In Bitcoin news on Friday, November 13, the BTC USD price fell as low as $67,568 on Binance as a wave of forced selling wiped out leveraged bets on a rebound. It was the cryptocurrencys lowest price since August 19.
Bitcoin trades at $68,772, down 6.7% in 24 hours and 9.1% in a week. Ether lost 5.5% and Solana 3.4% on the day.
BREAKING: Bitcoin falls below $69,000 and ETH nears $1,900 as selling pressure accelerates in crypto.
Crypto markets have now lost -$150 billion in 48 hours. pic.twitter.com/29QW0khxOh
— The Kobeissi Letter (@KobeissiLetter) November 13, 2026
Most of the damage came from liquidations, when an exchange closes a leveraged trade by force once the traders collateral runs out. CoinGlass data cited by several outlets put the 24-hour total at about $1.4 billion, close to 90% of it from longs, the bets that prices would rise. Those forced sales pushed Bitcoin through $70,000 in about two hours overnight.
The mood has flipped with it. The Crypto Fear & Greed Index dropped from 28 to 20 on Friday, its first Extreme Fear reading since July.
In Bitcoin news this week, the question is no longer whether the market is scared. It is whether Extreme Fear means the bottom is close, and what the daily and weekly charts say.
Liquidation Cascade: The Overnight Flush Hit Longs 11 to 1
Liquidation Map
The slide started on Thursday afternoon, when Nvidia announced that CEO Jensen Huang had resigned. It picked up speed after midnight UTC, when Bitcoin broke below the $72,727 low from Tuesday and kept falling.
We added up every forced closure in Bitcoin, Ethereum, Solana, XRP and Dogecoin futures on OKX, one of the largest exchanges, over the past 24 hours.
- Longs lost $125.5 million.Shorts lost $11.2 million, so longs took about 11 times more damage.
- Bitcoin alone:$76.7 million of longs were closed, most of it in two bursts. The first came at 14:00 UTC on Thursday, as the Nvidia news broke. The second came at 03:00 UTC on Friday, when Bitcoin fell through $69,000.
- ETH:$33.6 million of longs, the second-biggest hit.
Investors have also kept pulling money from U.S. spot Bitcoin ETFs, funds that buy and hold the coin itself, adding to the selling.
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Bitcoin News From the Futures Market: Two Bottom Signals Flash
On Thursday, we listed three signs that would point to a bottom: the fear index dropping toward the teens, the funding rate turning negative and open interest, the value of open futures bets, falling as longs give up. Overnight, two of them showed up.
- Funding turned negative:The funding rate, a fee that keeps futures prices in line with spot, flipped to -0.0064% on OKX at 08:00 UTC. Shorts now pay longs for the first time since November 7.
- Open interest fell:The value of all open Bitcoin futures on OKX dropped from $3.86 billion late on Thursday to $3.46 billion, a 10% cut in a few hours.
- Fear reached 20:Close to the teens, though not yet at the 9 and 11 readings that marked this years February and July lows.
One sign still points the other way. On OKX, 3.19 accounts are long for every one that is short, about the same as before the crash. Many traders are still buying the dip with leverage.
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Extreme Fear Has Rarely Marked the Exact Bottom
Extreme Fear sounds like a buy signal. History says it usually comes early. We found every time since 2018 that the index first dropped to 20 or lower after at least a month without such a reading. There were 16, and we followed Bitcoin for 90 days after each.
- It kept falling 15 times out of 16.The median further drop was 23.2%, and the low came a median 44 days later.
- The bottom came within a week only three times:August 2018, March 2020 and September 2021.
- 90 days later:Bitcoin was higher in 7 of the 16 cases, with a median move of -4.4%.
The most recent case fits the pattern. Extreme Fear first appeared on June 3 at $64,014, and Bitcoin still fell another 8.5% before it bottomed at $57,800 on July 1. Then it rallied to $87,396 in September.
For anyone reading this Bitcoin news as a buy signal, Extreme Fear says the bottom is getting closer. It has rarely said the bottom is here. A move to the 2026 lows would match the median path.
Bitcoin Price Analysis: The Daily Chart
On the daily chart, where each candle covers one day, Bitcoin sits far below both of its exponential moving averages (EMAs), averages that give recent prices more weight. The 50-day EMA is at $78,226 and the 200-day EMA at $76,325.
- Resistance:$72,727, Tuesdays low, which now caps rebounds. Then $76,325, the 200-day EMA.
- Support:$67,568, Fridays low. Below that, $64,166, the double low from August 7 and 19, and $62,535, the August 14 low.
BTCUSDT 1D chart. Source: TradingView
Bitcoin News: The Weekly Chart Is Testing the Line That Marked 2026s Bottoms
On the weekly chart, where each candle covers one week, the key level is the 200-week EMA at $69,555. Bitcoin trades just below it, and the week closes on Sunday.
That line matters. Bitcoin closed below the 200-week EMA for 16 weeks this year, in February and March and again from June to mid-August, and both of 2026s bottoms formed during those stretches.
- Resistance:$69,555, the 200-week EMA, then $78,053, the 50-week EMA.
- Support:$65,000, the March low, then $60,000, the February low, and $57,800, the July bottom.
BTCUSDT 1W chart. Source: TradingView
| Outlook | Trigger | Level to watch |
|---|---|---|
| Rebound | A weekly close back above $69,555 and a daily close above $72,727 | $76,325, the 200-day EMA |
| Holding pattern | Daily closes between $64,166 and $72,727 | A base under the 200-week EMA |
| Sell-off | A daily close below $64,166 | $60,000, then the $57,800 July low |
The overnight flush did part of the work a bottom needs: leverage came out and funding turned negative.
For traders following Bitcoin news, the Sunday weekly close against $69,555 is the next test. History says the final low often comes weeks after the first Extreme Fear reading.
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