Bitcoin Crashes Below $70,000 as Crypto Sell-Off Deepens

Bitcoin fell below $70,000 on Friday, 13 November, for the first time since August, as a sharp sell-off swept through cryptocurrency markets and wiped out more than $1.3 billion in leveraged bets within a single day.

The world’s largest cryptocurrency dropped as much as 4.4 percent to $68,297 during Friday trading, its lowest level since 19 August, according to Bloomberg. It later traded near $68,800, down more than 6 percent in 24 hours.

FAKTA

• Bitcoin fell below $70,000 on Friday, 13 November 2026 — the first time since 19 August.
• Lowest point of the day: around $68,300; down more than 6 percent in 24 hours.
• More than $1.3 billion in crypto futures positions liquidated in 24 hours, about $677 million in Bitcoin alone.
• Ether, the second-largest cryptocurrency, fell below $2,000 for the first time since August.
• Total crypto market value: about $2.34 trillion, down almost 8 percent in a day.
• Bitcoin is now about 45 percent below its record high above $126,000, set in October 2025.

Heavy selling triggers $1.3 billion in liquidations

The speed of the fall caught many traders by surprise. Bitcoin had held near $73,500 on Thursday before breaking below $70,000 in the early hours of Friday. Once the level gave way, forced selling accelerated: CoinGlass data showed more than $1.3 billion in leveraged positions closed in 24 hours, affecting over 170,000 traders, with around $622 million of it in just four hours.

Most of the wiped-out bets were long positions — traders who had borrowed money expecting prices to rise — including a single $31 million position on the Hyperliquid exchange. Analysts described the move as deleveraging rather than any sudden change in Bitcoin’s fundamentals.

Inflation and a stronger dollar weigh on crypto

Several pressures came together to push prices down. US inflation data showed consumer prices rose 0.4 percent in October, raising concern that interest rates could stay higher for longer. The US dollar climbed above 103 on its index, its strongest level in about 19 months, making riskier assets less attractive to investors.

Bitcoin exchange-traded funds saw $299.8 million withdrawn on 11 November alone. Selling in technology shares added to the gloom after Nvidia chief executive Jensen Huang stepped down, and MSCI confirmed it will remove Strategy, the largest corporate Bitcoin holder, from its indexes on 30 November.

Wider market slides as fear grips traders

Ether fell below $2,000 for the first time since August, and the total value of all cryptocurrencies dropped to about $2.34 trillion. The Crypto Fear & Greed Index fell to 20, its lowest in more than four months, putting sentiment firmly in “extreme fear”.

Traders will now watch whether Bitcoin can climb back above $70,000 or whether more leveraged positions are forced to close. The break marks the deepest point of a slide that has erased almost half of Bitcoin’s value since its October 2025 peak. Read more business news on Watan News Business.