Cryptocurrencies · 14 November 2026 · 5 min
Why is bitcoin down today? 3 reasons it fell below $70,000
Why is bitcoin down today? It broke below $70,000 and is down 10% this week on ETF outflows, Fed hike bets and Strategy's MSCI exit. Key levels and dates.
Updated: 14 November 2026, with data from the close on Friday 13 November.
In short: Bitcoin fell below $70,000 on Friday 13 November 2026 for the first time since August and was trading at around $68,100 at 6:03pm New York time, down 10.2% on the week. Three forces are at work: outflows from spot ETFs, expectations of a Fed rate hike in December and Strategy's removal from MSCI indices.
Why is bitcoin down today?
Bitcoin is falling because three pressures have converged: US spot bitcoin ETFs are recording net outflows, the market sees a Federal Reserve rate hike in December as all but certain, and MSCI will drop Strategy from its indices on 30 November. On top of that comes the sell-off in tech stocks on Wall Street.
According to Yahoo Finance, bitcoin was down 4.7% at $68,099 at 6:03pm (New York time) on Friday and heading for its worst week since early June.
Reason 1: bitcoin ETF outflows
Spot bitcoin ETFs were the main engine of buying in 2024 and 2025. Now they are working in reverse. According to SoSoValue data analysed by CoinDesk, US-listed funds have recorded net outflows of around $1.56 billion so far in 2026. At the end of October they were still in positive territory for the year.
| Period | Net flows, US spot bitcoin ETFs |
|---|---|
| Full year 2024 | +$35.24 billion |
| Full year 2025 | +$21.37 billion |
| Previous week | -$1.28 billion |
| This week (to Thursday 12 Nov) | -$643.6 million |
| 2026 year to date (to 12 Nov) | -$1.56 billion |
It is the twelfth week of 2026 with outflows above $500 million (there were 15 in all of 2025). Our analysis: when the structural buyer (advisers, asset managers and wealthy investors via ETFs) turns into a net seller, every bounce runs into supply. That is why daily ETF flows are a more useful indicator right now than any single headline.
Reason 2: the Fed and rate hike bets
Bitcoin behaves like a risk asset that is sensitive to liquidity. In October, US CPI rose 0.4% month on month (0.3% expected), core CPI rose 0.3% (0.2% expected) and job growth comfortably beat forecasts. According to CME's FedWatch tool, as cited by Yahoo Finance, the market puts the probability of a 25 basis point hike at the December meeting at around 90%, and of a 50 basis point move at around 10%.
On Friday, October's producer price index (PPI) came in slightly softer than expected (+0.3% month on month against +0.4%; +6.5% year on year), but it was not enough to change the mood. Higher rates make money more expensive and reduce the appeal of non-yielding assets such as bitcoin. You can follow upcoming releases in our economic calendar.
Reason 3: Strategy is dropped from MSCI indices
MSCI has confirmed that it will exclude Strategy (formerly MicroStrategy), the listed company with the most bitcoin on its balance sheet, and other similar bitcoin treasury companies from indices such as the MSCI USA, MSCI World and MSCI ACWI at the close on 30 November. Index funds will have to sell Strategy shares.
One important nuance: the exclusion does not force Strategy to sell a single bitcoin. The risk to bitcoin is indirect: if the share price falls, it becomes harder for the company to raise equity or debt to keep buying, and one of the market's most consistent buyers loses firepower.
How the rest of the crypto market fell
Bitcoin was not alone. These were the weekly moves up to Friday evening, according to Yahoo Finance:
| Cryptocurrency | Price / weekly change |
|---|---|
| Bitcoin (BTC) | $68,099, -10.2% |
| Ethereum (ETH) | $1,918.97, -13.9% |
| XRP | -14.5% |
| Solana (SOL) | -13.2% |
| Dogecoin (DOGE) | -11.4% |
| Cardano (ADA) | -9.6% |
Ethereum has fallen below $2,000 and is dropping harder than bitcoin, which is typical in risk-off phases: altcoins amplify the moves. To see how they move together, try our correlation tool.
Bitcoin price levels to watch
Based on data compiled by CryptoTicker, bitcoin is trading below its 50, 100 and 200-day moving averages (the 200-day stood at around $73,125 on Thursday 12 November, according to that source). These are reference levels, not predictions:
- Resistance: the $70,000 area (lost support) and the 200-day average, near $73,100.
- Support: the August daily close around $69,300, already broken, and the summer low around $62,800 (17 August).
- Context: the all-time high of $126,080, set on 6 October 2025, is far above: bitcoin trades almost 46% below it.
Scenarios to watch
| Scenario | Signal |
|---|---|
| Stabilisation | Reclaims $70,000 and ETFs return to net inflows |
| Range | Trades between roughly $62,800 and $70,000 with mixed flows |
| More pressure | Breaks the summer low and ETF outflows continue |
What to watch next, and when
- Daily ETF flows from Monday 16 November: a switch to inflows would be the first sign of stabilisation.
- Nvidia earnings, Tuesday 17 November: tech risk appetite and crypto have been moving in tandem in recent weeks.
- 30 November: Strategy's exclusion from MSCI indices takes effect.
- 8-9 December: Federal Reserve meeting.
What it means for traders and investors
In weeks like this, volatility spikes and liquidations of leveraged positions accelerate the falls: according to CoinGlass data reported by CryptoTicker, between $720 million and $750 million was liquidated in 24 hours on Thursday 12 November, mostly long positions. If you trade crypto with leverage or CFDs, size each trade with our position size calculator and assume that price gaps can skip past your stop.
Cryptocurrencies are highly volatile assets and you can lose everything you invest. Read our risk warning. This article is for information only and is not a recommendation to buy or sell.
Frequently asked questions
What is the bitcoin price today?
On Friday 13 November 2026, at 6:03pm New York time, it was trading at around $68,100, below $70,000 for the first time since August. The price changes constantly, including at weekends.
Why is money leaving bitcoin ETFs?
Because of a combination of expectations of higher rates, selling of risk assets and the falling price, which is leading many investors to cut exposure. In 2026 they have racked up around $1.56 billion in net outflows.
Will Strategy sell its bitcoin because of the MSCI exit?
Not for that reason. The exclusion forces index funds to sell Strategy shares, not the company to sell bitcoin, although it does make it harder to fund new purchases.
How much has ethereum fallen this week?
Around 13.9% on the week, to about $1,919 on Friday evening.
Will bitcoin keep falling?
No one can say for sure. What you can watch are the signals: whether ETFs return to inflows, whether it reclaims $70,000 and what the Fed decides on 9 December. Without those signals, selling pressure remains.
What is bitcoin's all-time high?
$126,080, reached on 6 October 2025.