Bitcoin fell below $70,000 early on Friday, November 13, 2026, for the first time since August 19, and traded near $69,000 in the European morning.[1][2][11] The drop came from several pressures at once: more than $1.3 billion of leveraged crypto bets were liquidated in 24 hours, US bond yields jumped on bets of a bigger Fed rate hike, money kept leaving US bitcoin ETFs, and Iran's Revolutionary Guards claimed a strike on a US radar in Bahrain.[2][3][5][6][7] Update: US producer prices for October, out at 13:30 GMT, rose 0.3% on the month, a little below the 0.4% forecast, and bitcoin ticked up from about $69,165 to about $69,630 in the first minutes after the release, still below $70,000.[15][16][17][11]
 | |
| Date | Friday, November 13, 2026 (Asian trading hours)[1][4] |
|---|---|
| Price | About $69,040 at 07:28 UTC, down about 6% in 24 hours[11] |
| Intraday low | About $69,150 (TradingKey, Asian session)[4] |
| Lowest since | August 19, 2026[1][2][3] |
| Liquidations | $1.3 billion+ in 24 hours, $677 million of it bitcoin[2][3] |
| ETF flows | $643.6 million out, Nov 9 to Nov 12[2] |
| Fear & Greed | 20, "Extreme Fear" (28 a day earlier)[2][12] |
| US PPI (October) | +0.3% m/m (forecast +0.4%), 6.5% y/y (forecast 6.6%)[15][16][17] |
| After PPI | About $69,630 at 13:32 UTC, up from about $69,165 at 13:25[11] |
| Record high | About $126,000 (October 2025)[3] |
What happened
Bitcoin had been sliding all week. It started November 9 near $74,700 and was about $71,400 at midnight UTC on November 13, according to CoinGecko daily data.[11] In Asian trading on Friday it broke below $70,000, a round number many traders watch, and touched about $69,150.[4] CoinDesk and Bitbo both say this was the lowest level since August 19.[1][2]
The rest of the crypto market fell with it. Ether dropped below $2,000 and was near $1,943 at 07:28 UTC, down about 5% in a day.[3][11] CryptoTicker puts bitcoin about 15% lower than in mid-October and about 45% below its record high of around $126,000 from October 2025.[3]
Why is bitcoin falling today?
No single event caused the drop. Market reports on Friday pointed to five pressures that landed together.[1][2][3][5]
1. A wave of forced selling (liquidations)
The sharpest part of the fall came from the futures market. More than $1.3 billion of leveraged bets were forcibly closed in 24 hours, $677 million of them on bitcoin, according to CoinGlass data reported by CoinDesk and Bitbo.[2][3] CoinDesk's own headline put the figure at $1.2 billion earlier in the night, which shows how fast the total grew.[1] Almost $500 million of liquidations came in the single hour when bitcoin slipped below $70,000, and the largest single position closed was a long bet of more than $31 million on the Hyperliquid platform.[3]
2. Bond yields jumped
Bloomberg's headline on Friday blamed higher yields.[5] US two-year Treasury yields rose 34 basis points over two sessions, the sharpest two-day rise in three and a half years, Reuters reported.[6] The two-year closed at 4.73% on November 10, up from 4.56% a day earlier, after a hot inflation report and a hawkish Fed speech.[14] When safe bonds pay more, assets with no income of their own, such as bitcoin and gold, look less attractive.[3][10]
Main article: US CPI October 2026, the inflation report that started the move in rate expectations.
3. Bets on a bigger Fed rate hike
Fed officials warned this week that inflation is still too high, and some signalled they could back a half-point hike. Traders now price a 14.5% chance of a 50 basis point increase at the December meeting, up from 0% a week ago, according to the CME FedWatch tool cited by Reuters.[6] The dollar index is near 103.2, its highest since April 2025.[6] A stronger dollar tends to weigh on bitcoin and gold.[10]
4. Money leaving bitcoin ETFs
US spot bitcoin funds lost a net $643.6 million from Monday through Thursday this week, after $1.28 billion the week before, according to SoSoValue data analysed by CoinDesk.[2][9] The funds were still up about $1.01 billion for 2026 on October 29; they are now $1.56 billion in the red for the year.[2] BlackRock's iShares Bitcoin Trust (IBIT) alone lost $269.7 million on November 11.[4] When ETF shares are redeemed, the fund sells bitcoin, which adds steady selling pressure.[3]
5. A new Iran claim overnight
Iran's Islamic Revolutionary Guard Corps said its Aerospace Force "targeted and destroyed" a US early-warning radar in Bahrain, calling it a response to an air attack on a telecommunications tower in the southern port city of Sirik.[7][8] There was no immediate confirmation from Bahrain or the United States.[7] CoinDesk cited this renewed escalation as a trigger for the overnight sell-off, while US oil prices barely moved.[3] The day before, President Trump said the US did not need a deal with Iran, which helped push yields up.[6][10]
See also: Iran war latest and what it means for bitcoin, gold and oil.
What else weighed on crypto this month
The slide did not start on Friday. Crypto prices fell to two-month lows after the US midterm elections on November 8, Reuters reported.[13] Cointelegraph listed the fallout from the Binance hack, uncertainty after the midterms and a sell-off in technology stocks as reasons for the outflow week to November 6, and said investors were reassessing whether Congress can pass the CLARITY Act, a crypto market structure bill, before the end of the year.[9]
On Thursday, the resignation of Nvidia chief executive Jensen Huang hit technology shares and pushed bitcoin below $72,000.[3] A metals trader quoted by Reuters said Huang's exit may have touched gold only "in some ancillary fashion", through general market volatility.[10]
See also: Jensen Huang resigns as Nvidia CEO and Binance hack explained.
How liquidations make falls faster
A liquidation is the forced closing of a trade that was made with borrowed money. If a trader bets on a higher price with ten times leverage, a fall of just under 10% wipes out the stake, and the exchange sells automatically.[3] That sale pushes the price lower, which reaches the next group of leveraged bets, and the chain continues.[3]
Market data firm Talos said in its weekly report that bitcoin order-book depth on Binance, Kraken and Coinbase was about 33% below normal on November 9, while open interest in bitcoin perpetual futures stayed near its highs.[2] "Liquidity remains thin while leverage stays elevated, leaving the market vulnerable to sharp moves in either direction," wrote Talos researcher Tanay Ved.[2]
Gold is falling too
Bitcoin is not the only asset hit by the rate outlook. Spot gold touched its lowest level since October 2025 on Thursday and was at $3,881.70 an ounce at 1:36 p.m. ET, down 2.7% on the day, according to Reuters.[10] Gold bounced a little on Friday morning. The tokenised gold coin PAX Gold was near $3,885 at 07:28 UTC.[11] The same forces apply: higher rates make non-yielding assets less appealing, and a strong dollar makes gold more expensive for buyers abroad.[10]
Key numbers at a glance
| Measure | Figure | Source |
|---|---|---|
| Bitcoin price (07:28 UTC) | About $69,040, down about 6% in 24 h | CoinGecko[11] |
| Ether price (07:28 UTC) | About $1,943, down about 5% | CoinGecko[11] |
| Liquidations, 24 h | $1.3 billion+ ($677 million bitcoin) | CoinGlass via CoinDesk[2][3] |
| Spot bitcoin ETF flows, Nov 9 to 12 | -$643.6 million | SoSoValue via CoinDesk[2] |
| Spot bitcoin ETF flows, 2026 so far | -$1.56 billion | SoSoValue via CoinDesk[2] |
| US 2-year yield, two sessions | +34 basis points | Reuters[6] |
| Odds of a 50 bp Fed hike in December | 14.5% (0% a week ago) | CME FedWatch via Reuters[6] |
| Crypto Fear & Greed Index | 20, Extreme Fear | alternative.me[12] |
| 200-day moving average | Near $73,100 | Mudrex via Bitbo[2] |
Update: US producer prices (PPI) and the bitcoin reaction
The US Bureau of Labor Statistics published its Producer Price Index for October at 8:30 a.m. ET (13:30 GMT) on Friday. The index for final demand rose 0.3% in the month, after a 1.4% jump in September (revised up from 1.3%). Compared with a year earlier, producer prices were up 6.5%, the biggest 12-month rise since November 2022.[15]
That was a touch softer than expected. Newsquawk's preview had the forecast at 0.4% on the month and 6.6% on the year, and the crypto site Bitcoin Sistemi listed the same expectations next to the actual 0.3% and 6.5%.[16][17] Bloomingbit's headline put it simply: the October PPI "misses forecasts".[18]
| Measure | Actual | Forecast | Previous |
|---|---|---|---|
| Final demand, month on month | +0.3% | +0.4% | +1.4% (Sep, revised) |
| Final demand, year on year | 6.5% | 6.6% | 6.3% (Sep) |
| Less foods, energy and trade, m/m | +0.5% | n/a | +0.5% |
| Less foods, energy and trade, y/y | 4.9% | n/a | 5.0% |
| Final demand goods, m/m | +0.5% | n/a | +2.5% |
Sources for the table: BLS for actual and previous figures; Newsquawk and Bitcoin Sistemi for the forecasts.[15][16][17]
What it means for bitcoin. A cooler number takes a little pressure off the idea that the Fed must raise rates hard in December, which is one of the things that pushed bond yields up and bitcoin down this week.[6][17] The first move was small. CoinGecko data shows bitcoin at about $69,165 at 13:25 UTC and about $69,630 at 13:32 UTC, a rise of under 1%, which left it still below $70,000 and well above the day's low of about $68,060 at 06:00 UTC.[11] The details were not all soft: goods prices rose 0.5% and prices excluding food, energy and trade services also rose 0.5%, so inflation at the producer level is still running hot over 12 months.[15]
One data point rarely sets the trend. The bigger drivers in this sell-off, ETF outflows and forced selling of leveraged bets, have not gone away.[2][3] Not financial advice.
What to watch next
- US producer prices (PPI) came out on Friday, November 13, at 13:30 GMT: +0.3% on the month, slightly below the 0.4% forecast (see the update above).[15][16][3][10]
- ETF flows. Figures for Thursday, November 12, were not complete on Friday morning.[3] A turn back to inflows would ease one source of selling.[2]
- Fed speakers next week, ahead of the December meeting, could move the odds of a 50 basis point hike.[6]
- Iran. Any US response to the Bahrain radar claim could hit risk assets again.[7][8]
This page does not forecast prices. Crypto can swing sharply in both directions, as Talos noted, and leveraged trading can wipe out a stake quickly.[2][3] Not financial advice.
Live prices and our daily notes on bitcoin, ether, gold and the Pakistani rupee are on the Live Markets page.
Frequently asked questions
Why is bitcoin falling today?
Bitcoin fell below $70,000 on November 13, 2026, because of forced selling of leveraged bets ($1.3 billion+ liquidated), a jump in US bond yields on Fed rate hike bets, continued outflows from US bitcoin ETFs and an Iranian claim of a strike on a US radar in Bahrain.[2][3][5][6][7]
What did the US PPI report say on November 13?
Producer prices rose 0.3% in October, below the 0.4% forecast, and were up 6.5% from a year earlier, the biggest annual rise since November 2022.[15][16][17]
How did bitcoin react to the PPI data?
It edged up, from about $69,165 at 13:25 UTC to about $69,630 at 13:32 UTC, but stayed below $70,000.[11]
When was bitcoin last below $70,000?
August 19, 2026, according to CoinDesk and Bitbo. Some data from the exchange Binance points to August 20, a difference caused by measuring at different times.[1][2][3]
How much was liquidated in the crypto crash?
More than $1.3 billion in 24 hours, including $677 million of bitcoin positions, according to CoinGlass data.[2][3]
How far is bitcoin from its record high?
About 45% below its record of around $126,000, set in October 2025.[3]
Are bitcoin ETFs still seeing outflows?
Yes. US spot bitcoin ETFs lost $643.6 million from November 9 to November 12 and are now down $1.56 billion for 2026.[2]
Is gold falling too?
Yes. Spot gold hit its lowest level since October 2025 on Thursday, November 12, as yields and the dollar rose.[10]
References
- "BTC news: Prices slip below $70K, triggering $1.2 billion in liquidations", CoinDesk, 13 November 2026.
- "Bitcoin Sinks Below $70K as ETFs Slip Into Red for the Year", Bitbo, 13 November 2026.
- "Bitcoin price falls below $70,000 as $1.3 billion in leveraged bets are wiped out", CryptoTicker, 13 November 2026.
- "Bitcoin Drops Below $70,000, May Log Sixth Straight Weekly Loss", TradingKey, 13 November 2026.
- "Bitcoin Slips Below $70,000 as Higher Yields Weigh on Crypto", Bloomberg, 13 November 2026.
- "Dollar near 19-month high on Fed hike bets, yen tests 160", Reuters via Free Malaysia Today, 13 November 2026.
- "Iran's Guards Say They Targeted US Radar System in Bahrain", Asharq Al-Awsat, 13 November 2026.
- "Iran says it targeted US radar site in Bahrain", Al Jazeera, 13 November 2026.
- "Bitcoin ETFs shed $1.3B in biggest weekly outflow since late June", Cointelegraph via TradingView, 9 November 2026.
- "Gold drops to over one-year low as fading Middle East peace hopes fan inflation fears", Reuters via CNBC, 12 November 2026.
- Bitcoin, Ether and PAX Gold price data (API, daily and live), CoinGecko, retrieved 13 November 2026, 07:28 UTC and 13:34 UTC.
- "Crypto Fear & Greed Index", alternative.me, retrieved 13 November 2026.
- "Cryptocurrencies slide to two-month lows after US midterms", Reuters, 8 November 2026.
- "The 2-Year Treasury Yield Just Had Its Biggest Jump in 19 Months", 24/7 Wall St., 11 November 2026.
- "Producer Price Indexes - October 2026", US Bureau of Labor Statistics, 13 November 2026.
- "PREVIEW - US October PPI data will be released at 13:30GMT/08:30EST", Newsquawk, 13 November 2026.
- "US PPI Data Released! Here's Bitcoin's (BTC) Initial Reaction", Elif Azra Güven, Bitcoin Sistemi, 13 November 2026.
- "US October PPI Rises 0.3% From Previous Month, Misses Forecasts", Uk Jin, bloomingbit, 13 November 2026.