Bitcoin fell below $70,000 for the first time since August. Ether dropped under $2,000
Bitcoin fell to $67,922 and ether to $1,905 overnight, the lowest since mid-August, and the crypto market lost 6.8% of its value in a day. Rate fears and fund outflows built up all week.
Key points
- Bitcoin traded at $69,145 at 6:37 a.m. ET on November 13, down 5.3% in 24 hours, CoinGecko showed. Its 24-hour low was $67,922.
- CoinGecko's hourly history last showed bitcoin under $70,000 on August 20, and ether under $2,000 on August 19. Ether fell as low as $1,905 and traded at $1,955.
- The whole crypto market was worth $2.32 trillion, down 6.8% in a day. The Fear & Greed Index read 28 (Fear), down from 50 a week ago.
What fell, and how far
Bitcoin slipped under $70,000 late on Thursday, November 12. In CoinGecko's hourly prices it was at $70,188 at 10 p.m. ET and $68,891 at 11 p.m. ET. The slide kept going after midnight: the 24-hour low was $67,922. At 6:37 a.m. ET on Friday, bitcoin traded at $69,145, down 5.3% in 24 hours.
That is the first time since August 20 that CoinGecko's hourly history shows bitcoin below $70,000. The last time it traded lower than Friday's low was August 19.
Ether, the coin of the Ethereum network, crossed its own round number at almost the same moment. It was at $2,010 at 9 p.m. ET and $1,989 at 10 p.m. ET, then fell as low as $1,905, CoinGecko shows. At 6:37 a.m. ET it traded at $1,955, down 3.6% in a day. Ether was last below $2,000 on August 19.
The numbers
The fall did not start overnight. Bitcoin began November 5 at $80,443 and ether at $2,423, so the two are down about 14% and 19% in just over a week. Bitcoin is now 45% below its record of $126,080 from October 6, 2025, and 21% below where it started 2026 ($87,575). Ether is 60% below its record of $4,946.
Across all coins, CoinGecko put the market at $2.32 trillion, down 6.8% in 24 hours. Bitcoin makes up 59.7% of that.
Hyperliquid's HYPE token was the one large coin that rose, up 3.5% in a day.
24-hour price change, November 13, 6:37 a.m. ET
%
Source: CoinGecko
What forced the selling
No single event explains the drop, but the public record shows three pressures building all week.
- Inflation and rates. The Bureau of Labor Statistics said core consumer prices (prices without food and energy) rose 0.3% in October, a third month at that pace. Federal Reserve Governor Christopher Waller said on November 10 that more tightening will be needed soon, and that a half-point rate hike should be considered if core prices rose about 0.3% or more. Higher rates usually make riskier assets like crypto less attractive.
- Fund outflows. BlackRock's bitcoin fund IBIT had 22.72 million fewer shares on November 12 than on November 6, its iShares page shows, as holders cashed out.
- Leverage. Many traders borrow to bet on prices. When the price moves against them and their collateral runs out, exchanges close the bet for them by selling, which can push the price down further. We could not open a primary source for the size of the liquidations (forced closings) this time, so we do not cite a figure.
How traders feel
The Crypto Fear & Greed Index, a 0 to 100 sentiment gauge built from price swings, volume and social data, read 28, or Fear, when we checked at 6:44 a.m. ET. It was 29 yesterday, 50 (Neutral) a week ago and 57 (Greed) a month ago.
Where this sits in the year
Bitcoin has been here before in 2026. CoinGecko's daily prices show it under $70,000 on more than 120 days this year, mostly in February, March, June, July and August. Its lowest daily price of the year was $58,566 on July 1, about 15% below Friday's price. The August jump that took it back above $70,000 started on August 20.
LC Insight analysis
This section is our reading of the facts above, not a statement of fact.
- We think the rate story matters more than any single crypto headline. Waller tied a bigger hike to core prices rising about 0.3%, and October's core reading met that bar. Crypto has traded like the riskiest corner of the market since.
- The speed of the drop between 10 p.m. and 1 a.m. ET looks to us like forced closings of borrowed bets, not just investors choosing to sell. Without a primary liquidation figure, that stays our reading, not a fact.
- A Fear reading of 28 is low but not extreme. The index sat at 50 only a week ago, so the mood has turned fast, and we would not read a single day's number as a floor.
What's next
- Whether bitcoin gets back above $70,000 or keeps sliding toward its August levels.
- US spot bitcoin and ether ETF flows for Thursday and Friday.
- Fed speakers and new inflation data ahead of the December rate meeting.
- The Fear & Greed Index: a move under 25 would mean Extreme Fear.
Disclaimer. This article is based on public information and the sources listed below as of the update time shown. It is for information only and is not investment, legal or tax advice. Figures may change as companies and authorities publish new data.
Sources
- CoinGecko, Bitcoin (BTC) price and hourly history (read November 13, 2026, 6:37 a.m. ET)
- CoinGecko, Ethereum (ETH) price and hourly history (read November 13, 2026, 6:37 a.m. ET)
- CoinGecko, global crypto market cap (read November 13, 2026, 6:37 a.m. ET)
- Alternative.me, Crypto Fear & Greed Index (read November 13, 2026, 6:44 a.m. ET)
- Bureau of Labor Statistics, Consumer Price Index, October 2026
- Federal Reserve, Governor Waller speech (November 10, 2026)
- iShares, iShares Bitcoin Trust ETF (IBIT), data as of November 12, 2026
