The Morning Stack

Bitcoin is at $80,574, up about 3.4% on the day, after trading between $77,891 and $81,196. Fear & Greed moved from 34 ("Fear") to 50 ("Neutral"). The network runs at about 1,026 EH/s and fees are low at 1 to 2 sat/vB.

• ETF flows flipped: US spot bitcoin ETFs took in $74.6M on Wednesday after three outflow days that removed $1.16B. BlackRock's IBIT still saw $201.2M leave, while Fidelity's FBTC took in $236.7M (Farside).
• Price reclaim: bitcoin held above $80,000 into the UK morning after the midterm-night dip toward $76,000 the day before.
• Trump Media wallets: about 4,259 BTC (roughly $342–344M) moved to a large exchange from addresses tied to convertible-note collateral. A move is not the same as a confirmed sale (CoinDesk, BeInCrypto).

$74.6M came back into US spot bitcoin ETFs on 4 Nov, after $1.16B left over the prior three sessions.

Noise. A few percent reclaim after an election-night wobble, with a modest ETF inflow, is not a shock by bitcoin standards.

ETF "flows" are the net of every US spot bitcoin fund that day. One big fund can be redeeming while others are creating shares, so the headline total and a single ticker can tell different stories.