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Bitcoin Slides Toward Sixth Weekly Loss as $1.23 Billion in Liquidations Hit Longs

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Bitcoin Slides Toward Sixth Weekly Loss as $1.23 Billion in Liquidations Hit Longs

Key takeaways

  • Bitcoin is on course for a sixth straight weekly decline and is down 21% so far in 2026, according to CoinDesk.
  • Crypto liquidations reached $1.23 billion in 24 hours, with long positions accounting for $1.02 billion, CoinGlass data showed.
  • A cooler-than-expected U.S. producer price reading on Friday did little to lift stocks or crypto ahead of the Fed’s Dec. 9 decision.

Bitcoin slipped below $68,000 on Saturday and is on course for its sixth consecutive weekly loss, CoinDesk reported. The drop has cost leveraged traders $1.23 billion in liquidations over 24 hours, most of it from bets on higher prices.

The losing run matches the streak seen in the first quarter, when bitcoin bottomed near $60,000. The record is nine weeks, set in 2022. Bitcoin is down 11% in November, 17% in the fourth quarter and 21% so far this year, according to CoinDesk.

Long positions made up $1.02 billion, or 82.7%, of the liquidations, CoinGlass data cited by BeInCrypto showed. Bitcoin accounted for $637.24 million and ether for $256.52 million. In all, 163,631 traders were liquidated, and the largest single order was a $17.81 million ether short on Binance.

About $1 billion of that total was wiped out in the first 12 hours of the window. Liquidations have eased since, with $233.07 million over the following 12 hours, BeInCrypto said. Bitcoin is now testing its 200-week simple moving average near $67,922, a level that held in July.

Cooler PPI Fails to Help

Friday’s U.S. inflation data brought little relief. The Producer Price Index rose 0.3% in October and 6.5% from a year earlier, both 0.1 percentage point below forecasts, Cointelegraph reported. The annual rise was still the largest since November 2022.

Traders trimmed bets on a half-point Federal Reserve hike. The odds of a 25-basis-point increase in December rose to 89.7% from 85.4%, while the odds of a 50-basis-point move fell to 10.3%, according to CME Group’s FedWatch tool. The S&P 500 was still down 1.2% after the open.

Other pressures remain. Investors are weighing Anthropic’s planned listing, which aims to raise up to $64.4 billion and has drawn orders for about six times the shares on offer, CoinDesk said, citing Bloomberg. Markets are also still digesting Jensen Huang’s exit as Nvidia CEO.

“This Weekly Candle looks set to do something similar. Which is testament to sell-side momentum still gaining and the bears being in control,” analyst Rekt Capital wrote on X, as quoted by Cointelegraph. He noted that after two earlier breakdowns this year, bitcoin fell to around $60,000.

The slide extends Friday’s move, when bitcoin first fell below $70,000. The Crypto Fear & Greed Index stood at 13, or “Extreme Fear,” on Saturday, according to Alternative.me.

As of 07:04 UTC on Nov. 14, bitcoin traded at $67,323, down 2.57% in 24 hours, with a market value of about $1.35 trillion, according to CoinGecko. Ether was at $1,903. Traders are now watching Sunday’s weekly close, MSCI’s Nov. 30 index changes and the Fed’s Dec. 9 decision.

Bitcoin

Bitcoin ETFs Shed $2.35 Billion in Two Weeks as BlackRock Outflows Hit 11 Days

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Bitcoin ETFs Shed $2.35 Billion in Two Weeks as BlackRock Outflows Hit 11 Days

Key takeaways

  • U.S. spot bitcoin ETFs posted $1.07 billion in net outflows from Nov. 9 to Nov. 13, after $1.28 billion the previous week, Farside data shows.
  • BlackRock’s IBIT lost $143.5 million on Friday, its 11th straight session of outflows, and $908.4 million over the week.
  • Spot ether ETFs lost about $399 million over the week but ended Friday with a small $2.3 million net inflow.

U.S. spot bitcoin exchange-traded funds lost $2.35 billion over two straight weeks, with more than $1 billion leaving in each, Cointelegraph reported on Saturday, citing Farside Investors data. BlackRock’s iShares Bitcoin Trust (IBIT) extended its outflow streak to 11 sessions.

The funds shed $1.07 billion between Nov. 9 and Nov. 13, following $1.28 billion the week before, the largest weekly redemptions since late June. Friday’s net outflow was $185.4 million, down from $284.1 million on Thursday and $299.8 million on Wednesday, according to Farside’s bitcoin ETF table.

IBIT accounted for $143.5 million of Friday’s withdrawals, while Fidelity’s Wise Origin Bitcoin Fund (FBTC) lost $41.9 million. No other fund recorded a move that day. Friday was the seventh straight session of net outflows for the group, which lost about $1.91 billion over those seven days, by CoinReporter’s tally of the Farside figures.

IBIT Carries Most of the Selling

BlackRock’s fund has posted outflows every trading day since Oct. 30. It lost $908.4 million this week after about $1.21 billion the week before, Cointelegraph said. Its November outflows have reached $2.12 billion, roughly 90% of the net withdrawals across all U.S. spot bitcoin ETFs this month.

There was one small exception. Morgan Stanley’s MSBT took in $54.4 million over the week, Farside data shows, including $22.1 million on Monday. Grayscale’s GBTC lost $39.1 million on Wednesday, and Fidelity, Bitwise and ARK funds also recorded outflows during the week.

The run began at the end of October. The funds took in $110.3 million, $176.0 million, $137.3 million and $17.2 million on Oct. 26 to Oct. 29, before $643.2 million left on Oct. 30, Farside’s table shows. IBIT, with about $56 billion in net assets, is the largest spot bitcoin ETF, Cointelegraph has reported.

The selling has continued since CoinReporter reported the $1.28 billion outflow week in early November and the five-day losing run that followed. The latest withdrawals came as bitcoin fell below $70,000 on Friday.

Ether funds were also weak. U.S. spot ether ETFs lost about $399 million over the week, led by $184.6 million on Monday and $144.8 million on Wednesday, Farside’s ether ETF data shows. Friday ended with a $2.3 million net inflow, as $11.6 million into Fidelity’s FETH outweighed $9.3 million leaving Grayscale’s mini ether fund.

The outflows leave the funds without fresh buying as bitcoin tests its lows. As of 07:04 UTC on Nov. 14, bitcoin traded at $67,323, down 2.57% in 24 hours, according to CoinGecko. Monday’s session will be the next test of whether the outflow streak continues.

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