Bitcoin Crashes Below $69,000 to Lowest Since August as $1.4 Billion in Crypto Bets Are Wiped Out
Bitcoin fell below $69,000 in early trading on Friday, 13 November 2026, sliding to its lowest price since August as a wave of forced selling swept through crypto markets. The world’s largest cryptocurrency traded near $68,750 after dipping to about $68,500 overnight, down roughly 7 percent in 24 hours.
The drop extended a slide that began earlier in the week, when bitcoin lost the $73,000 and $72,000 levels in succession. It is now about 45 percent below the record high above $126,000 it set in October 2025, and it has given back almost all of the ground it recovered after touching its low for the year, $57,735, on 1 July.
Bitcoin by the numbers
| Measure | Friday, 13 November 2026 |
|---|---|
| Bitcoin price | About $68,750, after falling below $69,000 |
| 24-hour change | Down about 6.8% |
| Lowest since | August 2026 |
| Distance from record high | About 45% below $126,000-plus (October 2025) |
| Bitcoin market value | About $1.38 trillion |
| Crypto liquidations, 24 hours | About $1.4 billion |
| Bitcoin ETF outflows, 5–11 November | About $1.44 billion |
| Ether | Below $2,000, first time since August |
More than $1.3 billion in leveraged bets wiped out
The sharpest damage came in the derivatives market, where traders borrow money to bet on prices. crypto.news market data showed bitcoin falling from near $73,500 on Thursday morning to below $69,000 in the early hours of Friday, with the steepest leg coming between about 02:00 and 03:30 UTC.
CoinGlass data put total crypto liquidations at about $1.4 billion over 24 hours, with long positions — bets that prices would rise — accounting for almost nine in ten dollars lost. Bitcoin alone accounted for about $677 million of the wiped-out positions, and more than 170,000 traders were liquidated. The single largest loss was a $31.09 million long bet on the Hyperliquid exchange.
Ether, the second-largest cryptocurrency, fell below $2,000 for the first time since August. The total value of the crypto market dropped to about $2.34 trillion, down 7.9 percent in a day.
ETF investors keep heading for the exit
Behind the selling sits a steady drain from US spot bitcoin exchange-traded funds, which have now recorded five straight sessions of net withdrawals. About $1.44 billion flowed out of the funds between 5 and 11 November, according to Farside Investors data, including $299.8 million on 11 November alone, led by BlackRock’s fund.
The outflows mark a sharp reversal from the enthusiasm that carried bitcoin to its October record. When ETF buyers step back at the same time as leveraged traders are forced to sell, the two flows reinforce each other, and this week they did.
Hot inflation and a hawkish Fed set the tone
The macro backdrop turned against risk assets on Tuesday, when the October inflation report showed US consumer prices rising 0.4 percent, above the 0.3 percent economists had expected. Core prices, which strip out food and energy, rose 0.3 percent for a third straight month, against a forecast of 0.2 percent.
New York Fed President John Williams said on Thursday that further interest rate increases are likely, and markets are now pricing a 94 percent chance of a quarter-point rise at the Federal Reserve’s 9 December meeting. The dollar climbed above 103 on its trade-weighted index on Thursday, its highest in about 19 months, adding pressure on assets priced in dollars.
Nvidia’s leadership shock added to the sell-off
The technology sector delivered its own jolt on Thursday, when Nvidia announced that co-founder Jensen Huang had resigned as president, chief executive and board member with immediate effect. The move followed weeks of scrutiny over Huang’s personal relationships and a board investigation into whether he had been targeted by a foreign intelligence operation.
Chief Financial Officer Colette Kress will serve as interim chief executive while the board searches for a permanent successor, and Harvey C. Jones was appointed as the company’s first chairman. USA Today reported that Nvidia shares plunged more than 13 percent after the news broke, deepening a sell-off in chip stocks that had already been under way. The turmoil follows Nvidia’s boardroom crisis, which this site covered on Wednesday.
What traders are watching next
October producer price data is due from the Bureau of Labor Statistics later on Friday, and it will be the next test of whether inflation is cooling fast enough to change the Fed’s course. Nvidia reports quarterly results on Tuesday, 17 November, as previously scheduled.
In the short term, traders see $70,000 as the level bitcoin must reclaim to steady itself, with support between $68,500 and $69,000. A sustained break below that range could expose $65,000, while a recovery above $70,000 would bring resistance between $71,000 and $71,500 into focus.
Bitcoin crash FAQs
How far has bitcoin fallen?
Bitcoin fell below $69,000 on Friday, 13 November 2026, down about 6.8 percent in 24 hours and about 45 percent from its record high above $126,000 in October 2025.
Why is bitcoin crashing?
No single cause explains the drop. Hotter-than-expected US inflation, expectations of further Fed rate rises, a stronger dollar, five straight sessions of ETF outflows and Nvidia’s leadership crisis all weighed on risk assets at the same time.
How much money was liquidated?
About $1.4 billion in leveraged crypto positions were closed in 24 hours, according to CoinGlass data, with bitcoin accounting for about $677 million and more than 170,000 traders liquidated.
How much has flowed out of bitcoin ETFs?
US spot bitcoin ETFs recorded about $1.44 billion in net outflows over five sessions from 5 to 11 November, including $299.8 million on 11 November alone.
What is bitcoin’s lowest price this year?
Bitcoin’s low for 2026 so far is $57,735, reached on 1 July. Friday’s price of about $68,750 is its lowest since August.
