Bitcoin mining entrepreneur Jiang Zhuoer liquidated all of his small-cap decentralized finance token holdings on November 15, 2026, after Bitcoin fell to an intraday low of $62,081, breaking below support levels he had identified at $63,853 and $64,100. Jiang, identified by Crypto.news as founder of BTC.TOP and by PANews as founder of Lebit mining pool, exited positions during a morning rebound and paused trading.
Jiang retained a hedged neutral position consisting of a 100% Ethereum long, a 100% Bitcoin long, and a Bitcoin short sized at 200%. He said the decline was faster than expected and that his losses were manageable, but he closed the DeFi positions to avoid deeper losses if the market continued falling. He warned that a drop below $57,800 could signal further losses for small-cap DeFi tokens.
Market stress was broad. Approximately $1.96 billion in crypto liquidations occurred over 24 hours, with Bitcoin accounting for nearly $750 million, including roughly $600.5 million in long positions. US spot Bitcoin ETFs recorded about $1.91 billion in net outflows across seven consecutive trading sessions ending November 13. BlackRock’s IBIT and Fidelity’s FBTC lost $143.5 million and $41.9 million, respectively, on Friday. The Coinbase premium discount had lasted 51 consecutive days by November 13, with Bitcoin trading 0.10% below Binance’s price.
Binance CEO Richard Teng described the selloff as a normal reaction to tightening macro conditions and shifting sentiment around AI financing. He maintained that the long-term case for Bitcoin and crypto remains intact, citing maturing institutional infrastructure and adoption pathways. Binance co-founder Yi He echoed that view. Binance Research reported heavier aggressive Bitcoin selling on a major dollar-denominated exchange, with a net sell imbalance of 7,438 BTC between November 11 and 14, compared with 2,707 BTC on Binance — a gap of about 2.75 times.
Researchers said Bitcoin declined 15.6% over 11 days, its steepest comparable selloff since June. They linked the drop to concerns over interest rates, dollar liquidity, and AI investment sustainability. Perpetual contracts tracking Nebius Group fell 27.5% over the same period. Investors are watching Nvidia’s November 17 earnings report for further AI financing signals. At the latest reading, Bitcoin traded near $65,530, down 1.5% in 24 hours and 13.6% over seven days, while Ethereum traded near $1,835, down 2.0% in 24 hours and 17.9% over seven days.
