Bitcoin Falls Below $70,000 as Crypto Liquidations Surpass $1 Billion
Key Takeaways
- •Bitcoin fell below $70,000 on November 13, 2026, extending its quarterly loss to 17% as a stronger U.S. dollar, Middle East tensions, and persistent selling pressure drove the market lower.
- •The sell-off triggered more than $1.3 billion in crypto futures liquidations over 24 hours, with Bitcoin accounting for roughly $677 million, including nearly $500 million at the break below $70,000.
- •The U.S. Dollar Index rose above 103, its highest level since April 2025, as expectations of additional Federal Reserve interest rate increases made dollar-based assets like Treasury bills more competitive with cryptocurrencies.
- •Other major tokens declined alongside Bitcoin, with Ethereum slipping below $2,000, Solana dropping under $80, and XRP trading near $1.
- •Continued withdrawals from U.S. spot Bitcoin ETFs indicated weakening institutional demand, with Federal Reserve communications, daily ETF flow reports, and CoinGlass liquidation data identified as key metrics to monitor.
Bitcoin fell below the $70,000 level as a stronger U.S. dollar, geopolitical tensions, and continued selling pressure accelerated the cryptocurrency market downturn, according to a report published by BitcoinKE (BitKE) on November 13, 2026.
13.11.2026 — BitKE (@BitcoinKE) November 13, 2026
The decline pushed Bitcoin down 17% in Q3 2026, reversing much of its gains over the previous three months. Ethereum also fell below $2,000, while Solana dropped below $80 and XRP traded near $1.
The sell-off triggered more than $1.3 billion in crypto futures liquidations over 24 hours, according to CoinGlass data. Bitcoin accounted for approximately $677 million of that total, with nearly $500 million in liquidations occurring as BTC broke below the $70,000 mark. Liquidations occur when exchanges forcibly close leveraged positions, locking in losses when the market moves against traders — and because those closures typically involve selling the underlying asset, clusters of liquidations can amplify rapid price moves.
The broader pressure comes as the U.S. Dollar Index climbed above 103, its highest level since April 2025, amid rising expectations of further Federal Reserve interest rate increases. The dollar dynamic matters because Bitcoin and other cryptocurrencies are quoted in U.S. dollars: a stronger dollar raises their cost for buyers holding other currencies, while higher expected interest rates lift yields on dollar-based assets such as Treasury bills, which compete with crypto assets for investor capital.
Meanwhile, renewed military tensions in the Middle East added to investor uncertainty, while continued withdrawals from U.S. spot Bitcoin ETFs pointed to weakening institutional demand. U.S. spot Bitcoin ETFs, which began trading in January 2024, hold Bitcoin directly on behalf of investors and publish daily flow data, so persistent outflows shrink the Bitcoin held by these funds.
Ahead, the observable metrics to track include the Federal Reserve's next policy communications, daily U.S. spot Bitcoin ETF flow reports, and CoinGlass liquidation tallies — the same indicators cited throughout this downturn.
Source: BitcoinKE
