Bitcoin Crashes Below $70,000 for First Time Since August, Falls to $65,000

Bitcoin crashed below $70,000 on Friday, November 13, 2026, for the first time since August, and kept falling on Saturday to $65,000, as selling, ETF outflows and a surging dollar pushed the largest cryptocurrency more than 20 percent below its October peak. The slide began with a 3.8 percent drop on Thursday, putting Bitcoin on course for a sixth straight weekly loss.

Key Points

• The break: Bitcoin fell below $70,000 on Friday, November 13, 2026, for the first time since August 20, sinking as much as 5.4 percent to about $67,628, its lowest since August 19 (Friday's close: $68,879.24).
• The slide continued: On Saturday, Bitcoin traded at $65,439.32 as of 8:07 a.m. PT, down 4.99 percent from Friday's close, after touching $65,021.
• The scale of the fall: Bitcoin is down more than 20 percent from its October 5 close above $86,000, about 11 percent in November and about 12 percent on the week, on course for a sixth straight weekly loss.
• A key level lost: The price also slipped below its 200-week moving average near $67,992 to $68,000, the first time under that trend line since August.
• ETF investors are leaving: US spot Bitcoin ETFs recorded a seventh straight session of net outflows, $185.45 million on Friday, with about $1.44 billion pulled out over five sessions through November 11.

What Happened

Selling started on Thursday, when Bitcoin fell 3.8 percent, and turned into a rout on Friday. The token broke the $70,000 level held since late August, falling as much as 5.4 percent to about $67,628, its lowest since August 19. Friday's close, $68,879.24, was a three-month low. Saturday brought no relief: Bitcoin kept sliding to $65,439.32 as of 8:07 a.m. PT, down almost 5 percent from Friday's close, after touching $65,021.

Damage spread beyond Bitcoin. Leveraged crypto liquidations reached $1.47 billion over 24 hours, including $1.31 billion in long positions, as traders betting on rises were forced out. That forced selling turned a sharp correction into a cascade, erasing the rally that carried Bitcoin above $86,000 in early October.

Background: From $86,000 to $65,000 in Six Weeks

Six weeks ago, Bitcoin looked unstoppable. It closed above $86,000 on October 5, 2026, riding optimism about institutional adoption and steady ETF inflows. November has reversed that story: the token is down about 11 percent in the month, and the fall from the October peak now exceeds 20 percent — a bear market by definition.

The 200-week moving average, near $67,992 to $68,000, is one of the longest-term trend lines traders watch. Bitcoin slipping below it for the first time since August signals more than a short-term pullback. Long-term holders who bought higher are now sitting on losses, and the picture has flipped from an uptrend to a market searching for a floor. See also our report on Wall Street rebounding on Friday, a sign of how sharply sentiment has swung this month.

Bitcoin Crashes Below $70,000: The ETF Exodus

The clearest sign of the mood change is the money leaving spot Bitcoin ETFs. US funds recorded a seventh straight session of net outflows on Friday, $185.45 million in a single day. About $1.44 billion flowed out over the five trading sessions through November 11. BlackRock's IBIT, the largest fund, has lost about $2 billion over nine sessions through Wednesday — a sharp reversal for the fund that powered Bitcoin's rise.

The exodus matters because these funds brought mainstream investors and advisers into Bitcoin. When that money turns, it removes the steady buying that underpinned the price all autumn. This is not only crypto traders taking profits: it is the institutional money that piled in during the rally now heading for the exit.

Reactions: A Market Repricing Everything at Once

Traders point to several forces at once. US producer prices rose 6.5 percent year on year, hotter than expected, pushing traders to price in an about 88 percent chance of another Fed rate hike in December. Higher rates hurt Bitcoin, which thrives on cheap money. The dollar has surged, with the Dollar Index above 103, a 19-month high, and the 10-year Treasury yield near 5.15 percent, giving investors a high, safe return elsewhere.

The week also brought a shock from technology. Nvidia chief executive Jensen Huang resigned on November 12, 2026, rattling the artificial intelligence trade that has driven markets all year. See also our report on the Nasdaq's 5.5 percent fall, its worst day since April, the same reassessment of the AI boom. When stocks fall that hard, Bitcoin, which trades around the clock with no circuit breakers, often falls harder.

Why It Matters

Bitcoin is no longer a niche asset. It sits in pension portfolios, advisers' funds and company balance sheets, and its price now moves with the same forces as stocks, bonds and the dollar. A fall of more than 20 percent from the October peak is a warning about the wider market, not just crypto: investors are suddenly less willing to pay for risk.

The break below the 200-week moving average adds to the concern. That line has acted as a floor in previous sell-offs, and losing it tends to bring in more sellers. With ETF outflows running for seven straight sessions and $1.47 billion a day in leveraged positions wiped out, the market has yet to show the capitulation that usually marks a bottom.

What Happens Next

All eyes now turn to December and the Federal Reserve. Traders price in an about 88 percent chance of another rate hike, and any signal from Fed officials could set Bitcoin's next direction. ETF flows will be watched too: if outflows slow, the selling may be exhausting itself; if they accelerate, $60,000 is the next line to watch. Crypto markets never close, and Saturday's slide to $65,000 suggests sellers are still in control.

Frequently Asked Questions

How far has Bitcoin fallen?
Bitcoin fell below $70,000 on Friday, November 13, 2026, for the first time since August 20, and traded at $65,439.32 as of 8:07 a.m. PT on Saturday, after touching $65,021 — down more than 20 percent from its October 5 close above $86,000.

Why is Bitcoin falling?
Hotter-than-expected US inflation — producer prices up 6.5 percent year on year — has traders pricing in an about 88 percent chance of another Fed rate hike in December. A strong dollar, a 10-year yield near 5.15 percent and Jensen Huang's resignation at Nvidia on November 12 added to the selling.

What is happening with Bitcoin ETFs?
US spot Bitcoin ETFs saw a seventh straight session of net outflows on Friday, $185.45 million, with about $1.44 billion pulled out in five sessions through November 11. BlackRock's IBIT has lost about $2 billion over nine sessions through Wednesday.

What is the 200-week moving average and why does it matter?
It is a long-term trend line near $67,992 to $68,000, slipped below for the first time since August. Losing it signals the sell-off is more than a short-term pullback and tends to bring in more sellers.

How much was liquidated in the sell-off?
Leveraged crypto liquidations reached $1.47 billion over 24 hours in the November 13 coverage, including $1.31 billion in long positions, as traders betting on rising prices were forced out.