Bitcoin rebounds above $80,000 as crypto market recovers from sell-off
Bitcoin rebounds above $80,000 on Thursday, recovering from a sharp sell-off that had pushed the largest cryptocurrency to its lowest price since September. Ethereum, Solana, XRP and BNB also posted gains as the broader market bounced back from several days of heavy selling, according to Proactive financial news.
The recovery matters because it unfolded against a backdrop of continued withdrawals from U.S.-listed cryptocurrency exchange-traded funds, pointing to a disconnect between improving spot prices and weaker institutional fund flows.
Bitcoin rebounds above $80,000 after steep drop
Bitcoin was trading around $80,518, up roughly 4.7% over 24 hours, according to Proactive financial news. Separately, 24/7 Wall St. put the price at $80,360, a gain of 3.7% over the same period.
The bounce followed a steep overnight drop. At 03:00 UTC the price bottomed at $75,601, the weakest level since September 16 and under the October 30 trough of $76,141, 24/7 Wall St. reported. By 07:00 UTC it had climbed back above $78,000 and kept rising, later surging to $81,131 during the 14:00 and 15:00 UTC hours.
Despite the rebound, Bitcoin still trades roughly 36% under the record peak of $126,080 set on October 6, 2025, according to 24/7 Wall St. It is down 6% over the past 30 days and 8% this year, though it has gained 25.4% over the past 90 days and sits above its 200-day average of $73,163.
Altcoins join the crypto market recovery
Ethereum gained almost 7% to $2,420, according to Proactive financial news, while 24/7 Wall St. reported a 6% rise to $2,433, putting it above its 20-day average of $2,351. BNB rose around 3.6% to $718, XRP added nearly 4% to $1.30 and Solana climbed more than 4% to $95.75, Proactive financial news reported.
Dogecoin was firmer at around $0.077 and Chainlink gained more than 5%, while Zcash rose more than 7% and several smaller altcoins recorded double-digit gains, according to Proactive financial news. 24/7 Wall St. noted that all major cryptocurrencies bounced simultaneously, suggesting the recovery may not be specific to Bitcoin.
Solana lagged the other large tokens, rising 3.3% to $97, and remains down 19.7% over the past 30 days, with the price sitting under its 20-day average of $101 as well as its 50-day average of $109, 24/7 Wall St. reported. Ethereum has declined 10.1% over the past 30 days, leaving it more ground to regain.
ETF outflows persist despite rebound
The recovery came even as U.S. spot Bitcoin ETFs saw net withdrawals of about $116 million on November 3, and Ethereum products shed a further $85 million, according to Proactive financial news. 24/7 Wall St. put the Bitcoin ETF figure at $115.6 million, leaving the funds with $99.2 billion in total assets.
Combined crypto ETF withdrawals were close to $208 million for the session, and Bitcoin ETFs have suffered around $1.16 billion in outflows across three sessions, Proactive financial news reported. According to 24/7 Wall St., ETF flows have yet to show a positive trend, and weak demand from Wall Street preceded the price drop.
Trading data points to forced buying
With no specific headline explaining either the drop or the recovery, traders turned to trading data for answers, 24/7 Wall St. reported. The decline unfolded during the 02:00 UTC hour, with the trough arriving an hour later as volume hit its peak for the period until mid-afternoon, a pattern consistent with selling pressure intensifying during thin overnight trading.
The initial recovery was modest: the 07:00 UTC hourly close of $78,019 came on roughly one-sixth of the volume seen during the low hour, a pattern that generally indicates sellers stepping back while buyers remain cautious, according to 24/7 Wall St. The later surge to $81,131 coincided with the day's highest trading volume at 15:00 UTC, and such rapid increases often stem from liquidations, the outlet reported.
Traders who short Bitcoin can face automatic buybacks by exchanges if prices rise enough, and that forced buying can add upward momentum and trigger further buying from other short-sellers. Exchanges have not yet reported a confirmed total for liquidations during the session, and 24/7 Wall St. noted that if forced buying accounts for much of the advance, fresh demand, especially via ETFs, would be required to keep prices rising.
Key levels and market sentiment
At $80,360, Bitcoin moved back above its 20-day average of $80,317, a widely watched gauge of the near-term trend, but remains below its 50-day average of $81,909, where selling pressure has previously increased, 24/7 Wall St. reported. Proactive financial news said Bitcoin now faces an important technical test around $80,000 to $82,000, adding that holding above that band would strengthen the recovery case, while ongoing ETF withdrawals pose the clearest near-term threat to momentum.
The November 4 low was below the October 30 low, a pattern characteristic of a downtrend, though Bitcoin held above the September 15 low of $74,888, keeping September support intact, according to 24/7 Wall St. Proactive financial news said the recovery pushed sentiment out of deeply defensive territory as traders returned to higher-risk tokens after Bitcoin held above the mid-$70,000 range.
A popular crypto Fear and Greed Index, which measures market emotion from 0 for extreme fear to 100 for extreme greed, stood at 46, a cautious reading, 24/7 Wall St. reported. Earlier recoveries in August and September each ran for roughly a month, while the late-October bounce gave back all of its gains, closing at $78,231 on November 1 before prices fell again.
Conclusion
Bitcoin has bounced back above $80,000 after dipping to $75,601, its lowest level since mid-September, with Ethereum, Solana and other major tokens recovering alongside it. The rebound has so far coexisted with persistent U.S. spot ETF outflows, including roughly $1.16 billion pulled from Bitcoin funds over three sessions. The next concrete test is whether Bitcoin can hold above the $80,000 to $82,000 zone and its 50-day average near $81,909, and whether ETF flows turn positive, with continued withdrawals seen as the clearest near-term risk to momentum.
Frequently Asked Questions
How low did Bitcoin fall before rebounding above $80,000?
Bitcoin dropped to $75,601 at 03:00 UTC, its lowest price since September 16 and below the October 30 low of $76,141, according to 24/7 Wall St. It then recovered above $78,000 by 07:00 UTC and later traded around $80,360 to $80,518, up roughly 3.7% to 4.7% over 24 hours.
How much have Bitcoin ETFs lost in outflows during the sell-off?
U.S. spot Bitcoin ETFs recorded about $116 million in net outflows on November 3, while Ethereum funds lost $85 million, according to Proactive financial news. Bitcoin ETFs have suffered around $1.16 billion in outflows across three sessions. 24/7 Wall St. reported the funds held $99.2 billion in total assets.
What technical levels does Bitcoin face after the recovery?
Bitcoin reclaimed its 20-day moving average of $80,317 but remains below its 50-day average of $81,909, where selling pressure has previously increased, according to 24/7 Wall St. Proactive financial news identified $80,000 to $82,000 as an important technical test, with a sustained move above it potentially reinforcing the recovery.
Did Ethereum and Solana recover along with Bitcoin?
Yes. Ethereum gained about 6% to 7%, trading near $2,420 to $2,433 and moving above its 20-day average. Solana rose more modestly, around 3.3% to over 4%, to roughly $95.75 to $97, but remains down 19.7% over 30 days and below its 20-day and 50-day averages, according to the reports.
What role did liquidations play in Bitcoin's bounce?
24/7 Wall St. reported that the sharpest part of the recovery, a surge to $81,131 during the 14:00 and 15:00 UTC hours, coincided with the day's highest volume, a pattern often stemming from liquidations. Forced buybacks of short positions can fuel upward momentum, though exchanges had not confirmed a liquidation total for the session.