Bitcoin Price Hits 12-Week Low as Fed Fears Return

The bitcoin price sank to a 12-week low on November 13, falling below $69,000 as investors weighed stubborn U.S. inflation and the prospect of another Federal Reserve rate increase. The selloff erased much of Bitcoin’s summer recovery, while ETF outflows and forced liquidations added pressure.

What happened to the bitcoin price

The decline gathered pace across November 12 and 13. Bitcoin fell to $71,200 on November 12, its lowest price in nearly 12 weeks, according to The Block. The outlet said the asset was trading around $71,600, down 3.4%, when it published its report.

By 12:10 a.m. ET on November 13, Bitcoin had dropped to $68,408, down 7% over 24 hours and at its lowest level since August 20, The Block reported. Decrypt linked the broader retreat to persistent inflation, rising expectations of another rate hike and withdrawals from Bitcoin funds.

The pressure came after a summer rally had lifted Bitcoin above $80,000 on August 24 for the first time since May 15, CoinDesk reported. The November 12 low was already below that milestone, and the subsequent fall beneath $69,000 extended the reversal.

Why Fed rate fears are weighing on Bitcoin

The October inflation figures came amid rate concerns cited in reports on Bitcoin’s decline, but the evidence does not establish that the CPI data alone drove the selloff. The U.S. Bureau of Labor Statistics reported that consumer prices rose 0.4% in October, following a 0.6% increase in September. Core CPI, which excludes food and energy, increased 0.3% in October.

On November 10, Fed Governor Christopher Waller said he supported a 25-basis-point increase at the December meeting. He added that a 50-basis-point move should be considered if October core inflation came in around 0.3% or higher. Waller stressed that these were his views, not necessarily those of the Board or the Federal Open Market Committee. The Federal Reserve speech therefore signals one policymaker’s position, not a settled decision.

The Fed held its target range at 3.75%-4.00% on October 28, according to its press conference transcript. A December increase remains a possibility, not a rate change that has already happened.

The supplied reports do not establish that rate expectations alone caused the decline. The Block cited risk aversion around NVIDIA’s November 12 announcement that Jensen Huang had resigned as president, CEO and board member, effective immediately, alongside rate expectations.

Bitcoin price and wider market reaction

The fall triggered a large wave of leveraged-position liquidations. The Block put total crypto liquidations at more than $750 million on November 12, including over $634 million in long positions. In its November 13 report, the outlet counted $1.47 billion over the prior 24 hours, of which $1.31 billion were longs. Long positions accounted for more than $634 million of the November 12 total and $1.31 billion of the November 13 total, according to The Block.

Market analyst Rick Maeda, cited by The Block, said thin bids after the CPI report contributed to liquidations. Fund flows were another pressure point: The Block reported U.S. spot Bitcoin ETF net outflows of $1.28 billion in the week before November 11 and another $296 million on Monday and Tuesday. The figures document net outflows during the reported periods; they do not establish whether outflows continued after Tuesday.

At 18:13 UTC on November 13, market data listed Bitcoin at $68,780, down 4.34% over 24 hours and 9.27% over seven days. The timestamp matters: The Block’s $68,408 figure was an earlier reading, not a contradiction. The same snapshot showed Ethereum and Solana were also down over 24 hours and seven days.

Asset	Price	24-hour change	7-day change
Bitcoin (BTC)	$68,780	-4.34%	-9.27%
Ethereum (ETH)	$1,936.59	-3.99%	-13.25%
Solana (SOL)	$79.96	-2.07%	-11.77%

Figures are from the provided market data, timestamped November 13, 2026 at 18:13 UTC. The Crypto Fear & Greed Index was 20, classified as Extreme Fear, on November 13. Sentiment gauges describe market mood, not a reliable forecast.

What to watch next for the bitcoin price

The December Fed meeting is a key event to watch, but the next decision will depend on incoming economic evidence and policymakers’ views. October’s CPI report and Waller’s comments have sharpened attention on inflation, while his remarks do not commit the full FOMC to a hike.

Further ETF-flow reports could show whether outflows persisted beyond Monday and Tuesday, while further liquidation data could show whether totals declined from the reported 24-hour spike. The Block cited thin bids after the CPI report as contributing to liquidations; its reporting does not establish how that condition will affect future prices.

The Block cited risk aversion around NVIDIA’s November 12 leadership announcement alongside interest-rate expectations, but the evidence does not establish how either factor will affect future Bitcoin prices. The cited indicators describe reported market conditions, not a forecast.

FAQ

Why did the bitcoin price fall to a 12-week low?

Reports cited inflation concerns, expectations of a possible December Fed rate increase, Bitcoin ETF outflows and broad risk aversion. Heavy liquidations then added to the market’s selling pressure.

Has the Federal Reserve raised rates in December 2026?

As of November 13, no December rate increase had taken place. The Fed held its target range at 3.75%-4.00% on October 28. A December increase is a possibility discussed by Waller and market participants, not an enacted change.

How low did Bitcoin trade on November 13?

The Block reported a price of $68,408 at 12:10 a.m. ET, the lowest since August 20. Provided market data later showed $68,780 at 18:13 UTC on November 13.

Sources

• Speech by Governor Waller on the economic outlook (www.federalreserve.gov)
• Bitcoin Hits 12-Week Low as Fed Rate Fears Undo Most of Summer Rally (Decrypt)
• Bitcoin falls to 12-week low, Strategy and Metaplanet to lose MSCI index membership, and more (www.theblock.co)

This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrencies are highly volatile; always do your own research before investing.

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