Bitcoin Liquidation: $1.6B Cascade Sends BTC Below $70,000

Bitcoin liquidation reports on November 13 put the 24-hour total at $1.65 billion, after BTC fell below $70,000. U.Today reported that figure, while an earlier market snapshot from The Block showed a smaller total. The reports reflect different snapshots.

What we know about the Bitcoin liquidation

U.Today reported at 08:45 UTC on November 13 that Bitcoin had fallen roughly 9% since November 11 and touched $67,449. It said BTC had broken below $70,000 for the first time since August. CoinGlass data cited by the outlet counted 187,171 traders liquidated across exchanges in the preceding 24 hours.

Long positions accounted for $1.46 billion of the reported $1.65 billion total, against $183 million in short liquidations. Bitcoin represented $918.6 million of the losses, and 95.4% of those BTC liquidations were longs. The largest single liquidation in the report was a $31 million BTC-USD long on Hyperliquid.

U.Today reported that futures CVD fell by $5.7 billion and spot CVD fell by $438 million. The outlet described activity in both markets, but those figures do not establish why traders acted.

What is still unclear

The snapshots do not match exactly. The Block reported an earlier November 13 reading of $68,408 for BTC, down 7% in 24 hours, and $1.47 billion in crypto liquidations. It counted 175,299 traders, including $1.31 billion in liquidated longs. U.Today’s later $1.65 billion estimate and 187,171 traders reflect a different reported snapshot, not necessarily a contradiction.

Price lows also vary by source and measurement window. U.Today cited $67,449, while CoinGecko’s 10:13 UTC data listed a 24-hour low of $67,922. The figures are readings reported by different sources and should not be treated as a universal exchange price.

Nor is the precise cause settled. A liquidation cascade describes how losses can accelerate after prices move through key levels, but it cannot by itself explain the initial selling. U.Today identified $64,000 as a possible support area; the report does not establish that price level as a floor.

How markets and analysts reacted

Bitcoin liquidation pressure met a wider risk-off mood

Rick Maeda, Laevitas’ head of markets, told The Block that BTC’s break below $70,000 forced out long positions clustered beneath that level. He described more than $600 million in liquidations over four hours and over $1.3 billion in a day. His account supports the leverage-unwind explanation, while the differing totals underline how quickly estimates can change.

The decline coincided with developments beyond crypto. NVIDIA announced on November 12 that Jensen Huang had resigned as president, CEO and board member, effective immediately, with CFO Colette Kress serving as interim CEO. On November 8, the company said its board was opening an independent investigation following reports that Huang had been targeted by a foreign intelligence effort. NVIDIA’s announcement confirms the leadership change, but the supplied reporting does not show that it directly triggered Bitcoin’s fall.

Other reported data included inflation and fund flows. The U.S. Bureau of Labor Statistics reported October consumer prices rose 0.4% month over month and core CPI rose 0.3%; year-over-year comparisons were unavailable because October 2025 data were missing. Farside Investors recorded $299.8 million in net outflows from U.S. spot Bitcoin ETFs on November 11. The Block had earlier reported $1.28 billion in weekly outflows through November 6.

ViaBTC chief analyst Jeff Ko told The Block that persistent inflation could support Bitcoin’s longer-term inflation-hedge narrative. That’s a view about a possible longer-run role, not an explanation for the day’s price action. The Crypto Fear & Greed Index stood at 20, classified as Extreme Fear, on November 13.

Other major tokens were also lower at 10:13 UTC, according to CoinGecko: Ether was down 4.28% over 24 hours, BNB 4.74%, XRP 2.38% and Solana 3.06%. The fall was therefore not limited to BTC.

What it means for investors

What to watch after the Bitcoin liquidation wave

Questions raised by the reported figures include whether BTC will recover above $70,000, whether spot-market selling will continue, and whether ETF outflows will persist. The $64,000 level cited by U.Today may draw attention as a chart reference, but market levels can fail and price volatility remains high. The outlet also noted that Bitcoin’s relative strength index was approaching 30, near a commonly watched oversold threshold; that reading alone does not establish that a rebound is due.

The supplied reports do not resolve how Bitcoin will trade next. Readers assessing the event should distinguish reported measurements from interpretations of what caused it. U.Today and The Block reported different liquidation totals from different snapshots. This article is informational, not personal financial advice.

Bottom line

Bitcoin’s slide below $70,000 coincided with a large, long-heavy liquidation wave and weakness across other major tokens. Different reporting snapshots put the liquidation total between $1.47 billion and $1.65 billion, while the cause and durability of the move remain uncertain.

Sources

• NVIDIA Announces CEO Transition (investor.nvidia.com)
• Bitcoin (BTC) Prints 'End of the World' Candle: $1.6 Billion Liquidation Triggers Drop (U.Today)
• Bitcoin (BTC) Prints 'End of the World' Candle: $1.6 Billion Liquidation Triggers Drop (u.today)

This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrencies are highly volatile; always do your own research before investing.