On Nov. 5, Bitcoin spot exchange-traded funds (ETFs) swung from $74.6 million in net inflows on Nov. 4 to $430.2 million in net outflows, according to Farside Investors. The shift followed a sharp market selloff, with the S&P 500 dropping 4.4%, the Nasdaq falling 5.5%, and Bitcoin falling below $76,000 after briefly exceeding $81,000 during the post-election rally.

Peter Schiff, chief economist at Euro Pacific Asset Management and a longtime Bitcoin critic, argued on Nov. 5 that the cryptocurrency faces greater risks than artificial intelligence, stating Bitcoin has no intrinsic value while AI does. Schiff described the Democratic midterm sweep as the final catalyst for Bitcoin's decline.

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