Key Insights:
- The latest Bitcoin news showed Trump Media moving 4,259 BTC to Crypto.com.
- BTC price rebounded above $80,000 after Democrats won both chambers of Congress.
- US spot Bitcoin ETFs logged $514.2M in outflows during the first two sessions of November.
Trump Media moved about 4,259 Bitcoin (BTC) to Crypto.com on Nov. 5, according to Lookonchain. The coins were worth around $343.67 million at the time.
Bitcoin News: Trump Media Transfer Raised Selloff Fears
Lookonchain asked on X whether Trump Media was dumping BTC. The coins were moved in two transfers of 2,140 BTC and 2,119 BTC.
Arkham labeled both wallets as holding collateral for the company’s 2028 convertible notes. The amount nearly matched the 4,260.73 BTC pledged in its June 30 SEC filing.
Bitbase reported that noteholders could ask for cash repayment on Nov. 30, 2026. The report said that could reach $1 Billion. Bitcoin news reports noted that no sale was confirmed at press time. A transfer to an exchange did not prove a sale.
Trump Media had earlier described similar moves as custody or trading management. The company reported about 14,139 BTC as of July 31, including pledged coins.
Bitcoin Price Reclaimed $80,000 Despite ETF Outflows
BTC price fell to about $75,600 on election night. It then recovered quickly.
Bitcoin price first crossed $80,000 at 15:05 UTC on Nov. 4, according to CryptoTicker. Bitcoin Magazine Pro data showed BTC near $80,099 at 3:12 p.m. ET.
That left BTC about 36% below its record high near $126,080. Shorts worth about $309 Million were also liquidated, CoinGabbar reported.
Analytics Insight said desks marked $79,000 as support. They marked $82,000 as the breakout level. For more on the recent move, read our latest Bitcoin price analysis.
ETF demand stayed weak in the meantime. US spot Bitcoin ETFs lost $115.6 Million on Nov. 3, according to SoSoValue data. It marked a third straight session of outflows. Nov. 2 outflows reached $398.6 Million, per Farside Investors data.
BlackRock’s IBIT led the exits with $95 Million. Grayscale’s Bitcoin Mini Trust lost $52.6 Million. Bitwise’s BITB and Fidelity’s FBTC drew small inflows. November outflows stood at $514.2 Million after two sessions. The total net assets of the funds were $99.16 Billion. Track the latest spot Bitcoin ETF flows for daily updates.
Bitcoin News: Midterm Results Defied Past Trends
Democrats won both chambers of Congress in the Nov. 3 midterms, CoinDesk reported. Bitcoin had fallen after the last four midterm votes, CryptoPotato noted.
The outlet said that pattern did not prove the elections caused those drops. This time, BTC rose 5.7% in 24 hours, per CoinGecko data.
CoinShares head of research James Butterfill said markets had largely priced in the sweep. Analysts called the move a technical bounce, not a reversal.
Democratic majorities could also complicate crypto legislation, according to CoinDesk. Analytics Insight said the result clouded the path for the CLARITY Act. See how the US midterm elections could affect crypto.
Traders watched whether ETF buyers would return. The Trump Media wallets also stayed in focus. BTC traded near $80,500 at press time. The next bitcoin news could come from the Nov. 30 note deadline.
