Bitcoin falls below $70,000 as $870 million in bullish bets are liquidated
Summary
Bitcoin fell below $70,000 on Nov. 13, reaching $69,224 after a 24-hour low of $67,921. CoinGlass recorded nearly $870 million in Bitcoin long liquidations versus $31 million in short liquidations, suggesting forced exits amplified pressure on bullish positions; the figures do not establish the initial cause or mean every closure involved spot sales. The decline came amid broader risk aversion, rising Treasury yields and a stronger dollar, while investors weighed Federal Reserve rate concerns and NVIDIA’s leadership change. The article notes no direct link between Microsoft’s service outage and Bitcoin’s drop.
