Bitcoin Falls Below $70,000 as $622M in Crypto Liquidations Hit Leveraged Longs
Bitcoin dropped below $70,000 on November 13, 2026, reaching an intraday low of $68,943, with $622 million in crypto liquidations recorded over four hours. Sources attribute the move mainly to forced closures of leveraged long positions and roughly $2 billion in spot Bitcoin ETF outflows over three weeks.
Written by CoinArticle’s AI Newsroom · from 2 cited sources. How we work
The Drop and Its Scale
Bitcoin fell below $70,000 on Friday, touching an intraday low of $68,943 on November 13, 2026, according to Crypto Briefing. Ether traded below $2,000 in the same selloff, CoinDesk reported. Crypto Briefing put the drop at 6% over 24 hours, with Bitcoin later steadying near $69,297, down from above $76,000 earlier in the same week.
CoinGlass data cited by Crypto Briefing showed $622 million in total liquidations over a four-hour window, with $549 million in long positions and $72.46 million in shorts. Over the related 24-hour period, more than 110,000 traders were affected by liquidations, according to the same data.
How the Selloff Accelerated
Bitcoin was already weakening before the break. On November 12 it traded near $70,796, down 4.31% over the prior 24 hours, Crypto Briefing reported. Liquidation intensity maps flagged long positions clustered below $70,000 as especially exposed, and once price reached that zone, forced closures came in bulk.
Those automatic closures sell into a falling market, pushing prices lower and triggering further liquidations. Crypto Briefing described the four-hour window as a chain reaction of this kind.
Where the Losses Landed
The largest single liquidation cited was a $31.09 million long position on Hyperliquid, the decentralized derivatives exchange, triggered near $72,250, before Bitcoin reached $70,000. Ethereum saw roughly $120 million in liquidations and Solana about $23 million, Crypto Briefing reported.
The sources differ on framing. Crypto Briefing attributes the move to deleveraging rather than any change in Bitcoin's underlying fundamentals, and points to risk-off sentiment across markets. CoinDesk's report focuses on the futures-market liquidations and the ether move below $2,000 without offering a separate cause. Neither source provides an independent breakdown of the liquidation totals beyond CoinGlass figures, so the dollar amounts should be read as a single data provider's tally.
Flows and What to Watch
Spot Bitcoin ETFs recorded outflows of around $2 billion over three weeks, a figure Crypto Briefing cites as a sign of hesitation among mainstream investors who drove much of the recent demand. Whether those outflows continue is the first variable to watch, along with how Ethereum and Solana trade relative to Bitcoin as the deleveraging spreads across assets.
Why It Matters
For Traders
Liquidation clusters below $70,000 suggest further forced selling is possible if price retests that zone, so leveraged positions near these levels carry elevated risk.
For Investors
Roughly $2 billion in spot Bitcoin ETF outflows over three weeks signals waning mainstream demand, a trend worth tracking against longer-term flow data.
For Builders
Cascading liquidations on Hyperliquid and other perpetuals venues highlight the importance of liquidation engine design and margin risk parameters under stress.
This article is for information only and is not financial advice. Read the full disclaimer.
