Bitcoin Falls Below $70,000, Liquidations Reach $1.5 Billion

On November 13, 2026, Bitcoin (BTC) fell below $70,000 for the first time since August. In the morning market snapshot, its price was around $68,600, with a 24-hour decline of 6.7%. Ether (ETH) was trading near $1,900. The drop was accompanied by a massive closure of leveraged positions.

$1.47 Billion in Positions Liquidated in a Day

According to CoinGlass, within 24 hours, $1.47 billion in positions were forcibly closed in the crypto market, including $1.31 billion in long positions betting on a price increase. The liquidations affected over 175,000 traders. The largest single operation amounted to about $31.09 million: on Hyperliquid a long position in BTC was closed near $72,250. This amount reflects the size of the position, not necessarily the personal loss of its owner.

K33 Warned of Increasing Leverage

On November 11, K33's head of research, Vetle Lunde, noted that open interest in perpetual Bitcoin futures had increased by 12% over the month to 353,000 BTC, despite a price drop of about 10%. Over the past two years, a higher level was observed on only 1.2% of trading days. The analyst warned that such a concentration of positions could amplify price movements both downward due to buyer liquidations and upward when closing short positions.

Glassnode Recorded a Liquidity Reduction

According to a Glassnode report dated November 11, the aggregate supply of stablecoins decreased by $14.2 billion over 30 days – the fastest rate since June 2022. On the same date, only about 35% of coins held by short-term BTC holders remained profitable. Analysts highlighted the $62,000–66,000 range, where a significant volume of Bitcoin was previously acquired, as a potential demand area but not guaranteed support.

Meanwhile, Glassnode noted the accumulation of BTC by two groups of addresses with balances of 100–1,000 and 1,000–10,000 coins. Other groups were predominantly reducing their holdings. Such data indicates heterogeneous demand and does not allow for predicting a sustainable price recovery.