Bitcoin faced a sharp wave of liquidations totaling $1.65 billion within 24 hours on November 13, following a significant drop below the $70,000 level. Most of these liquidations were linked to long positions, signaling increased risk in highly leveraged markets.
Large-scale liquidations and price volatility
Data provided by U.Today indicated that Bitcoin declined nearly 9% between November 11 and November 13, reaching a low of $67,449, its lowest point since August. CoinGlass data highlighted that 187,171 traders had positions liquidated across exchanges in this period.
Of the total $1.65 billion liquidated, long positions accounted for $1.46 billion, compared to $183 million from short positions. Bitcoin’s share of the losses reached $918.6 million, with 95.4% of the liquidated BTC positions being longs. The single largest liquidation recorded was a $31 million BTC-USD long position on the Hyperliquid platform.
Futures cumulative volume delta (CVD) dropped by $5.7 billion, while spot CVD decreased by $438 million during the sell-off, according to data cited by U.Today. However, the figures did not point to a definite trigger for the sharp decline.
| Market snapshot | Reported reading | Source and time |
|---|---|---|
| BTC price | $69,392 | CoinGecko, November 13, 2026, 10:13 UTC |
| BTC 24-hour change | -5.39% | CoinGecko, November 13, 2026, 10:13 UTC |
| BTC 24-hour range | $67,922 to $73,402 | CoinGecko, November 13, 2026, 10:13 UTC |
| Crypto liquidations | $1.65 billion | CoinGlass figures cited by U.Today, November 13 |
Mini dictionary: Hyperliquid is a decentralized derivatives exchange platform that allows users to trade perpetual contracts with on-chain settlement and transparent liquidation mechanisms.
Reporting from The Block noted a slightly earlier reading that put BTC at $68,408 after a 7% 24-hour drop, with $1.47 billion in total crypto liquidations and 175,299 traders affected. The variation in snapshots, however, did not amount to a direct contradiction but showed the effect of timing and data sources.
Unclear triggers and market uncertainty
Price lows varied among data providers. U.Today cited a low of $67,449, while CoinGecko data at 10:13 UTC listed $67,922 as the 24-hour bottom. No single event was clearly identified as initiating the sell-off. Analysts observed that a liquidation cascade—where losses accelerate after prices cut through key levels—may have contributed, but the initial cause was not established. U.Today pointed to $64,000 as a possible support, although its reliability remains uncertain.
In a comment to The Block, Rick Maeda, head of markets at Laevitas, explained that Bitcoin breaking below $70,000 catalyzed mass liquidations, particularly on long positions. Maeda described over $600 million being liquidated in just four hours, reinforcing how leveraged positions intensified the drop.
The break of $70,000 triggered outflows of more than $600 million in a few hours, with over $1.3 billion liquidated in a single day, illustrating the sensitivity of leveraged trades in volatile markets.
Other market drivers and token declines
Bitcoin’s decline did not occur in isolation. CoinGecko reported that at 10:13 UTC, Ether was down 4.28% in 24 hours, BNB 4.74%, XRP 2.38%, and Solana 3.06%. This suggested a broader weakness in major cryptocurrencies rather than a BTC-only move.
Outside the crypto market, NVIDIA disclosed a major leadership change, announcing on November 12 that Jensen Huang had stepped down as president, CEO, and board member, while CFO Colette Kress became interim CEO. An independent investigation was also launched after intelligence concerns, but no direct connection to the Bitcoin price action was established.
Macroeconomic indicators also shaped sentiment. The U.S. Bureau of Labor Statistics reported a 0.4% month-over-month rise in October consumer prices and a 0.3% rise in core CPI. Meanwhile, Farside Investors recorded $299.8 million in net outflows from U.S. spot Bitcoin ETFs on November 11, following previous outflows of $1.28 billion for the week ending November 6.
Jeff Ko, chief analyst at ViaBTC, said persistent inflation could support Bitcoin’s appeal as a hedge in the long run, though that narrative did not explain the day’s volatility. On November 13, the Crypto Fear & Greed Index stood at 20, indicating “Extreme Fear.”
Next steps and investor outlook
Attention has now turned to whether Bitcoin can recover above $70,000 and whether selling pressure will persist in both spot and derivatives markets. The $64,000 area may serve as a reference level for some traders, while Bitcoin’s relative strength index continues moving toward an oversold reading near 30, a level often watched for rebounds but no guarantee of one.
Despite substantial coverage of the liquidation wave, analysts noted the importance of distinguishing between reported figures and interpretations of their causes, as data snapshots showed some variability based on timing and methodology.
The different liquidations reported by U.Today and The Block reflect varying market snapshots, emphasizing the rapid pace and volatility in crypto trading during major moves.
