Bitcoin fell below $70,000 on Friday touching a three-month low as traders were forced to sell positions after interest rate expectations rose and technology stocks fell.
Bitcoin Prices Fall as Liquidations Hit $1.640 Billion
- Bitcoin slipped to approximately $68,000, losing nearly 5% in 24 hours and over 8% across the week, reaching valuations not seen since August 19, 2026, according to Ambito.
- CoinGlass data cited by Ambito shows total liquidations hit $1.640 billion over a 24-hour window, with long positions accounting for unsupported amounts of the total.
- Institutional exchange-traded funds saw substantial outflows, adding to the downward pressure driven by Federal Reserve policy outlooks and technology sector declines.
Leverage Unwinding Triggers Market Liquidations
The downward slide accelerated when Bitcoin broke through key psychological supports during the Asian trading session. Rick Maeda, markets head at Laevitas, told Ambito that the severe decline stemmed from liquidations following Bitcoin's breach of key technical thresholds. “The sharp drop in cryptocurrencies appears to respond to an episode of liquidations triggered by leverage, after BTC broke key levels,” Maeda said.
Maeda explained that Bitcoin had already lost the $72,000 mark during the US session before breaking $70,000 late in the Asian morning, which quickly wiped out concentrated long positions sitting just underneath that barrier. Technical analysts at Bolsamanía had previously warned that surrendering the $72,000 threshold could drag the leading cryptocurrency down toward the $67,000 region, according to Ambito’s reporting.
By November 13, 2026, trading platforms such as the Lemon digital wallet recorded Bitcoin changing hands at $69,126, while Ethereum (ETH) hovered near $1,900 after dropping 3.97% in a single day, as reported by La Nación. Ether accumulated a weekly decline exceeding 8%, dragging alternative digital assets lower alongside the broader market contraction.
Nvidia Leadership Changes Drive Technology Sector Pressure
The cryptocurrency sell-out unfolded alongside a broader risk-off environment driven by equity markets and monetary policy shifts. Technology shares experienced intense pressure following the departure of Jensen Huang as CEO of Nvidia amidst executive controversy, leading Colette Kress to step in as interim chief executive while the board conducts a search for a permanent successor.
Michael Landsberg, chief investment officer at Landsberg Bennett Private Wealth Management, told Ambito that Nvidia stock faces sustained downside pressure as the market recalibrates the unique weight of Huang’s leadership. This tech sector correction weighed heavily on risk assets, mirroring historical correlations between high-growth equities and digital currencies.
Simultaneously, macroeconomic indicators reinforced expectations that the Federal Reserve will implement another 25-basis-point interest rate increase at the close of the year. Federal Reserve Governor Christopher Waller warned that core inflation readings near 0.3% could push the central bank to consider a more aggressive 50-basis-point adjustment to protect institutional credibility.
Institutional Outflows Compound ETF Pressures
The digital asset ecosystem also absorbed heavy outflows from spot exchange-traded funds as institutional investors adopted a cautious posture. Data from SoSoValue cited by Ambito revealed that these investment vehicles accumulated net negative flows across 2026.
After holding net inflows of approximately $1.010 billion for the year as of October 29, 2026, the funds suffered a sharp reversal on October 30 with net withdrawals of $643.3 million in a single trading session. Additional weekly outflows compounded the trend, marking the twelfth week in 2026 where net withdrawals surpassed the $500 million threshold.
“If the Fed hikes rates by 50 basis points instead of the 25 basis points currently expected, Bitcoin and other cryptocurrencies could have even more room to fall,” warned Jeff Mei, chief operating officer at BTSE, in reporting covered by Ambito.
