Bitcoin Slips Below $70K as $1.6B in Leveraged Bets Liquidated

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Bitcoin Slips Below $70K as $1.6B in Leveraged Bets Liquidated

Bitcoin fell below $70,000 on November 13, 2026, dropping as low as $67,770 — its weakest level since August 19 — as a stronger US dollar and expectations of another Federal Reserve rate increase rattled cryptocurrency markets, according to Bitcoinist. The move triggered more than $1.6 billion in forced liquidations across derivatives exchanges in 24 hours.

Key facts

• Price low: Bitcoin hit $67,770 on November 13, its weakest since August 19, 2026; Ethereum briefly hit $1,900 (Bitcoinist).
• Liquidations: Approximately $1.64 billion in crypto positions were liquidated over 24 hours, with long positions at nearly 89% of the total (CoinGlass, via Bitcoinist). The largest single liquidation was a $31.1 million BTC long on Hyperliquid.
• Macro backdrop: The US Dollar Index closed above 103, its highest since April 2025, while CME FedWatch showed an 88% probability of a 25-basis-point December rate increase (Bitcoinist).
• ETF outflows: US spot Bitcoin ETFs posted $47.7 million in net withdrawals on Thursday, extending a six-session losing streak to about $1.44 billion cumulative net outflows (Bitcoinist).
• Corporate headline: crypto.news reported that Nvidia CEO Jensen Huang resigned, with CFO Colette Kress named interim CEO, and Nvidia shares fell roughly 4%.

The numbers behind the sell-off

Bitcoinist reported that the earlier $1.64 billion liquidation figure was driven by Bitcoin-related positions, which accounted for $916 million of the total. Longs made up 95.2% of Bitcoin’s forced closures, while Ethereum drew another $289 million in liquidations. Futures trading volume jumped 58.3% to $269.1 billion, even as open interest declined 4.6% to $120.2 billion — consistent with traders closing positions rather than adding new ones. That distinction matters: falling open interest alongside falling price usually signals a deleveraging move rather than a fresh surge of short-selling.

crypto.news put total liquidations at approximately $1.23 billion across over 151,000 traders, with $677.5 million in Bitcoin-related positions, including $653.5 million in longs and $24.1 million in shorts. Its ETF data was also different: it cited Farside Investors for $299.8 million in net withdrawals on November 11, of which BlackRock’s IBIT accounted for $269.7 million, versus Bitcoinist’s $47.7 million Thursday figure and six-day streak. Readers should treat both figures as snapshots taken at different times rather than a single reconciled total.

What is driving the sell-off

The dollar’s rise remains the primary macro pressure. When the Dollar Index moves above 103 and Treasury yields climb, assets that do not pay interest — including Bitcoin — become less attractive relative to cash and bonds. That dynamic explains much of the correlation between Bitcoin and technology stocks that has persisted through 2026.

The Nvidia leadership change is the most unusual factor. Although Nvidia’s interim CEO appointment does not appear to directly affect crypto markets, Bitcoin’s recent tracking of tech equities meant the shockwave carried through. crypto.news also noted geopolitical concerns after Iran’s Islamic Revolutionary Guard Corps claimed an attack on a US radar installation in Bahrain — a detail absent from Bitcoinist’s report.

Market snapshot

As of November 14, 2026, 05:04 UTC, CoinPaprika data showed Bitcoin at $66,755 (₹6,292,643), down 2.5% in 24 hours and 12.1% over seven days, with a market cap of $1.34 trillion. Ethereum traded at $1,891 (₹178,268), down 1.3% on the day and 15.8% on the week. (These are market data points, not forecasts.)

What it means for India

For Indian holders, the rupee value of Bitcoin has fallen alongside the dollar price. With USDT quoted at ₹94.22 against a reference rate of ₹94.29 — a premium of roughly -0.1% — there is little pricing distortion to absorb the move. Under current rules, gains on virtual digital assets are taxed at a flat 30% with 1% TDS on transfers, so losses in this sell-off cannot be set off against other income or carried forward.

Why it matters

Bitcoin’s break below $70,000 changes the near-term narrative for a market that had spent the autumn defending that level. The $67,770 low is now the line in the sand; a close below it could open the door to the $65,000 area cited by crypto.news, while a reclaim of $70,000 would be the first sign buyers are willing to step back in.

For ETF investors, the six-session outflow streak is a bigger signal than the daily price move: it suggests some institutional holders are reducing exposure rather than treating the dip as a buying opportunity. That matters for anyone tracking whether the 2026 Bitcoin ETF bid is structurally durable or rate-sensitive. Our earlier reporting on Michael Saylor’s corporate Bitcoin exposure and the 200-day moving average remains relevant context, since a deeper drawdown would pressure the largest corporate holders.

What to watch

The Fed’s December 8–9 policy meeting is the next major macro trigger, alongside the October producer price figures expected on November 13 and upcoming US inflation data. The next round of spot Bitcoin ETF flow prints will show whether outflows are slowing or accelerating.

This article is not financial advice. Bitcoin and other cryptocurrencies are volatile and unpredictable; prices can fall as quickly as they rise. Readers should do their own research and consider their circumstances before making any investment decision.

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