Bitcoin fell to $61,946 on Coinbase at 01:45 UTC on Sunday 15 November, its lowest price since mid-July, as a wave of forced selling hit a market with thin weekend order books and US spot ETFs closed until Monday. Leveraged traders lost about $2 billion in liquidations over 24 hours, more than 90% of it on long positions, according to The Defiant, citing CoinGlass, and to Cryptoast. The drop did not last: within about an hour and a quarter bitcoin was back above $65,000, and it traded near $64,740 at 05:50 UTC.
The low sits $4,423 under the $66,369 reached in the early hours of Saturday, which Coindaro reported in its Saturday morning market piece. It also landed inside a price band that Glassnode had flagged days earlier as the largest cluster of potential long liquidations on the chart. Ether, solana and XRP all printed their lowest prices in four to twelve months. The Crypto Fear and Greed Index stood at 10 at 05:39 UTC, deep in extreme fear.
Bitcoin price today: from $65,300 to $61,946 in under nine hours
The slide was not one candle. On Coinbase, BTC-USD opened the 17:00 UTC hour on Saturday at about $65,300, already well off the $67,265 high of the 12:00 hour. Sellers then took out a level every hour or two through the evening, with no news attached to any of the steps.
By 22:00 UTC the hourly low was $63,270. The price then held a narrow range for three hours, between roughly $63,300 and $64,500, while Asia opened its Sunday. The break came in the 01:00 UTC hour, which traded between $63,452 and $61,946, and the 1-minute candle of 01:45 UTC carried the low. Bybit’s BTCUSDT perpetual printed a 24-hour low of $61,899.20, according to its public ticker read at 05:41 UTC.
The bounce was almost as fast. The 02:00 UTC hourly candle reached $65,097.65, about $3,150 above the low, and the 03:00 candle went to $65,564.18. At 05:00 UTC, when the 04:00 hourly candle closed, it stood at $64,900.15. At 05:39 UTC bitcoin was down 3.1% over 24 hours and 14.3% over seven days.
| Time (UTC) | BTC-USD on Coinbase | What happened |
|---|---|---|
| Sat 14 Nov, 12:00 hour | high $67,265.39 | Last level above $67,000 |
| Sat 14 Nov, 17:00 | open about $65,300 | Selling already under way |
| Sat 14 Nov, 21:00 hour | low $63,891 | First trade under $64,000 |
| Sat 14 Nov, 22:00 hour | low $63,270 | Saturday’s low, then a three-hour pause |
| Sun 15 Nov, 01:45 | low $61,946.17 | Night low, lowest since 13 July |
| Sun 15 Nov, 02:00 hour | high $65,097.65 | Rebound of about $3,150 |
| Sun 15 Nov, 03:00 hour | high $65,564.18 | High of the rebound |
| Sun 15 Nov, 05:50 | about $64,740 | Latest 1-minute close |
About $2 billion of longs liquidated, depending on the tracker
Every tracker agrees on the shape of the night and differs on the size, because each counts a different window and a different set of exchanges. The Defiant, citing CoinGlass, put liquidations at $2.05 billion, overwhelmingly on longs, with almost $800 million on Binance alone. Cryptoast, in a piece published at 05:30 UTC that does not name its tracker, counted $2.12 billion over 24 hours, of which $1.98 billion, or 93%, were longs, spread across more than 330,000 traders.
TokenPost, writing at 03:12 UTC, gave more than $2 billion and more than 320,000 traders. Cryptoticker, citing TokenPost, said $691 million were wiped out in the single hour in which bitcoin broke below $64,000, $671 million of it on longs. Italy’s Criptovaluta.it, writing on Saturday evening before the night’s low, already counted more than $1.7 billion. Read together, the figures point to a range of about $2.0 to $2.1 billion for the 24 hours to Sunday morning.
CoinGlass’s own rolling table, read at about 05:50 UTC, already shows smaller numbers, because part of Saturday’s selling had dropped out of its 24-hour window by then. It still shows how lopsided the damage was:
| Coin | Longs liquidated (24h) | Shorts liquidated (24h) |
|---|---|---|
| Bitcoin | $595.29 million | $151.07 million |
| Ether | $394.02 million | $72.24 million |
| Solana | $76.80 million | $8.12 million |
| XRP | $44.49 million | $3.97 million |
Cryptoast, pointing to a chart posted on X by an on-chain data account, wrote that the share of longs in bitcoin liquidations was the highest the indicator has recorded. The tracker behind that chart is not named, so the record is best read as one account’s measurement.
This is the second large flush in three days. On 13 November about $1.6 billion of positions were liquidated, 89.5% of them longs, with Binance above 35% of the total, Crypto Briefing reported. Bitget Wallet analyst Lacie Zhang said then that “$68,000 is the immediate support level, followed by $65,000-$66,000”, and named $62,000 to $63,000 as the next zone. Both levels gave way within 48 hours.
Ether, solana and XRP: XRP bottomed two and a half hours earlier
Ether fell harder than bitcoin. ETH-USD on Coinbase dropped from a high of $1,910.07 in Saturday’s 12:00 UTC hour to $1,709.48 at 01:45 UTC, a fall of 10.5%, and the lowest daily low since 3 July. Cryptoast gives $1,718 for the low on another venue. It stood at $1,812.23 at 05:00 UTC, and the market snapshot at 05:39 UTC had ether down 4.8% over 24 hours and 18.9% over seven days.
Solana followed the same clock. SOL-USD fell from $75.97 at Saturday midday to $67.37 at 01:45 UTC, an 11.3% drop and its lowest price on Coinbase since 26 June. It was at $70.87 at 05:00 UTC and down 20.4% over the week at 05:39 UTC.
XRP did not wait for the 01:45 flush. It hit $0.8922 on Coinbase at 23:03 UTC on Saturday, about two hours and 40 minutes before the other majors bottomed. The Defiant reported the move as XRP’s lowest price since November 2024, and Coinbase’s daily candles agree: the last day with a lower low was 16 November 2024. The token was back at $0.9724 at 05:00 UTC. Its fall below $1 on Saturday, as its US ETFs turned one year old, is covered in our XRP piece of 14 November.
| Coin (Coinbase) | High, Saturday midday (UTC hour) | Night low (UTC) | Fall | Lowest since |
|---|---|---|---|---|
| BTC | $67,265.39 (12:00 hour) | $61,946.17 (01:45) | -7.9% | 13 July 2026 |
| ETH | $1,910.07 (12:00 hour) | $1,709.48 (01:45) | -10.5% | 3 July 2026 |
| SOL | $75.97 (12:00 hour) | $67.37 (01:45) | -11.3% | 26 June 2026 |
| XRP | $0.9976 (13:00 hour) | $0.8922 (Sat 23:03) | -10.6% | 16 November 2024 |
The total crypto market capitalisation was $2.22 trillion at 05:39 UTC, down 5.8% in 24 hours, with $116.5 billion traded and bitcoin’s dominance at 58.7%.
Funding back near zero after the flush, open interest down about 10%
Once the longs were gone, the premium traders pay to hold them went with them. The funding rate on Binance’s BTCUSDT perpetual was +0.0056% per eight hours at 05:41 UTC, with a mark price of $64,884, according to the exchange’s public data. Bybit’s rate on the same contract was slightly negative at -0.0015%. On OKX the last settled rate was -0.0038% and the current one +0.0007%. These are readings close to zero in both directions: neither side is paying much to hold its bet.
Open interest shows what was cleared out. Cryptoast reported that aggregate bitcoin open interest fell by nearly 10% to about $106 billion, without naming its data source. At 05:41 UTC Bybit held 71,172.8 BTC of open interest on BTCUSDT, about $4.62 billion, after $9.66 billion of 24-hour turnover, and OKX held 33,289 BTC, about $2.16 billion, on its BTC-USDT blockchain, where users swap tokens directly from their own wallets without handing custody of their funds to a company.">swap.
Funding is the fee that longs and shorts in perpetual futures pay each other every few hours to keep the contract price close to spot. When it sits near zero after a large flush, the market has shed most of its excess leverage, which removes one source of forced selling. It says nothing, on its own, about the next direction.
No single trigger: thin weekend books and a known liquidation zone
No hack, exchange outage or official announcement has been tied to the 01:45 UTC drop. The explanations on offer describe a market that was already fragile, with a large smart contract holding reserves of two or more tokens, supplied by users, that a decentralized exchange uses to execute trades automatically at a price set by a formula.">pool of leveraged longs sitting just under the price.
Glassnode had mapped that pool. Its analysis, reported by Bitcoin.com on Saturday evening and dated 11 November by Cryptoast, showed the largest cluster of potential liquidations between $59,500 and $62,600, made up of long positions opened during the August decline. The night’s low of $61,946 is inside that band. Cryptoast’s reading is that the market reached the zone on a Saturday night, with ETFs shut and order books thinner than on a weekday, so a modest wave of selling could push the price into the stop levels.
Coinbase Institutional, quoted by Cryptoast, had named $66,000 to $68,000 as the support to hold; bitcoin traded below $66,000 on Coinbase from 14:26 UTC on Saturday. The same note pointed to a fall of $11.5 billion in the supply of the main stablecoins over 30 days, and to markets pricing about 0.64 percentage points of rate rises over the next 12 months, against 0.37 points in early November. Cryptoticker cited CME FedWatch at 88.5% on Saturday for a quarter-point rate hike, not a cut, in December, after October consumer prices rose 0.4% on the month against 0.3% expected.
Those drivers, from the week’s spot ETF outflows to the shift in Fed odds, are laid out in our analysis of the US week to 14 November, which showed most of bitcoin’s weekly loss happening outside US trading hours. The weekend repeated the pattern.
Where the drop sits: lowest since July, 29% under the October high
On Coinbase daily candles, the last day with a lower low was 13 July 2026, when bitcoin touched $61,750.90; on 9 July it reached $61,636.05. The year’s low on Coinbase is still $57,717.55, set on 1 July. The night’s low is 29% below the $87,249 high of 2 October, the top of the October range on the same venue.
The week before the drop explains why traders were exposed. Bitcoin closed 8 November at $74,754 on Coinbase. It then closed lower on four of the next six days, with daily lows of $71,008 on 12 November, $67,555 on 13 November and $63,270 on Saturday. Each lower low pushed the long positions opened on the way down closer to their liquidation prices. At that point the exchange closes a leveraged position by force when the trader’s margin no longer covers the loss, and that forced sale can push the price into the next set of stops.
The week ahead: an SEC deadline today, Nvidia on Tuesday, Fed minutes on Wednesday
Sunday itself carries a regulatory date. The SEC’s order of 9 September extended to 15 November its deadline to approve or disapprove the Nasdaq rule change that would list the VanEck JitoSOL ETF, a fund holding Jito’s staking means depositing a proof of stake coin with a protocol that stakes it for you and issues a transferable token (such as Lido stETH or rETH) representing the deposit plus rewards, which you can use or sell while the coins stay staked.">liquid staking token for solana (SEC release 34-106309). Nasdaq filed on 10 March and the SEC opened proceedings on 17 June. The 15 November date is 240 days after the filing was published in the Federal Register on 20 March, the longest review the Exchange Act allows. By 05:55 UTC on Sunday no approval or disapproval order had appeared on the SEC’s website or in the Federal Register.
Monday brings the first US spot ETF flow figures since the weekend, the first test of whether the run of outflows that preceded the drop is still going. Cryptoast flagged that print as the next one to watch.
On Tuesday 17 November Nvidia reports its third quarter of fiscal 2027, the quarter that ended on 25 October, with a call at 2 p.m. Pacific time, 22:00 UTC, according to the company’s release of 28 October.
The minutes of the Federal Reserve’s 27-28 October meeting are expected on Wednesday 18 November, three weeks after the decision, in line with the schedule on the Fed’s calendar page. With December hike odds near 90% on FedWatch, any line on how many members wanted to tighten will move rate futures. The next policy meeting is on 8-9 December.
On Thursday 19 November the Senate Banking Committee hears the two SEC nominees, Steven Levine, put forward for Hester Peirce’s former seat, and Kristin Johnson, as Coindaro reported on 13 November. Strategy’s removal from the MSCI indexes takes effect at the close of 30 November.
Monday’s ETF flows will show whether US buyers step in after a weekend that happened without them. Nvidia’s numbers and the Fed minutes follow while open interest is still about 10% below its level before the flush, on Cryptoast’s figure.