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The Morning Stack
· Prices as of 07:00 UK time.
Where things stand
Bitcoin is at $80,574, up about 3.4% on the day, after trading between $77,891 and $81,196. Fear & Greed moved from 34 ("Fear") to 50 ("Neutral"). The network runs at about 1,026 EH/s and fees are low at 1 to 2 sat/vB.
What happened overnight
- ETF flows flipped: US spot bitcoin ETFs took in $74.6M on Wednesday after three outflow days that removed $1.16B. BlackRock's IBIT still saw $201.2M leave, while Fidelity's FBTC took in $236.7M (Farside).
- Price reclaim: bitcoin held above $80,000 into the UK morning after the midterm-night dip toward $76,000 the day before.
- Trump Media wallets: about 4,259 BTC (roughly $342–344M) moved to a large exchange from addresses tied to convertible-note collateral. A move is not the same as a confirmed sale (CoinDesk, BeInCrypto).
The number that matters
$74.6M came back into US spot bitcoin ETFs on 4 Nov, after $1.16B left over the prior three sessions.
Crazy or noise?
Noise. A few percent reclaim after an election-night wobble, with a modest ETF inflow, is not a shock by bitcoin standards.
One thing to learn today
ETF "flows" are the net of every US spot bitcoin fund that day. One big fund can be redeeming while others are creating shares, so the headline total and a single ticker can tell different stories.
For education only. Not financial advice. Bitcoin is a high-risk investment and its price can fall as well as rise.
Sources: CoinGecko, Farside, mempool.space, alternative.me, CoinDesk, BeInCrypto.
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Why bitcoin stops at 21 million while the pound keeps getting stretched, and who stops anyone changing the rules. 8 min 41 s. Education only.
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Bitcoin right now
Source: Alternative.me
Full chart, Fear & Greed and liquidationsState of the market
Bitcoin is trading around $77,800 (about £58,100), down about 2.9% on the week (CoinGecko, 1 Nov 22:03 GMT) and about 7.9% on the month. It touched about $81,300 on Thursday before dropping below $78,000 on Friday, as...
Read the weekly market overviewThe timechain right now
Supply: ... of 21,000,000
Fees now (sat/vB)
Pounds to sats
Live data from mempool.space. The heart beats each time a new block is found. Halving date is an estimate at 10 minutes per block.
Top posts on X
Chamath says quantum will crack Bitcoin and send it to zero.
Glassnode measured what is actually exposed right now. 6.04M BTC sit behind a public key that is already visible on-chain. The other 69.8% of supply shows nothing.
Of that 6.04M, 4.12M is exposed through address reuse and custody habits, and 1.63M of it is on exchanges. Only 1.92M is exposed by old script types by design.
The reuse part goes away when coins move to a fresh address. New receive address every time.
chamath says AI drains satoshi's wallet and bitcoin goes to zero.
it's not one wallet. it's ~22,000 block rewards of 50 btc from 2009-10, each on its own key. and sha-256 isn't the lock on them. the elliptic curve is, one key at a time. #Bitcoin #Quantum
POSTCZ says it "does look like a hack" after about $2.5B left Binance hot wallets tonight, and Tether and Circle have frozen
POSTJason Calacanis says a brutal year for Bitcoin is just getting started.
counted 761,000 transactions a day on the chain last week. A year ago it was 463,000. That's up 65%, and fees are still 1 sat/vB.
POSTBitcoin slid 5.5% from $84.8K last week and the timeline went straight to bear market.
Miners did the opposite. Difficulty rose 5.92% on 16 Oct and the next retarget, about two days out, is tracking another 6.4%.
POSTBitcoin is on course for a second red October in a row. The last time that happened was 2011 and 2012.
It's down 3% this month with three days left and needs a close above $83,580 to flip green.
POSTKeystone's store breach leaked buyers' names, contact details and home addresses, some from orders over two years old. N
The risk is a knock at the door, not a hack. CertiK logged 52 wrench attacks in H1 2026, up 33%. #Bitcoin #SelfCustody
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