Bitcoin Treads Water Around $77K as Risk Sentiment Stays Fragile

In crypto markets, bitcoin continues to hover uneasily around the $77,000 mark. On November 3, the largest cryptocurrency dipped toward the high‑$76,000s before rebounding to close the UTC day near $77,327, about 1% higher. Ether gained a little over 1% to finish around $2,270, while total crypto market capitalization rose roughly 1.5% over 24 hours, according to several market trackers.

That modest recovery followed a rough stretch earlier in the week. A deepening sell‑off in U.S. chipmakers pushed the Nasdaq 100 into correction territory and spilled over into Asia, dragging bitcoin below $77,000 and knocking most major altcoins lower as risk appetite deteriorated.

With U.S. midterm elections approaching and the outlook for Federal Reserve policy still murky, traders increasingly view bitcoin as part of the broader “risk asset” complex rather than a safe haven. In the near term, that leaves prices highly sensitive to swings in equities and macro headlines. At the same time, on‑chain data and positioning suggest long‑term holders remain firmly invested, reinforcing the view that underlying supply–demand dynamics stay tight even as short‑term sentiment fluctuates.