The cryptocurrency market experienced a sharp sell-off, with approximately $60 billion wiped from its total market capitalization in just four hours as Bitcoin fell below the $70,000 threshold to its lowest level in three months. The downturn was accompanied by more than $500 million in cryptocurrency liquidations within a single hour, underscoring the speed and scale of the decline.

The figures were shared by Coin Bureau on X, where the account reported that the rapid contraction in the total crypto market capitalization coincided with Bitcoin's latest price decline. The data points to substantial selling pressure across the digital asset market, although the post did not identify a specific catalyst behind the move.

Bitcoin Drops to Three-Month Low

Bitcoin, the largest cryptocurrency by market capitalization, fell below $70,000, reaching its lowest price level in three months. The decline carries significance for the broader cryptocurrency market, as Bitcoin remains a key reference point for overall digital asset performance. The $70,000 mark is also a round-number level that traders and market commentators frequently treat as a psychological threshold, and price behavior around such levels is often closely monitored.

The breach of the $70,000 level came during a period of accelerated losses. According to Coin Bureau, approximately $60 billion disappeared from the combined market value of cryptocurrencies over the preceding four hours, reflecting the pace at which the sector's aggregate valuation contracted.

The reported figures do not establish whether the decline was driven by an economic announcement, a regulatory development, institutional trading activity, or another market catalyst. No specific explanation for Bitcoin's fall was provided in the original report, leaving the timing and trigger of the sell-off open to clarification in subsequent market data and reporting.

Crypto Liquidations Exceed $500 Million in One Hour

A second defining feature of the sell-off was the sharp rise in liquidations. More than $500 million in positions were liquidated across the crypto market within a single hour, according to Coin Bureau.

Liquidations occur when leveraged trading positions are automatically closed after traders fail to maintain the required margin. During periods of rapid price declines, falling asset values can trigger forced closures of leveraged positions — most directly the long positions that bet on higher prices — potentially adding further selling pressure to an already volatile market.

The reported liquidation figure indicates the scale of trading positions affected during the downturn. However, Coin Bureau's post did not provide a breakdown of the closed positions, including amounts attributed to long and short trades or the exchanges involved — details that market participants typically use to assess which side of the derivatives market absorbed the losses.

Taken together — the $60 billion reduction in total market capitalization over four hours, Bitcoin's slide below $70,000 to a three-month low, and more than $500 million in liquidations within one hour — the data outlines the scope of the market decline reported by Coin Bureau. Data points that could sharpen the picture in follow-up coverage include a confirmed catalyst for the move, a long/short breakdown of the liquidations, and whether Bitcoin's price holds near the recently breached level.

Source: Hokanews, November 13, 2026. Figures per Coin Bureau on X. Reporting by Victoria Hale, Technology & Blockchain Writer.