Key facts
- Bitcoin fell 5.6% on November 13, 2026, trading just over $69,300, per Decrypt data.
- Bitcoin hit a 24-hour low of $67,922, its lowest level since mid-August.
- Tim Sun of Hashkey told Decrypt the drop was triggered by a concentrated liquidation of leveraged long positions.
- Sun cited six consecutive days of net outflows from U.S. Bitcoin spot ETFs, per CoinGlass.
- Ethereum fell 4.6% to $1,953 and BNB slipped 4.7% to $639.46, per Decrypt data.
- The global crypto market cap fell 4.6% over 24 hours to $2.39 trillion.
Bitcoin fell 5.6% on November 13, 2026, trading just over $69,300, according to Decrypt data. The cryptocurrency briefly dropped below $69,000 and hit a 24-hour low of $67,922, its lowest level since mid-August.
Tim Sun, senior analyst at Hashkey, told Decrypt that the drop below $69,000 was directly triggered by a concentrated liquidation of leveraged long positions, while the deeper issue was steadily weakening market demand. Sun pointed to U.S. Bitcoin spot ETFs recording six consecutive days of net outflows, according to CoinGlass, as well as shrinking stablecoin supply and MSCI removing digital asset treasury firm Strategy from its funds.
Other major cryptocurrencies also fell. Ethereum dropped 4.6% to $1,953, BNB slipped 4.7% to $639.46, and Solana was down 3.1% to $80.47, per Decrypt data. The global crypto market cap fell 4.6% over the past 24 hours to $2.39 trillion.
The report linked the move to U.S. CPI rising 0.4% in October, which James Butterfill, head of research at CoinShares, described as hotter than expected even as the headline monthly rate eased from September's 0.6%. Butterfill said core CPI increased 0.3% and services excluding rent rose 0.5%. Polymarket predictors put a 97% chance on the Fed raising interest rates this year, up from 75% at the start of the week, while the CME FedWatch tool showed an 88% chance of a 25 basis point hike and 12% anticipating a 50 basis point rise.
The report also said Nvidia CEO Jensen Huang resigned from the company, which Sun said sparked volatility across tech stocks and prompted broader portfolio de-risking that amplified downward pressure on Bitcoin. Sun said a crypto rebound would require long-term allocation capital to flow back into crypto after ETFs, stablecoins, and digital asset treasury companies have taken a hit in recent weeks.