Bitcoin holds below $76K as ZEC and TRX buck altcoin selloff

What happened

Bitcoin was trading just under $76,000 on Sunday, according to crypto.news, which put the price near $75,882, down about 2.69% over seven days. CryptoPotato reported the asset was hours from a fifth consecutive weekly close in the red and had struggled to recover after dipping below $75,000 on Friday for the first time since an August breakout.

The week was volatile. CryptoPotato reported that Bitcoin fell from around $81,000 to $76,000 within roughly an hour after an October 29 Binance breach that it described as the largest hack of a crypto company by dollar losses, at $6.3 billion. A rebound stalled near $79,000, and the asset was around $78,000 entering U.S. midterm election day before sliding to a then-seven-week low of $75,800. A Wednesday rally alongside Wall Street lifted BTC to about $81,000, but the gains were erased a day later.

Losses were steeper among altcoins. Crypto.news reported NEAR at about $3.71 after a 15.21% weekly drop, Bitcoin Cash down 12.8% near $246.26, Hyperliquid's HYPE down 11.96% at $77.35 and Stellar's XLM down 10.62% near $0.151. CryptoPotato listed similar declines and added that Ethena's ENA fell more than 18%, Ondo about 12% and PUMP more than 14%.

A small group of assets rose. Crypto.news reported TRON's TRX up 3.09% at about $0.320 and Zcash up 2.78% at almost $1,273, though ZEC's latest daily move was negative. CryptoPotato said ZEC gained about 2% on the week but was capped at $1,330 on Saturday. Monero slipped 0.55% to near $600.

Why it matters

The $76,000 level has become a reference point for traders watching whether Bitcoin can regain momentum. Analyst Michaël van de Poppe, cited by crypto.news, said Bitcoin had shown little weekend movement and would need to clear $76,000 to build upward momentum, adding that it had "swept the lows" and was likely to break higher. The move had not occurred when he posted.

Fund flows are adding pressure. Crypto.news, citing Farside Investors, reported $1.28 billion in net withdrawals from U.S. spot Bitcoin ETFs between November 2 and November 6, including $411.9 million on Friday alone, with BlackRock's IBIT accounting for $403 million of that. Ethereum funds lost $365.2 million over the week, bringing combined BTC and ETH ETF outflows to roughly $1.65 billion. CryptoPotato put the total crypto market cap at $2.550 trillion, down about $100 billion in a week.

What the data shows

Crypto.news reported Bitcoin's market capitalization at almost $1.526 trillion and 24-hour volume near $10.56 billion; CryptoPotato put the market cap at $1.520 trillion and Bitcoin dominance at about 60%. Among other large tokens, crypto.news reported XRP near $1.17, down 7.23%; Solana at $89.63, down 6.04%; Chainlink at $10.78, down 8.21%; Cardano at $0.181, down 6.85%; Dogecoin near $0.0713, down 6.06%; Ethereum near $2,239, down 1.35%; and BNB around $698, down 2.15%. Uniswap lost 2.95% to $7.03.

Background

Bitcoin entered November under pressure after the Binance security breach, which crypto.news said involved an estimated $6.3 billion in stolen digital assets and coincided with a drop below $77,000. Recovery attempts toward $78,000 were interrupted by renewed selling, and the U.S. midterm elections added volatility, with Bitcoin briefly climbing above $81,000 on Wednesday before reversing. A November 7 technical assessment cited by crypto.news placed the 50-week moving average near $75,562, close to the $75,000 support area, and identified liquidation concentrations around $76,500, $77,500 with more positions below $75,000.

What to watch

Traders will watch whether Bitcoin can close back above $76,000 and hold it, the threshold van de Poppe identified. The area around $75,000 and the 50-week moving average near $75,562 remain the nearby support zone, with liquidation clusters reported above and below current prices. ETF flow data for the coming week will show whether institutional withdrawals persist after the $1.28 billion pulled from Bitcoin funds.

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