Bitcoin Drops Below $70,000 for the First Time Since August and Tests $67,500 as Liquidations Top $1.2 Billion
Bitcoin slid about 9% in two days to a three-month low as a rising dollar, Fed hike bets and a Strategy index removal hit leveraged traders, and US spot ETFs lost nearly $1.5 billion in a week.
Friday, November 13, 2026/2 min read
Bitcoin lost the $70,000 line overnight and kept going. By early Friday it had touched roughly $67,500, its lowest level in nearly three months, before bouncing back toward $68,000 to $69,000, according to Bitcoin.com News. That is a fall of nearly 9 percent from just under $74,000 on Wednesday, and more than 13 percent for November so far.
The move extends the slide we described when bitcoin broke below $72,000 on Thursday. What is new is the speed: leveraged traders were flushed out within hours, and US spot bitcoin funds are now seeing steady withdrawals.
How low did bitcoin fall, and how much was liquidated?
Crypto.news reported bitcoin trading near $68,750 on Friday after a low of about $68,500 on Binance, its first drop below $70,000 since August and about 45 percent under its October 2025 record of $126,198. Ether slipped below $2,000 and, according to Bitcoin.com News, touched $1,910, with XRP briefly under $1.
Estimates of forced selling varied by tracker. Crypto.news cited about $1.23 billion in liquidated positions over 24 hours, while Bitcoin.com News, using Coinglass data, put the figure at $1.62 billion with nearly 90 percent of it from traders betting on rising prices. Bitcoin longs alone accounted for more than $900 million in that count. One analyst quoted by Bitcoin.com described a self-reinforcing loop in which margin calls force more selling.
Why is bitcoin falling today?
Several pressures landed together. The US dollar index rose above 103, near a 19-month high, and traders now see a rate hike at the Federal Reserve's meeting next month as likely, crypto.news said, after hotter-than-expected inflation data. Technology shares were hit after Nvidia chief executive Jensen Huang resigned, and the index provider MSCI plans to remove Strategy, the corporate bitcoin buyer, from its indexes after 30 November, which could trigger selling of the company's shares by passive funds.
Geopolitics added a nervous note. Crypto.news said Iran's Revolutionary Guard Corps had claimed an attack on a US early-warning radar in Bahrain, which US and Bahraini authorities had not confirmed.
Are bitcoin ETFs seeing outflows?
Yes, and steadily. US spot bitcoin funds took out $299.8 million on Wednesday 11 November, with BlackRock's iShares fund accounting for $269.7 million, and about $1.44 billion over five consecutive sessions, crypto.news reported. Coinpaper, citing Farside Investors, counted about $1.49 billion of withdrawals between 5 and 12 November, with a preliminary $47.7 million on Thursday. It noted that the expected Strategy selling concerns the company's shares, not forced sales of its bitcoin.
What comes next for bitcoin?
The next catalysts are not crypto-specific. The Fed's 9 December decision is the big one, with markets pricing a quarter-point rise as the main case and a small chance of a half-point move, investingLive reported. Until the dollar and yields stop rising, the $68,000 area is the level traders will be watching.
Published in The Outspoken Digest
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