Bitcoin fell below $70,000 on Friday 13 November 2026, touching $67,632.68, its lowest price since 19 August, according to Coin Metrics. It was on course for a sixth consecutive weekly decline, and over the weekend it traded lower still, in the mid-$60,000s on Yahoo Finance data.
What makes this slide unusual is the backdrop. The same week, the S&P 500 rose 2.5% and all three major US indexes had their best week since early August. Crypto and stocks, which have moved together for most of the past few years, have split.
The short version
- Price: below $70,000 on 13 November, low of $67,632.68, the lowest since 19 August.
- Streak: on pace for a sixth straight weekly loss.
- Stocks, same week: S&P 500 up 2.5%, Dow up 2.1%, Nasdaq up 2.3%.
- Why: a strong dollar, ETF outflows, forced selling by leveraged traders, the Binance hack, and a Fed that is about to raise rates.
- ETFs: US spot Bitcoin funds saw about $1.28 billion of net outflows in the week of 2 to 6 November.
- Leverage: more than $1 billion of leveraged positions were liquidated during the week.
Why is Bitcoin going down?
1. The dollar is at its strongest since April 2025
Bitcoin is priced in dollars, and it tends to fall when the dollar rises. The US dollar index hit its highest level since April 2025 this week, helped by expectations that the Fed will raise interest rates while other central banks do not.
2. Rates are going up, not down
Markets now price a near-certain Fed rate hike on 9 December after a hot October inflation report, and the ten-year Treasury yield is above 5%. When safe assets pay more than 5%, the opportunity cost of holding something that pays nothing rises. We explain the rate outlook in will the Fed raise rates in December 2026.
3. Institutions are selling through ETFs
Spot Bitcoin exchange-traded funds were the engine of the last rally. They are now running in reverse, with about $1.28 billion of net outflows in the first week of November alone. ETF flows are a useful read on institutional demand, because each outflow is a real sale of Bitcoin by the fund.
4. Leverage is being flushed out
More than $1 billion of leveraged positions were liquidated during the week. When prices fall through a level where many traders have borrowed, exchanges sell their positions automatically, which pushes the price lower and triggers the next round. That is why crypto falls in steps rather than smoothly.
5. The Binance hack and the AI sell-off
The decline began in late October amid worries about AI valuations and accelerated after the $6.3 billion hack of Binance, the world's largest exchange. We covered what happened in the Binance hack and its effect on Bitcoin and BNB separately.
Bitcoin vs stocks this week
| Asset | Week to 13 November 2026 |
|---|---|
| S&P 500 | +2.5% (closed 7,561.67) |
| Dow Jones | +2.1% (closed 52,347.55) |
| Nasdaq Composite | +2.3% (closed 25,136.27) |
| Bitcoin | sixth straight weekly loss, below $70,000 |
Stocks recovered from the 5 November AI sell-off as investors rotated into large, profitable companies. Bitcoin did not get that bid. In a week when investors were choosing between risk and safety, they treated it as risk.
Is this a crypto winter?
A sixth weekly loss is a long losing streak, but one week's prices cannot tell you whether a bear market has years or weeks to run. What would change the picture, in either direction, is visible: ETF flows, the dollar, and the Fed's tone on 9 December. Anyone telling you with confidence where Bitcoin will be at Christmas is guessing.
This post explains what moved and why. It is not investment advice.
What should businesses that hold or accept crypto do?
If your business holds crypto on its balance sheet or accepts it as payment, a 10% move in a week is a treasury question, not a trading one:
- Convert on receipt if you accept crypto for goods and services and do not want price exposure. Most payment processors offer automatic conversion.
- Set a written policy for how much of your operating cash, if any, can sit in crypto, and who can move it.
- Check custody. After the Binance hack, know exactly where your keys are and what happens if the platform is hacked. Our guide on security lessons from the Binance hack covers the basics.
Frequently asked questions
Why is Bitcoin down this week?
A strong dollar, expectations of a Fed rate hike, outflows from spot Bitcoin ETFs, more than $1 billion of leveraged liquidations, and lingering damage from the Binance hack all weighed on prices.
What is the lowest Bitcoin has been in November 2026?
It touched $67,632.68 on 13 November, the lowest since 19 August, according to Coin Metrics, and traded lower over the following weekend.
Why are stocks up while Bitcoin is down?
Investors rotated into large, profitable companies after the 5 November sell-off, while Bitcoin was hit by crypto-specific selling and a stronger dollar.
Sources
CNBC markets, 13 November for price, Coin Metrics data, drivers and index closes; Yahoo Finance BTC-USD history; FXStreet on November ETF outflows. As of 15 November 2026.
