Bitcoin Rebounds Above $78,300 Following Widespread Crypto Liquidations and $75,700 Overnight Low

Bitcoin rebounded above $78,300 after dropping to an overnight low of $75,700, driven by $420 million in call option purchases as political uncertainty eased. The rebound followed a severe market sell-off where Bitcoin breached $76,000 for the first time since mid-September, triggering up to $440 million in total crypto liquidations that impacted 91,821 traders. The downturn was exacerbated by institutional pullbacks, with U.S. spot Bitcoin ETFs registering about $1.16 billion in net outflows across three consecutive sessions, including $398.6 million on November 2.