TLDR
- Bitcoin touched a three-month low just above $62,000 and is down 17% over the past week.
- Analyst James Check counts a fourth capitulation event since the all-time high.
- Glassnode flags a large liquidation cluster near the current price.
- U.S. spot Bitcoin ETFs have lost $1.91 billion over seven straight trading days.
- November ETF outflows have reached $2.35 billion, the largest monthly total since June.
Bitcoin (BTC) fell to a three-month low on Saturday, touching a level just above $62,000. Red candles kept piling up across the crypto market.
The price has slid about 8% since the U.S. stock market closed on Friday evening. The drop came with steady selling through the day.
Over the past week, Bitcoin is down 17%. Ether, XRP and Solana each lost 22% in the same period.
Analyst James Check said the market is watching the fourth capitulation event since the all-time high. He shared the view early Saturday.
Check said many of those taking losses missed the chance to buy in the mid-to-high $60,000s last summer. They then bought in September in the $80,000s.
In his words, these holders are now selling at the same price they wished they had bought three months ago.
Analysts Weigh Deep Value Zone and Liquidation Risk
Check said Bitcoin has entered a deep value zone. The market last visited it in February and late June this year, and before that in the 2022 crypto winter.
He added that this does not mean the bottom is in. History shows that those who start buying in steps have eventually ended up in profit, he said.
Glassnode flagged a large liquidation cluster near the current price. The firm said the August breakout left behind a pile of long entries.
bitcoin:native price is approaching a massive liquidation cluster.
The August breakout left behind these long entries. Markets tend to gravitate toward spots of fragility such as this.
After weeks of selling, this could be the accelerant for a final capitulation flush. pic.twitter.com/CYlA1wJLQV
— glassnode (@glassnode) November 14, 2026
Glassnode said markets tend to move toward fragile spots like this one. After weeks of selling, it wrote, the cluster could act as the push for a final capitulation flush.
Crypto commentator Ash Crypto offered a different explanation for the slide. He said U.S. investors are reportedly selling Bitcoin ETFs to buy into the Anthropic IPO.
Why Bitcoin is dumping?
US investors are reportedly selling Bitcoin ETFs to get into the Anthropic IPO.
Nearly $2.35 BILLION worth of Bitcoin ETFs have been sold so far this month.
We saw something similar during the SpaceX IPO in June. Money moves to the next big thing, and… pic.twitter.com/44uaaLsFmW
— Ash Crypto (@AshCrypto) November 14, 2026
He said about $2.35 billion in Bitcoin ETFs has been sold so far this month. He compared it to June, when money moved toward the SpaceX IPO.
Spot Bitcoin ETFs Extend Outflow Streak
Data from SoSoValue shows U.S. spot Bitcoin ETFs lost $1.07 billion last week. It was the second week in a row with more than $1 billion leaving the funds.
Spot Bitcoin ETFs See $185 Million in Net Outflows, While Spot Ethereum ETFs Draw $2.36 Million in Net Inflows on November 13 (ET)
According to SoSoValue, U.S. spot Bitcoin ETFs recorded $185 million in net outflows on November 13 (ET), marking their seventh consecutive trading… pic.twitter.com/eynTzOTkYV
— Wu Blockchain (@WuBlockchain) November 14, 2026
The funds have now posted seven straight days of outflows, totaling $1.91 billion since Nov. 5. That is the longest such streak since a 10-day run that ended July 1.
BlackRock’s IBIT made up $143.5 million of Friday’s $185.5 million outflow. Fidelity’s FBTC lost $41.9 million, and the other 10 funds reported no flows.
November outflows have reached $2.35 billion after nine trading days. That is the largest monthly total since June, and the funds are down about $1.98 billion for 2026.
Other crypto ETFs also lost money. Ether funds shed $398.9 million for a seventh straight weekly loss, while Solana funds lost $32.1 million.
Avalanche funds were the only category with an inflow, taking in $227,000 on Thursday. Ten of the 15 tracked categories posted outflows.
Bitcoin fell below $69,000 early Friday, its lowest level since Aug. 20 at the time. Traders were weighing Jensen Huang’s resignation as Nvidia CEO and expectations of another Federal Reserve rate hike. By Saturday, Bitcoin was trading near $64,300 after touching its three-month low.
