation and redemption activity for a completed stock-market session. Macro positioning and unrelated trading can move the market at the same time.

For the November 3 open, the defensible conclusion is narrower: bitcoin was trading below $77,000, U.S. spot products had posted about $1.04 billion of combined net outflows over two sessions, and Binance’s withdrawal restoration was still incomplete. What the evidence does not show is a single trigger or a settled direction for the next session.