The Morning Stack

Bitcoin is at $77,918, up 1.8% on the day, after trading between $75,736 and $78,164. Fear & Greed moved up from 26 to 34, which is still "Fear". The network runs at about 1,032 EH/s and fees are low at 1 to 2 sat/vB.

• US midterms: Bitcoin dipped to about $75.7K as results came in, then recovered to around $78K by morning.
• ETF outflows continue: US spot bitcoin ETFs saw another $115.6M leave on Tuesday. That's three outflow days in a row and $1.16B since 30 Oct (Farside).
• Moscow Exchange: it plans to start trading bitcoin, ether and USDT on 1 December, despite being under US sanctions since June 2024. Ordinary Russian investors must pass a test and face a yearly cap.
• Block Inc: it reached an agreement in principle with the US Department of Justice over its anti-money-laundering controls, with an expected net payment of about $764M (still subject to a final agreement and court approval, per its 3 Nov filing). Its bitcoin gross profit halved to $52M in the quarter.

$1.16B has left US spot bitcoin ETFs in three days, while the price bounced anyway.

Noise. A 3% wobble on election night that had largely recovered by breakfast is normal for bitcoin.

When fees are this low, it's cheaper to combine small amounts in your wallet (known as UTXOs) so they cost less to spend later. Bear in mind that combining them links them together on-chain, which can reduce your privacy.