Bitcoin Holds $75K as ETF Outflows, Rate Fears, and Russia Rules Converge

Bitcoin is clinging to critical support this Saturday morning after a punishing week that combined massive ETF outflows, a hawkish macro shock, and a fresh wave of regulatory developments across three continents. The world's largest cryptocurrency was trading near $75,969 on November 7, stabilizing after touching a multi-month low of $74,762 on Friday, its weakest level since late August.

The most immediate source of selling pressure has been the exodus from U.S. spot Bitcoin ETFs. According to Blockchain Reporter, spot BTC ETFs shed $842.1M across just two sessions through November 6, with Bitcoin adding a slim 0.43% in 24 hours against that headwind. Analysts note that reversing the two-session outflow trend would require an equivalent amount of net inflows, a tall order given current sentiment.

Jobs Data Sends Fed Hike Odds Surging

The macro picture darkened further on Friday after the October U.S. jobs report showed 165,000 nonfarm payrolls added against an expectation of just 65,000. The blowout figure pushed December Federal Reserve rate-hike odds from 66.9% to 76.8%, lifting Treasury yields and the dollar while Bitcoin failed to join the equity rebound that chip stocks managed to stage. Monero was one of the week's rare bright spots, gaining 5.4% to trade near $621, even as the broader market bled.

On the regulatory front, Russia's Bank of Russia formally set November 17 as the effective date for rules permitting retail investors to purchase Bitcoin, Ether, and USDT through regulated intermediaries. Access will be capped at 300,000 rubles per year per intermediary, roughly $3,700, and buyers must pass mandatory risk testing before transacting. Crypto payments inside Russia remain banned under the framework, keeping the new policy narrowly focused on investment exposure rather than everyday commerce.

Total crypto market capitalization sits near $2.64 trillion with Bitcoin dominance at 57.7%, while the Fear and Greed Index registers at 41, squarely in Fear territory. Traders are watching the $75,000 weekly pivot and the 50-week moving average near $75,562 as the nearest lines of defense heading into the weekend.