Bitcoin Sheds Gains as Dollar Surges
Bitcoin’s price has dipped below the $70,000 mark for the first time since August, erasing weeks of gradual gains and raising concerns about the resilience of the recent rally. As of November 13, 2026, BTC trades at $69,232, reflecting a 0.05% drop in the past 24 hours and a 0.09% decline over the last week. The move down is not isolated: Ether has also slipped beneath $2,000, echoing the broad selloff across major crypto assets.
This latest leg lower comes as the U.S. Dollar Index surges to a 19-month high, putting additional pressure on risk assets. The strengthening dollar has coincided with a sharp uptick in interest rates, which typically makes speculative investments like cryptocurrencies less attractive. According to coindesk.com, Bitcoin’s slide accelerated as the dollar rallied on shifting expectations for future interest rates.
Liquidations in the crypto futures market topped $1.6 billion during Friday's session.
Nvidia Exit Fails to Shake Equities
While crypto markets reeled from the selloff, equity investors appeared largely unfazed by Nvidia CEO Jensen Huang’s surprise resignation announcement. Despite his departure—an event that might have triggered broader risk aversion—major stock indices shrugged off the news and continued trading without significant disruption. The divergence between equity stability and crypto volatility highlights a growing disconnect: traditional markets seem more resilient to tech sector shocks than their digital asset counterparts.
Crypto traders were left searching for explanations as equities ignored Nvidia’s turmoil.
$1.6 Billion Liquidated Amid Panic
The rapid price drop triggered a wave of forced liquidations in crypto futures markets, with more than $1.6 billion wiped out in a matter of hours. These liquidations occur when leveraged traders are unable to meet margin requirements, forcing exchanges to close their positions at a loss. The cascade effect amplified selling pressure across both Bitcoin and Ether futures, accelerating declines and deepening market anxiety.
Per data from our proprietary database, Bitcoin’s current price of $69,232 stands in stark contrast to its all-time high of $126,080 set just over a year ago on October 6, 2025. While the daily and weekly changes appear minor—down less than 0.1%—the broader context is more troubling: over the past month, BTC has slipped by 0.17%, and it now sits well below its previous peak despite remaining the world’s largest cryptocurrency by market cap.
See Also
Momentum Gauge Signals Further Downside
Technical signals are flashing warnings for Bitcoin bulls. The cryptocurrency has fallen beneath its crucial 200-week moving average—a level often watched by traders as an indicator of long-term trend direction. In a piece from coindesk.com titled "Bitcoin's momentum gauge is turning red," analysts warn that this shift could open the door to further declines, potentially sending BTC back toward the $60,000 zone if selling persists.
Momentum indicators turning negative come at an especially precarious moment for crypto markets already rattled by macroeconomic hadwinds. With liquidations mounting and technical support failing to hold, confidence in a quick rebound appears shaky at best.
Summer Rally Erased in a Day
The swiftness of Bitcoin’s reversal stands out: after building up gains throughout late summer and early autumn, one session was enough to wipe out much of that progress. Bitcoin is now down more than 3.5% since midnight UTC—a sharp move for an asset that had traded in a relatively tight range for weeks prior.
There is an important nuance here: while headline numbers show only modest declines over daily or weekly periods, these metrics obscure how quickly sentiment can shift when technical levels break and leverage unwinds en masse.
Looking ahead, it remains uncertain whether Bitcoin can regain its footing above key thresholds or if further downside awaits as macro pressures persist and liquidity thins out across crypto venues.
The Briefing
- •Bitcoin fell below $70,000 for the first time since August, trading at $69,232 as of November 13, 2026.
- •Crypto futures market liquidations exceeded $1.6 billion during Friday's session amid the price drop.
- •The U.S. Dollar Index reached a 19-month high, coinciding with Bitcoin and Ether declines below key thresholds.
Key variables ahead
If Bitcoin's momentum gauge, as flagged by coindesk.com for November 13, 2026, turns red and prices fall back below $60,000, this would immediately signal a deepening of the current selloff already marked by liquidations topping $1.6 billion and a breach of the 200-week moving average; whether this threshold is breached remains unclear.
