Bitcoin Breaks Below $70,000 as the Crypto Sell-Off Accelerates

By Kevin · 2026-11-13 · News

Nov. 13 (CandyPulse) — The line many traders were watching has given way. Bitcoin fell below $70,000 for the first time since August, touching a low near $68,943, as a wave of forced selling swept through the crypto market.

Key takeaways

Bitcoin dropped below $70,000 late Nov. 12 U.S. time (early Nov. 13 elsewhere), its first trade under that level since August
The reported intraday low was about $68,943
About $622 million of leveraged bets were liquidated in four hours; estimates for 24 hours run from $1.2 billion to $1.4 billion
Most of the damage hit traders betting on a rise: about $549 million of longs versus $72 million of shorts in the four-hour window
The $68,000–$70,000 zone is now the key area to watch

The move in numbers

Item	Reading
Level broken	$70,000 (first time since August)
Intraday low	About $68,943
Liquidations, 4 hours	About $622 million
Liquidations, 24 hours	About $1.2–$1.4 billion
Longs vs shorts (4 hours)	$549 million vs $72 million
Spot Bitcoin ETF flows	About $2 billion out over three weeks

Liquidation totals depend on the time window and data provider.

What a liquidation wave is

Many traders borrow to make bigger bets. When the price falls far enough, exchanges close those bets automatically to recover the loan. That means selling, which pushes the price lower, which closes more bets. It's a chain reaction, and it's why falls like this happen fast.

The numbers show who got caught: nearly all the forced selling came from people betting on a rise.

Why it happened

No single cause explains it. Reports point to several pressures landing together:

Tech shock. Nvidia's CEO resigned on Thursday and AI stocks fell; several outlets tie the timing of crypto's drop to it (full story).
Rates. A stronger dollar and expectations that U.S. interest rates stay higher for longer; one report says a hot inflation print pushed December Fed hike odds above 90%.
Money leaving. Spot Bitcoin ETFs have seen about $2 billion of outflows in three weeks, and stablecoin supply has shrunk by $14.2 billion in 30 days.

We flagged $70,000 as the level to watch when Bitcoin slid below $74,000 earlier this week.

It wasn't only Bitcoin

Ether lost $2,000, Solana fell below $80 and XRP has been sliding toward $1. When cash leaves crypto, smaller coins usually fall harder.

What could happen next

These are scenarios traders are discussing, not predictions.

If $68,000–$70,000 holds, forced selling may be largely done. Big liquidation waves often clear out the most fragile bets, which can steady the market.
If it breaks, the next round of stop-loss orders comes into play and the slide could extend.
The signal to watch is money returning: ETF inflows and stablecoin supply turning up.

A word for holders

Days like this are uncomfortable, and they're also normal for this market. Avoid decisions made in a panic, be careful with borrowed money, and only hold what you can afford to see fall. If terms like "liquidation" or "support" are new, our crypto glossary explains them in plain English.

What's next

Watch the $68,000–$70,000 zone, daily ETF flows, and Nvidia's earnings call on Nov. 17, which could move tech and crypto together.

More from today:

Track the market on our Bitcoin price today and crypto prices today pages, follow the Crypto News Today desk, and catch up every Sunday with CANDY Weekly.

Disclaimer: This article is for information only and is not financial advice. Market figures move quickly and different data providers can show slightly different numbers. Always do your own research before making any investment decision.