Bitcoin stayed below $76,000 on Sunday as the market headed toward another negative weekly close. NEAR, Bitcoin Cash, Hyperliquid and Stellar each lost more than 10% over the week, while U.S. spot Bitcoin ETFs recorded $1.28 billion in withdrawals.
Bitcoin remained below $76,000 on Sunday after falling nearly 3% over the preceding seven days. Smaller cryptocurrencies took the heavier losses, with several major altcoins recording double-digit declines.
Crypto.news data for November 8 showed Bitcoin trading near $75,882, down nearly 2.69% on the week. Its market capitalization stood at almost $1.526 trillion, and 24-hour trading volume was near $10.56 billion.
Bitcoin fails to hold its recoveries
The slide followed a difficult week. Bitcoin briefly climbed above $81,000 on Wednesday as financial markets rallied around the U.S. midterm elections. However, the gain reversed, and by Friday the price had fallen below $75,000 before recovering toward $76,000.
Analyst Michaël van de Poppe said $76,000 remains the immediate level to watch. He wrote on X: "Technically, Bitcoin has swept the lows, meaning we're likely to break higher". He added that Bitcoin would need to move above $76,000 to build upward momentum.
ETF outflows add pressure
Fund flows stayed negative. U.S. spot Bitcoin ETFs recorded $1.28 billion in net withdrawals between November 2 and November 6, according to Farside Investors data.
Ethereum investment funds saw weekly net outflows of $365.2 million, bringing combined Bitcoin and Ethereum ETF withdrawals to roughly $1.65 billion.
A November 7 technical assessment placed the 50-week moving average near $75,562, close to the $75,000 support area.
Altcoins fall harder
NEAR lost 15.21% over seven days to trade around $3.71. Bitcoin Cash fell 12.8%, Hyperliquid's HYPE declined 11.96% and Stellar's XLM dropped 10.62%.
Other major tokens saw smaller losses. XRP traded near $1.17, down 7.23%, while Solana fell 6.04% to $89.63. Ethereum was down 1.35% over seven days, and BNB lost 2.15%.
TRON and Zcash were among the few major assets that traded higher on the week, gaining 3.09% and 2.78% respectively.
Source: crypto.news
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