Bitcoin Slides Under $77K as US Midterms Loom

Bitcoin dipped below $77,000 just ahead of the US congressional elections on November 3. The coin shed roughly 1.7 % in a day and briefly touched $76,300 after earlier gains tied to Binance outflows were wiped out.

The sell-off actually started in traditional markets. US semiconductor stocks plunged 12 % over three days, Nasdaq 100 entered correction territory, and South Korea’s Kospi dropped more than 3 %. Crypto simply followed the broader risk-off mood.

Institutional flows added to the pressure. Bitcoin spot ETFs saw $515 million leave in October and another $398 million on November 2. Ethereum funds lost $1.61 billion last month plus $140 million on Monday.

The Fear & Greed index slid from 37 to 26, landing in the fear zone and signalling rising investor caution.

Based on information from cryptonews.net