Bitcoin fell to $66,369.12 at 04:14 UTC on Saturday 14 November, its lowest price on Coinbase since 19 August. The bitcoin price today stood near $66,933 at 05:50 UTC, according to Coinbase one-minute candles. The break below $67,000 came in the 02:00 UTC hour, the busiest of the night. Coindaro’s market data at about 05:40 UTC put bitcoin down 2.5% over 24 hours and down 11.6% over seven days, with the whole crypto market worth $2.29 trillion and the Crypto Fear & Greed Index at 13, in its extreme fear zone.
This is not the first weekend below $67,000 this year. Bitcoin traded as low as $62,830 on Saturday 15 August and $62,631 the next day. Every weekend from 22 August to 8 November then stayed above $73,000; last weekend’s lows were $75,453 and $73,477. So this is the first weekend under $67,000 since mid-August.
Friday’s US session, from the producer price bounce to the $67,555 low and the $1.64 billion of liquidations reported that day, is in our analysis of the 13 November US session.
Bitcoin price today: a 2.9% slide in under three hours
The night was calm until 02:00 UTC. Bitcoin had opened the Saturday UTC day at $68,236.54 and spent two hours between $68,050 and $68,380. Then 1,301 BTC changed hands on Coinbase in a single hour, more than four times the volume of each of the two hours before, and the price touched $66,789. The next two hours each set a lower low.
| Hour (UTC, 14 Nov) | Open | High | Low | Close | Volume (BTC) |
|---|---|---|---|---|---|
| 00:00 | $68,237 | $68,380 | $68,052 | $68,263 | 288 |
| 01:00 | $68,263 | $68,338 | $68,140 | $68,223 | 279 |
| 02:00 | $68,223 | $68,250 | $66,789 | $67,624 | 1,301 |
| 03:00 | $67,624 | $67,698 | $66,550 | $66,689 | 792 |
| 04:00 | $66,688 | $67,145 | $66,369 | $67,022 | 727 |
Source: Coinbase Exchange hourly BTC-USD candles, read at about 05:50 UTC. Other price indexes print a few dollars apart.
From the 01:44 UTC high of $68,330 to the 04:14 UTC low, the drop was about 2.9%. The last hourly candle on Coinbase with a lower low dates from 19 August at 15:00 UTC ($65,856.69). That was the bottom of a sharp August dip: two days later bitcoin touched $79,500.
Ether moved with it. It fell to $1,875 on Saturday after closing Friday’s UTC day at $1,928, and changed hands at $1,898 on Coinbase at about 05:50 UTC. Coindaro’s snapshot showed ether down 15.4% over seven days, a steeper weekly fall than bitcoin’s. For euro readers, bitcoin was quoted at about EUR 60,800 on Coinbase’s BTC-EUR book around 05:50 UTC.
No hack, exploit or regulatory announcement came out overnight that would explain the timing.
Bitcoin heads for a sixth straight weekly loss
Measured on Coinbase daily candles, with weeks running Monday to Sunday UTC, bitcoin has lost ground in each of the five weeks since the week of 28 September, which closed 2.4% higher. The current week opened at $74,756.52 on Monday 9 November. At 05:50 UTC bitcoin was 10.5% below that open, so a rise of more than 11% before Sunday’s 23:59 UTC close would be needed to avoid a sixth weekly loss.
| Week (Monday open) | Open | Close | Change |
|---|---|---|---|
| 5 October | $86,503 | $83,678 | -3.3% |
| 12 October | $83,678 | $82,007 | -2.0% |
| 19 October | $82,007 | $80,053 | -2.4% |
| 26 October | $80,053 | $78,231 | -2.3% |
| 2 November | $78,232 | $74,754 | -4.4% |
| 9 November (to 05:50 UTC Sat) | $74,757 | $66,933 | -10.5% |
Source: Coinbase Exchange daily candles; changes are Coindaro’s calculation from open to close of each week.
The losses grew as the streak went on. The first four weeks each cost 2% to 3.3%; the last two cost 4.4% and then about 10%. From the close of the week of 28 September ($86,507) to 05:50 UTC today, bitcoin is down 22.6%. CoinDesk, which also counts a sixth weekly loss, noted on 13 November that the longest run on record is nine weeks, in 2022.
For the year, the figure depends on the reference price. Against Coinbase’s close of $87,497.94 on 31 December 2025, bitcoin at $66,933 is down 23.5%. CoinDesk put the year-to-date loss at 21% on Friday, when bitcoin was near $68,000. The year’s lowest Coinbase daily low remains $57,717.55, on 1 July; bitcoin is about 16% above it. Earlier troughs came at $60,001 on 6 February and $59,073 on 5 June.
A week when stocks rose and bitcoin did not
The fall did not come with a broad market sell-off. The S&P 500 closed Friday 13 November at 7,561.67, down 0.4% on the day but up 2.5% for the week, according to the closing figures carried by La Nación’s news services. The Nasdaq Composite ended at 25,136.27 (up 2.3% for the week) and the Dow Jones Industrial Average at 52,347.55 (up 2.1%). Tech stocks weighed most on Friday itself.
Over the same Monday-to-Friday window, bitcoin went from $74,757 at Monday’s 00:00 UTC open to $68,839 at 21:00 UTC on Friday, when US markets shut: a fall of about 7.9%. Counting the night to 05:50 UTC, the weekly loss is about 10%. Since 1 January the gap is wider still: the S&P 500 is up 10.5% while bitcoin is down 23.5% on the Coinbase base above.
Analysts quoted by CoinDesk on Friday do not agree on why. Seamus Rocca, chief executive of Xapo Bank, argued that subscriptions to Anthropic’s share offering draw money out of liquid markets and that bitcoin is often the first asset sold to fund them. Anthropic launched its roadshow on 10 November with a price range of $70 to $78 a share and the Nasdaq ticker ANT, RTTNews reported; the company has not announced when the shares will price.
Others reject a link with Nvidia’s troubles, which followed the resignation of chief executive Jensen Huang on 12 November. “There’s no direct impact,” Mark Connors of Risk Dimensions told CoinDesk, describing instead a wider deleveraging of the AI trade. Chris Sullivan of Hyperium Decimus said: “There really is no logical connection.” Jim Ferraioli of the Schwab Center for Financial Research questioned whether Nvidia was behind the fall, and said the timing of the sell-off, around 11 p.m. Eastern time, suggested that neither the Nvidia news nor MSCI’s decision on Strategy was necessarily the trigger.
None of these explanations is proven. One more comparison circulates: Strive chief executive Matt Cole told CoinDesk that bitcoin fell 19% in the 50 days before SpaceX’s June listing, against 18% before Anthropic’s planned one. In June, Coinbase candles show bitcoin falling from a low of $66,100 on 2 June to $59,073 on 5 June, a week before SpaceX shares began trading on 12 June.
Leverage came down slowly and longs still pay funding
Futures positioning shows traders trimming bets, not a single flush. Open interest on Binance’s BTCUSDT funding payment between longs and shorts, settled every few hours, keeps the contract price close to the spot or index price.">perpetual contract fell from 101,152 BTC at 00:00 UTC on 13 November to 96,725 BTC at 05:00 UTC on Saturday, a drop of 4.4% in bitcoin terms over 29 hours, according to Binance’s public data. The biggest hourly drop of the night, about 1,290 BTC, came between 02:00 and 03:00 UTC, the hour of the break below $67,000; a larger one, about 1,700 BTC, had come early on Friday. In dollars the fall is about 10%, from $7.23 billion to $6.49 billion, because the price fell too.
The funding rate on that contract stayed positive throughout. The rate settled at 0.005972% at 00:00 UTC on Saturday, which means holders of long positions were still paying shorts; at that rate, three settlements a day work out to about 6.5% a year (Coindaro’s arithmetic). The rate was 0.004088% at 05:41 UTC. On Bybit, funding on the same pair was close to zero at that time, at 0.000365%. Binance’s long/short ratio of accounts stood at 3.19 at 05:00 UTC, meaning about 76% of accounts held net long positions. That ratio counts accounts, not the size of their positions.
No verified total for liquidations during the night has been published. The only sourced figure, $1.64 billion over 24 hours, dates from Friday morning and is in the 13 November analysis.
Options traders priced a bit more movement. Deribit’s DVOL index, which tracks 30-day implied volatility on bitcoin options, stood near 42.3 at 05:00 UTC, against roughly 40 through Friday and under 39 on 12 November. Total bitcoin options open interest on Deribit was 356,380 BTC at about 05:45 UTC. Saturday’s 08:00 UTC weekly expiry is small, at 4,176 BTC.
| Deribit BTC expiry | Open interest (BTC) | Puts | Calls |
|---|---|---|---|
| 20 November (weekly) | 27,184 | 9,513 | 17,671 |
| 27 November (monthly) | 87,148 | 40,283 | 46,864 |
| 25 December | 143,370 | 59,348 | 84,022 |
| 26 March 2027 | 46,440 |
Source: Deribit public API, read 14 November between 05:41 and 05:50 UTC.
For the 27 November monthly expiry, the largest blocks sit at the $90,000 calls (5,056 BTC) and the $58,000 puts (4,065 BTC), with 3,757 BTC of puts at $68,000, a strike now above the spot price. Coindaro’s own calculation from Deribit open interest puts the maximum-pain strike, the expiry price at which the open options would be worth the least to their holders, at $73,000 for 20 November and $77,000 for 27 November, both above the spot price. It is one reading of open interest, not a forecast.
Bitcoin ETF outflows run for a seventh day
US spot bitcoin ETFs lost a net $185.4 million on Friday 13 November, according to Farside Investors, the seventh trading day in a row of net outflows. BlackRock’s IBIT accounted for $143.5 million of it and Fidelity’s FBTC for $41.9 million; every other fund recorded no flow.
| Trading day | Net flow, all US spot bitcoin ETFs ($m) |
|---|---|
| 5 November | -430.2 |
| 6 November | -411.9 |
| 9 November | -201.0 |
| 10 November | -95.0 |
| 11 November | -299.8 |
| 12 November | -284.1 |
| 13 November | -185.4 |
Source: Farside Investors, read 14 November at about 05:50 UTC.
The five sessions of this week add up to an outflow of $1,065.3 million, after $1,281.7 million the week before. Since 30 October, the funds have had net outflows on 10 of 11 trading days, totalling about $2.99 billion on Farside’s figures, and IBIT has had outflows on all 11, worth about $2.35 billion. Other data providers can differ by a few million dollars. How these funds create and redeem shares is explained in our guide to bitcoin ETFs.
Stablecoin supply kept shrinking as well. The total value of stablecoins in circulation was $287.00 billion on 14 November, against $292.52 billion on 6 November, according to DefiLlama. That is $5.5 billion less in eight days and about $16.4 billion less than 30 days earlier. Tether’s USDT ($175.21 billion, down $1.63 billion in a week) and Circle’s USDC ($69.18 billion, down $1.40 billion) account for most of the decline. The total peaked at $312.85 billion on 17 May. DefiLlama’s figure for the current day is provisional and can be revised, and no published source explains the redemptions.
The agenda: Nvidia, Fed minutes, the SEC hearing and two unlocks
Saturday and Sunday carry no scheduled Federal Reserve events, and the weekly bar closes at 23:59 UTC on Sunday. The dates below come from the Fed’s November calendar, the Census Bureau’s release calendar, Nvidia and token-unlock trackers.
| Date | Event | Time (UTC) |
|---|---|---|
| Mon 16 Nov | Fed Chair Kevin Warsh gives opening remarks at a San Francisco Fed conference | 17:00 |
| Tue 17 Nov | US retail sales for October (Census Bureau) | 13:30 |
| Tue 17 Nov | Nvidia third-quarter results conference call | 22:00 |
| Wed 18 Nov | Minutes of the Fed’s 27-28 October meeting | 19:00 |
| Wed 18 Nov | TRUMP token unlock, 28.7 million tokens on one tracker | no time from the issuer |
| Thu 19 Nov | Senate Banking hearing on the SEC nominees Steven Levine and Kristin Johnson | not confirmed |
| Fri 20 Nov | Deribit weekly options expiry (27,184 BTC) | 08:00 |
| Fri 20 Nov | LayerZero ZRO unlock, 31.25 million tokens per trackers | tracker estimate |
Nvidia said it will hold its call on Tuesday 17 November at 2 p.m. Pacific time, 5 p.m. in New York, according to the company’s announcement. The Fed minutes are published at 2 p.m. Eastern time, and Warsh’s remarks on Monday are listed for noon. Fed Governor Christopher Waller speaks on payments on Tuesday, and Governor Michael Barr speaks several times during the week, according to the Fed calendar.
The Senate hearing for the two SEC nominees was added to the Banking Committee’s calendar late on 12 November, as described in our report on the nominations of Levine and Johnson. The token unlocks are modelled by trackers: the TRUMP issuer publishes no date, as explained on our TRUMP unlock page, and the LayerZero release is covered on our ZRO unlock page.
Further out, Deribit’s monthly options expiry falls on 27 November, three days before MSCI removes Strategy from its USA, World and ACWI indexes at the 30 November close. The Fed’s last rate decision of the year follows on 8-9 December, as listed on our FOMC December page.
What is still unclear
Four points remain open on Saturday morning. No published report ties the 02:00 UTC break to a specific piece of news. No verified liquidation total exists for the night. The cause of the stablecoin redemptions is not documented. And the 19 November hearing for the SEC nominees is reported by CoinDesk, with no committee notice available on Saturday morning.
The weekly close at 23:59 UTC on Sunday will settle whether the streak reaches six weeks, and the Monday open will be measured against this week’s $74,757.