Bitcoin fell below $72,000 on November 12, 2026, hitting $71,369, its lowest level since August, as a wave of leveraged long liquidations and sustained spot ETF outflows intensified the crypto market sell-off. The decline accelerated during US trading after the leading cryptocurrency had traded around $73,500 earlier in the day.
Ethereum dropped below $2,000 to $1,999.53, Solana fell 3.58% to $80.84, XRP neared the $1 level at $1.0174, and BNB traded at $652. Meme and altcoin losses were sharper in places, with Dogecoin down 5.09% and NEAR down 8.86%.
Pressure increased after Nvidia announced that founder and CEO Jensen Huang had resigned from his position and board membership, with CFO Colette Kress named interim CEO. Nvidia shares fell about 10% premarket, and Bitcoin dropped to around $72,400. Although Nasdaq losses were limited to about 0.35% in the first half hour, Bitcoin continued lower to $71,300.
Rising US Treasury yields added to the risk-off tone. Cleveland Fed President Beth Hammack said inflationary pressures were spreading more widely and that monetary policy needed to be tightened. The two-year Treasury yield rose 7.2 basis points to 4.80%. US consumer prices rose 0.4% month-on-month in October, above the 0.3% expectation, while core inflation increased 0.3% for a third straight month. Federal Reserve Governor Christopher Waller also said further tightening was needed to return inflation to the 2% target.
Spot Bitcoin ETFs recorded a fifth consecutive session of net outflows, with $299.8 million leaving funds in the last completed session and roughly $1.44 billion withdrawn over the period. BlackRock’s IBIT saw the largest outflow at $269.7 million, Grayscale’s GBTC lost $39.1 million, while Morgan Stanley’s MSBT added $9 million. Spot Ethereum ETFs recorded $144.8 million in net outflows, bringing total outflows across the two groups to $444.6 million.
CoinGlass data showed total liquidations of $305.23 million in Bitcoin positions and $126.35 million in Ethereum positions. Long liquidations accounted for $266.45 million in Bitcoin and $104.74 million in Ethereum. Solana liquidations reached $23.63 million, XRP $12.78 million, and Dogecoin about $11.17 million. Liquidations across these five cryptocurrencies exceeded $479 million, with roughly $414 million coming from long positions.
