TLDR
- Bitcoin hit a low of $67,555 and now trades near $68,000.
- More than $1.3 billion in crypto futures were liquidated in 24 hours.
- The Dollar Index reached its highest level since April 2025.
- Jensen Huang resigned from Nvidia and MSCI will remove Strategy from its indexes on Nov. 30.
- Analysts expect a short bounce, then a retest of the $76,000 breakdown level.
Bitcoin (BTC) fell to a low of $67,555 on Friday. It now trades near $68,000. The drop took the price under $70,000 for the first time since Aug. 19.
CoinDesk data shows prices are down 17% this quarter. That reverses a large part of the rally from the three months before. The market had been under pressure for most of the week.
Wu Blockchain reported that Bitcoin first slipped to $68,943 before trading at $69,297 on Binance. That was a 6.11% drop over 24 hours. The 24-hour high was $73,866.
Other major tokens followed the move lower. Ether fell below $2,000 for the first time since August. XRP traded close to $1, and Solana traded below $80.
Smaller tokens also lost ground. GT, Stacks and XMR were each down 7% or more. Several of them fell as Bitcoin broke below $70,000.
Liquidations Pass $1.3 Billion
Crypto futures worth more than $1.3 billion were liquidated over 24 hours, according to Coinglass. Bitcoin alone made up $677 million of that total. Nearly $500 million came just as BTC dropped under $70,000.
Wu Blockchain also cited CoinGlass data showing $622 million in liquidations in four hours. Of that, $549 million were long positions and $72.46 million were shorts. Long traders took most of the losses.
The largest single liquidation was worth more than $31 million. It was a long BTC position on the Hyperliquid trading platform. An exchange closes a leveraged position when losses use up the trader’s margin.
Bitcoin Plunges Below $70,000 as Crypto Liquidations Hit $622 Million in Four Hours
Bitcoin fell below $70,000 to a low of $68,943 before trading at $69,297, down 6.11% over 24 hours, according to Binance. The cryptocurrency had reached a 24-hour high of $73,866. CoinGlass data… pic.twitter.com/HUI6VZJjCD
— Wu Blockchain (@WuBlockchain) November 13, 2026
Dollar and Rate Pressure
The Dollar Index traded above 103 on Friday. That is its highest level since April 2025. The index has risen nearly 2% since early October.
The move came as odds grew for a Federal Reserve rate hike. Traders now see a higher chance of a half-point increase in December. A hotter-than-expected October consumer price report added to those odds.
Middle East news also drew attention. Iran’s IRGC said it destroyed a U.S. early-warning radar in Bahrain. WTI oil still traded near $88, slightly below Thursday’s high of $89.15.
Nvidia news added to the pressure on Thursday. Jensen Huang resigned as president, CEO and board member, effective immediately. Nvidia shares opened down 12%, and CFO Colette Kress became interim CEO.
MSCI also confirmed it will remove Strategy (MSTR) from its indexes on Nov. 30. Wintermute described this as a passive-selling risk with no size estimate. The firm’s OTC trader Jasper De Maere said Wintermute stays cautious on Bitcoin.
De Maere said there are no clear signs of large buyers at current prices. He added that the majors need ETF inflows to carry them higher. That would change if flows stay positive for several days in a row.
Analyst Colin Talks Crypto shared a possible path for Bitcoin on X. He expects a bounce within days, then a retest of the $76,000 breakdown level. He sees a drop after that to between $62,000 and $70,000 over one to three months.
This is a total guess for how $BTC price action may play out over the coming few months:$BTC's downward trajectory is steepening. As such, I suspect we'll see a bounce relatively soon (think: time frame of days).
Such a bounce will then retest the underside of the $76k… https://t.co/If3zvpOi9X pic.twitter.com/20g1jOPmGj
— 𝙲𝚘𝚕𝚒𝚗 𝚃𝚊𝚕𝚔𝚜 𝙲𝚛𝚢𝚙𝚝𝚘 (@ColinTCrypto) November 12, 2026
Colin Talks Crypto also said that low could form the right shoulder of a large inverse head-and-shoulders pattern. He said a breakout above the neckline would give a target of all-time highs. He gave a timeframe of late 2027 for that move.
Bitcoin now trades near $68,000, after a low of $67,555 on Friday.
