Bitcoin Price Drop: Why BTC Fell Below $70,000 (Nov 2026)

Why is bitcoin down today?

According to CoinDesk and Investing.com, bitcoin is down because traders expect the US Federal Reserve to raise interest rates in December, the dollar is at a 19-month high, money keeps leaving bitcoin ETFs, and the fall below $70,000 set off forced selling of leveraged bets ^[1][2][3].

The price slid to about $69,000 early on Friday 13 November, the lowest level since 19 August, according to CoinDesk data ^[1]. Investing.com reported a 6% fall to $69,244 at 07:11 GMT (02:11 ET), the first move below $70,000 since mid-August ^[2]. FXStreet noted that the drop followed a fall of more than 3% on Thursday and that a bearish weekly close could mark a sixth consecutive weekly loss ^[3].

No single headline caused the sell-off. Several pressures arrived in the same week:

• Hotter US inflation: October consumer prices rose faster than expected, and markets now price a December rate hike ^[1][2][4].
• A stronger dollar: the Dollar Index traded above 103, its highest since April 2025 ^[1].
• ETF outflows: US spot bitcoin funds lost money for five sessions in a row ^[5][6].
• Liquidations: more than $1.3 billion of crypto futures positions were liquidated in 24 hours, according to Coinglass data cited by CoinDesk ^[1].
• Index changes: MSCI's November index review removes Strategy from its indexes after the close on 30 November, CoinDesk reported ^[8].

Investing.com also pointed to caution about the US regulatory outlook after Democrats won majorities in both chambers of Congress, noting that several prominent Democrats have called for tighter anti-money-laundering rules for crypto ^[2]. That effect is harder to measure than the others.

How far has bitcoin fallen?

At 04:30 UTC on 13 November 2026 bitcoin traded at about $68,861 on Coinbase, roughly 6.5% lower than 24 hours earlier and about 45% below its record high of $126,198 set on 6 October 2025 ^[9][11].

The drop has built up over weeks rather than in one day. Bitcoin's highest price in October 2026 was about $87,150 on 2 October, and the month ended near $77,430 ^[12]. CoinDesk said prices have fallen about 17% this quarter ^[1], while FXStreet put the correction over the last six weeks at roughly 20% ^[3].

On the morning of 12 November in India, Moneycontrol reported bitcoin near $73,738, already down 8.29% over seven days ^[4]. By early Friday it was trading at about $69,000 ^[1].

Prices differ slightly between exchanges and data providers, because each one averages trades from different markets. Use the figures below as reference points with their time stamps, not as live quotes.

Why do Fed rate hike bets hurt bitcoin?

Higher interest rates make safe assets such as government bonds pay more, which draws money away from assets that pay no interest, such as bitcoin ^[2].

The US consumer price index for October came in hotter than expected this week ^[1][4]. After the data, CME FedWatch showed markets pricing a hike of between 25 and 50 basis points at the Fed's December meeting, Investing.com reported ^[2]. CoinDesk said the odds of a half-point rise had increased ^[1]. The Fed's next scheduled meeting is on 8-9 December 2026 ^[10].

Rate expectations also push the dollar higher. The Dollar Index, which compares the dollar with a basket of major currencies, has risen nearly 2% since early October ^[1]. CoinDesk described the stronger dollar as a headwind for liquidity-sensitive risk assets such as crypto ^[1].

Investing.com noted that bitcoin has historically done poorly when rates are high, because higher rates limit market liquidity and draw capital toward safer assets such as government debt ^[2]. That is a historical pattern, not a rule.

For background on how the Fed sets rates, see the Pouyam guide Fed Rate Decision Explained: What the October 2026 Hold Means for Loans and Savings.

Why do bitcoin ETF outflows matter?

Spot bitcoin ETFs hold real bitcoin, so when investors pull money out, the funds usually have fewer coins to hold and one steady source of buying shrinks ^[6].

US spot bitcoin ETFs recorded net outflows on five trading days in a row up to 11 November, about $1.44 billion in total, according to Farside Investors data reported by BeInCrypto ^[5][6]. On 11 November alone, $299.8 million left the funds ^[5][6].

Most of the money came out of one fund. BlackRock's iShares Bitcoin Trust (IBIT) lost $269.7 million on 11 November, while Grayscale's GBTC lost $39.1 million and Morgan Stanley's MSBT took in $9.0 million ^[5][6]. BeInCrypto noted that these are client redemptions, not BlackRock selling its own bitcoin ^[6].

Moneycontrol also cited $95 million of outflows on 10 November ^[4], and FXStreet said the fifth day of withdrawals was close to $300 million ^[3]. Since launch in 2024, the funds still show about $55 billion of net inflows, according to Farside's running total ^[5]. The recent selling is large in dollar terms but small next to that base.

If you want to know how these funds work, see the Pouyam guide Index Funds and ETFs Explained: How S&P 500 and Nasdaq-100 Funds Work.

What are crypto liquidations and why did they speed up the fall?

A liquidation happens when an exchange forcibly closes a borrowed (leveraged) bet because the trader's losses have used up their margin; those forced sales push prices lower still ^[1].

Exchanges liquidated more than $1.3 billion of crypto futures positions in 24 hours, including $677 million in bitcoin, according to Coinglass data cited by CoinDesk ^[1]. Nearly $500 million of that happened right as bitcoin fell below $70,000 ^[1].

The largest single liquidation was a bullish bitcoin position worth more than $31 million on the trading platform Hyperliquid ^[1]. CoinDesk said the forced sales came from exchanges closing leveraged long positions whose collateral fell short after the drop ^[1].

A break below a widely watched level such as $70,000 can set off a chain of forced selling, as the liquidation figures above show ^[1]. FXStreet's technical analysis also noted that bitcoin was trading below its 50-day and 200-day exponential moving averages ^[3]. Technical levels describe past trading, and they do not predict where the price will go.

What does MSCI dropping Strategy mean for bitcoin?

MSCI will remove Strategy, the largest listed company holder of bitcoin, from its global indexes after the close on 30 November 2026, CoinDesk reported; this does not force Strategy to sell bitcoin, but it may make it harder for the company to raise money to buy more ^[2][7][8].

On 15 October 2026, MSCI said companies that look more like investment funds than operating businesses would no longer qualify for its Global Investable Market Indexes ^[7]. The final list came out on 11 November ^[7]. CoinDesk reported that Strategy is being removed from the MSCI USA Index and other indexes, and Japan's Metaplanet from the MSCI Japan Small Cap Index ^[8].

Funds that track MSCI indexes generally sell shares of companies that are removed; BloFin Research estimated that this would mean selling about 13 million Strategy shares, roughly 3.1% of shares outstanding ^[8]. CoinDesk noted that the exclusion does not delist the stock and does not require Strategy to sell its coins; the company held 850,364 BTC at the time of writing on 12 November ^[8]. Strategy has funded its purchases with convertible notes, preferred stock and common share sales, so weaker demand for its stock could slow its buying ^[8].

Investing.com said the move does not present immediate selling risks for bitcoin but limits Strategy's ability to raise new capital, and added that it could push Strategy into selling more of its holdings ^[2]. Markus Thielen of 10x Research told CoinDesk the outcome had been widely expected and was mostly priced in, while Derin Olenik disagreed, arguing it would hurt the institutional adoption narrative ^[8].

What should bitcoin holders do after the drop?

Nobody can say whether bitcoin will fall further or recover soon, so the most useful steps are to check your risk, avoid panic decisions, and watch out for scams that follow big price moves ^[3][4].

1. Check your exposure. Work out what share of your savings is in crypto and whether you could cope with a further fall. Bitcoin is about 45% below its record high ^[9][11].
2. Avoid borrowed money. The liquidations this week show how fast leveraged positions can be wiped out ^[1]. One analyst quoted by Moneycontrol advised keeping leverage low ^[4].
3. Do not sell or buy in a rush. Prices move every minute; decide based on your own plan and time frame, not a single day.
4. Use the time stamp. When you read a price, check when it was taken and on which exchange ^[9].
5. Watch for scams. Fake "recovery" services and guaranteed-profit schemes often appear after sharp drops. The Pouyam guide What Is a Crypto Airdrop? Spot Fake Claims Before Connecting a Wallet explains common traps.

In some countries crypto is lightly regulated. Moneycontrol noted, for example, that the Reserve Bank of India says crypto products are not regulated in India and investors may have limited or no recourse after losses ^[4]. This guide is general information, not investment advice.

What should you watch next for the bitcoin price?

The main scheduled event is the Federal Reserve's 8-9 December 2026 meeting, because rate expectations are one of the main pressures cited this month ^[1][2][10].

• US data: Moneycontrol said markets were watching the next US producer price index release for more inflation signals ^[4].
• ETF flows: a turn back to daily inflows at the large funds would show institutional demand returning; Farside publishes the numbers each trading day ^[5].
• 30 November: the MSCI index changes take effect after the close ^[7][8].
• The dollar: the Dollar Index above 103 has been a headwind ^[1].
• Leverage: large liquidation waves can make moves sharper in both directions ^[1].

For a longer explanation of what drives the price in general, see the Pouyam guide What Is Bitcoin? Mining, Halvings and the Forces Behind Its Price.