Analysis: Bitcoin Stabilizes and Rebounds as US Midterm Elections Fuel Market Caution

Odaily reports: Bitcoin has rebounded slightly after facing market pressures including a second consecutive day of net outflows from US spot Bitcoin ETFs and uncertainty surrounding the US midterm elections. On Monday, US spot Bitcoin ETFs recorded net outflows of $399 million, with BlackRock's IBIT seeing single-day net outflows of $405 million—the largest single-day outflow since June.

Additionally, since Binance resumed withdrawals on Sunday, cumulative net user withdrawals have risen to $4.72 billion, up from the previously reported $3.64 billion. In the derivatives market, 24-hour crypto futures trading volume increased 51% to $168.1 billion, while open interest declined 1.63% to $134.9 billion, indicating rising trading activity but limited new directional positioning. During the same period, total market liquidations rose 171% to $382.6 million. Options markets also show heightened expectations for short-term volatility, with near-month Bitcoin options implied volatility rising to approximately 51% and Ethereum options climbing to about 59%. (CoinDesk)