Bitcoin fell below $69,000 on Friday, November 13, 2026, extending a broad crypto sell-off that erased roughly $370 billion from its market capitalization in six weeks. The largest cryptocurrency traded near $68,660 during early Asian hours, down about 6.8% over 24 hours, after changing hands above $73,700 in the previous session. Its market capitalization dropped more than $60 billion in one day to roughly $1.37 trillion, the lowest level in nearly three months.
According to market data cited by Cointelegraph, the six-week decline represents a 21% fall from early October valuations. Although a $60 billion market cap decrease reflects the change in the estimated value of Bitcoin's circulating supply rather than an exact cash withdrawal, the speed of the fall has raised questions about demand and investor confidence near key support levels.
Derivatives markets added fuel to the downward move. Around $1.41 billion in leveraged crypto positions were liquidated over a rolling 24-hour period, with almost 89% involving long positions, CoinGlass figures showed. During one four-hour window, approximately $622 million was forcibly closed, including about $549 million in longs, affecting more than 110,000 traders. One reported liquidation on Hyperliquid reached $31.09 million. Bitcoin broke below the psychologically important $70,000 level and its 200-day moving average, with analysts identifying $67,300–$68,000 as a possible support zone.
Institutional withdrawals and macro concerns compounded the selling. U.S. spot Bitcoin ETFs recorded $299.8 million in net outflows on November 11, according to Farside Investors. BlackRock's iShares Bitcoin Trust accounted for $269.7 million of that total, while Grayscale's GBTC lost another $39.1 million. Preliminary data for November 12 indicated $47.7 million in net withdrawals, though BlackRock and Fidelity figures were still outstanding. Stronger-than-expected U.S. inflation data pushed Treasury yields higher and lifted the dollar index to about 103.18, near a 19-month high, reinforcing expectations for tighter Federal Reserve policy.
MSCI's decision to remove Bitcoin treasury company Strategy from major equity indexes added to the uncertain backdrop, as it may affect the company's access to institutional capital even though it does not require immediate Bitcoin sales. Ethereum fell below $2,000, XRP approached $1, and Solana slipped beneath $80 as risk sentiment weakened across crypto markets. Traders are now watching whether Bitcoin can stabilize above support, attract renewed spot demand, and reverse the outflows that have amplified the correction.
