Bitcoin Falls Below $70, 000 on Nov. 13 as Crypto Liquidations Top $1.2 Billion
Bitcoin fell more than 6% and briefly neared $68, 500 on Binance on Friday, November 13, 2026. Leveraged traders were forced out of positions as spot Bitcoin funds recorded a run of net withdrawals.
- CoinGlass reported about $1.23 billion in crypto positions liquidated over 24 hours.
- Bitcoin longs accounted for roughly $653.5 million of the liquidations.
- US spot Bitcoin ETFs saw about $1.44 billion in net outflows over five consecutive trading sessions.
- The reported $68, 500-$69, 000 support range is worth watching, but it is no guaranteed floor.
Bitcoin traded near $68, 750 early Friday after falling below $70, 000 for the first time since August, according to market data reported by crypto.news. Several pressures were in play, including a stronger US dollar, higher Treasury yields, ETF withdrawals and broader market uncertainty. The available figures do not show how much each factor contributed.
Leveraged longs took the brunt
CoinGlass recorded approximately $1.23 billion in leveraged crypto positions liquidated over the 24 hours covered by its data. More than 151, 000 traders were affected. That figure represents the reported value of positions forcibly closed, not traders' combined losses or the total amount of crypto sold across the market.
Bitcoin accounted for roughly $677.5 million of the liquidations. About $653.5 million came from long positions, or bets on rising prices, compared with $24.1 million in shorts, which bet on a decline. Longs made up more than 96% of reported Bitcoin liquidations. CoinGlass listed the largest single liquidation as a BTC-USD position worth $31.09 million on Hyperliquid.
Exchanges liquidate leveraged positions when losses leave too little collateral to support them. The exchange closes the trade automatically, often selling into a falling market. When many traders borrow to increase their exposure and face liquidation at similar prices, those forced closures can deepen a move. They can amplify a decline, but they do not explain what set it off.
Dollar strength and ETF outflows add pressure
The US Dollar Index rose above 103 on Thursday, November 12, reaching its highest level in about 19 months, according to market figures reported by crypto.news. Treasury yields also climbed after inflation figures came in stronger than expected. Markets began pricing in the possibility of further monetary tightening, including a potential Federal Reserve rate increase in December.
A stronger dollar can reduce the purchasing power of buyers using other currencies. Higher yields may also make interest-bearing investments more attractive than Bitcoin, which pays no interest. Both are potential headwinds, but the figures do not prove either caused this sell-off.
US spot Bitcoin ETFs recorded $299.8 million in net withdrawals on November 11, according to Farside Investors. BlackRock’s IBIT accounted for $269.7 million. Net withdrawals reached about $1.44 billion over five consecutive trading sessions.
ETF flows show whether more money entered or left these funds during a given period. Sustained outflows can point to weaker demand for fund exposure to spot Bitcoin, but they do not explain why investors withdrew or predict what prices will do next.
Bitcoin had also fallen roughly 45% from its October 2025 record of $126, 198, according to the reported market data. That longer decline adds context, but it does not show where the price will bottom.
Geopolitical claims remain unconfirmed
Geopolitical concerns also added to market uncertainty. Iran’s Islamic Revolutionary Guard Corps claimed it attacked a US early-warning radar installation in Bahrain, saying the operation followed an alleged air attack on a telecommunications tower in Sirik, southern Iran. US and Bahraini authorities had not immediately confirmed the attacks or damage. West Texas Intermediate crude traded near $88 a barrel during the reported developments.
Separately, MSCI confirmed equity-index changes that will take effect after November 30, 2026. The changes include removing Strategy, the publicly traded company known for its large Bitcoin holdings. Funds tracking the affected indexes may need to sell Strategy shares. The index change does not directly require Strategy to sell its Bitcoin.
Both developments coincided with the market decline. The available information does not show that either accounted for a specific share of the drop.
Bullish conviction, bearish momentum
Analyst Doctor Profit remained bullish in a November 13 post on X:
“Ignore the noise. I remain insanely bullish on Bitcoin, ”
He said he held spot Bitcoin positions entered around $60, 000 and leveraged long positions from $80, 000. That describes his position, but it does not show that Bitcoin has found a bottom. Leverage can magnify gains, but it also raises the risk of liquidation if prices move against a trader.
Crypto.news reported a daily-chart Chande Momentum Oscillator reading of -88.53. The indicator measures price momentum, and a deeply negative reading can reflect intense selling. An “oversold” market does not have to rebound. Momentum can stay weak, and the reported figure is a signal, not a forecast.
The price levels cited in the market analysis put immediate support at $68, 500-$69, 000. A sustained break below that range could bring $65, 000 into view. If prices recover, $70, 000 is the first threshold, followed by resistance around $71, 000-$71, 500, then $72, 727 and $74, 811. Traders may watch these levels, but none is a guaranteed floor or ceiling.
Bitcoin price drop: Key questions
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How much was liquidated?
CoinGlass reported about $1.23 billion in crypto positions forcibly closed over 24 hours, including roughly $677.5 million in Bitcoin positions. The total measures closed positions, not traders' combined losses.
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Were Bitcoin liquidations mostly longs?
Yes. About $653.5 million of the reported Bitcoin liquidations were long positions, compared with $24.1 million in shorts.
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Will Bitcoin hold $68, 500-$69, 000?
That range was identified as immediate support in the reported technical analysis. A sustained break could put $65, 000 in focus, but neither level is certain.
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Are Bitcoin ETF investors still withdrawing money?
Farside Investors reported $299.8 million in net withdrawals on November 11 and about $1.44 billion over five consecutive trading sessions. Later flow figures will show whether withdrawals continued or eased.
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Does an oversold reading mean Bitcoin must bounce?
No. The reported oscillator reading reflects strong negative momentum. It does not predict a reversal or guarantee that support will hold.
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Does Strategy’s MSCI removal mean it must sell Bitcoin?
No. Index-tracking funds may sell Strategy shares, but the index change does not directly require the company to sell its Bitcoin.
For now, watch Bitcoin’s price around the cited support range, upcoming ETF-flow figures and market reactions to inflation and interest-rate expectations. None offers a shortcut around risk, especially for traders using leverage.
This content is for educational purposes only and is not investment advice.
