Bitcoin Breaks Below $67,000 to Three-Month Low as ETF Outflows and Rate Fears Deepen Sell-Off
Bitcoin fell below $67,000 on Friday, dropping to its lowest level in about three months, as hotter-than-expected U.S. inflation data and a steady exodus from spot bitcoin exchange-traded funds deepened a sell-off that has now erased nearly half of the token’s value from its record high.
The world’s largest cryptocurrency dropped as low as $66,915 on Binance’s Tether market during Friday trading, its lowest price since August 19. It later trimmed some of the losses to trade in the $67,300 range, down about 4.3 percent on the day. CoinGecko data showed bitcoin near $66,900 early on Saturday morning in Europe, and The Defiant reported a low of $66,789 on Coinbase late Friday in New York.
A November slide that keeps accelerating
The break below $67,000 caps a brutal stretch for bitcoin. The token has fallen more than 18 percent so far in November alone, and it is down roughly 46 percent from its record high of about $126,080 set in October 2025. On a 30-day basis, the loss stands at about 18.5 percent from $82,156 in mid-October, and bitcoin is down just over 23 percent since the start of the year.
Bitcoin is also on track for a sixth consecutive weekly decline, a losing streak that has coincided with a broader retreat from risk assets. Ether traded near $1,930, XRP slipped below $1, and the total cryptocurrency market was worth about $2.33 trillion. Sentiment gauges showed the market firmly in “extreme fear” territory.
The slide follows an earlier milestone this month, when Bitcoin fell below $70,000 for the first time since August. That level, once seen as a floor, gave way within days as selling pressure built.
Hot inflation data revives rate-hike fears
The immediate trigger was U.S. inflation. The consumer price index rose 0.4 percent in October from a month earlier, while core CPI, which excludes food and energy, climbed 0.3 percent — both hotter than investors had expected. Rising Treasury yields and a stronger dollar, driven by expectations of tighter monetary policy, weighed on risk assets including bitcoin.
Jeff Mei, chief operating officer at crypto exchange BTSE, said losses in bitcoin and other cryptocurrencies could deepen if the Federal Reserve delivers a 50-basis-point rate increase instead of the 25-basis-point move markets had expected. Traders now look to the Fed’s next policy decision, due December 9, for a signal on how far the central bank is willing to go.
Volatility in technology stocks added to the pressure. Rich Rosenblum, co-founder of trading firm GSR, said some long bitcoin positions were liquidated because of swings in AI-related stocks and dollar strength, adding that the management change at Nvidia was also weighing on risk assets. Nvidia’s leadership turmoil deepened this week after reports that Jensen Huang misled Nvidia executives about his ties to Alice Huang, a saga that has already wiped hundreds of billions of dollars from the chipmaker’s market value.
ETF investors keep heading for the exit
The funds that once powered bitcoin’s rally have turned into a source of selling. More than $2.5 billion has flowed out of U.S. spot bitcoin ETFs on a net basis since October 30, according to data cited in Friday’s reporting. A CoinDesk tally put outflows at about $1.44 billion across the last six consecutive sessions of withdrawals, including $47.7 million on Thursday alone.
The drying-up of fresh money goes beyond the ETFs. Analytics firm Glassnode reported that the circulating supply of stablecoins — the dollar-pegged tokens investors use to buy crypto — shrank by $14.2 billion in the 30 days to November 9, while U.S. spot bitcoin ETFs lost a net $1.6 billion over the same stretch of trading days. Glassnode also estimated the average purchase price of bitcoin by ETF buyers at about $81,500, leaving many of those investors well underwater at current prices.
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The break below $70,000 also triggered a wave of forced selling. Data from CoinGlass showed between $1.3 billion and $1.6 billion in crypto futures positions liquidated within 24 hours, the vast majority of them long bets that prices would rise. A separate CoinDesk tally put Friday’s liquidations at $1.64 billion, including $916 million in bitcoin and $289 million in ether.
Why this matters
Bitcoin’s fall matters beyond crypto markets because the ETF boom had tied the token ever more closely to mainstream finance. Millions of Americans now hold bitcoin through funds in brokerage and retirement accounts, and the same institutional flows that lifted prices through 2025 are now working in reverse.
The slide also reflects a wider reassessment of risk. With inflation running hot, the dollar strong and the artificial-intelligence trade under strain, investors are pulling back from the assets that benefited most from easy money and speculative enthusiasm. Index provider MSCI added to the gloom by confirming it will remove Strategy, the largest corporate holder of bitcoin, from its equity indices after the November 30 session.
For now, traders are watching the $65,000 area as the next test. Analysts at StoneX have pointed to around $67,000 as the starting point of bitcoin’s August breakout and $65,000 as its base. A break below that level, they warn, could open the way to deeper losses.
What to watch next
U.S. spot ETF flows resume on Monday, when the market will learn whether the weekend’s thin trading was a pause or a prelude to more selling. Nvidia reports quarterly results on Tuesday, November 17, its first earnings under interim chief executive Colette Kress, and the Federal Reserve’s December 9 decision will set the tone for risk assets into year-end.
Bitcoin has staged sharp recoveries before, and weekend trading is typically thin, with large equity-market players absent. But with ETF outflows running, leveraged positions being wiped out and sentiment at extreme fear, the burden of proof has shifted to buyers.
Frequently Asked Questions
How low did bitcoin fall?
Bitcoin dropped as low as $66,915 on Binance’s Tether market on Friday, November 13, its lowest price since August 19. It later recovered somewhat to trade in the $67,300 range, and was near $66,900 early on Saturday morning in Europe, according to CoinGecko data.
Why is bitcoin falling?
Several forces are converging: hotter-than-expected U.S. inflation data has revived fears the Federal Reserve could raise rates more aggressively, more than $2.5 billion has flowed out of U.S. spot bitcoin ETFs since October 30, and forced liquidations of leveraged long positions have accelerated the decline. Volatility in AI-related stocks, including Nvidia’s leadership turmoil, has also weighed on risk appetite.
How far is bitcoin from its record high?
Bitcoin is down roughly 46 percent from its record high of about $126,080, set in October 2025. It has fallen more than 18 percent in November alone and is down just over 23 percent since the start of the year.
Bitcoin’s break below $67,000 is the latest sign that the crypto market’s post-record euphoria has fully reversed. Whether the token finds a floor near $65,000 — or keeps sliding into the Fed’s December decision — will depend on whether the ETF outflows that have defined November finally slow.
Sources: TradingView (BloomingBit) | BigGo Finance | CoinStats | Notitia | ForexClub
