DECRYPT · 2026-11-13 11:20 UTC

Bitcoin Drops to $69K On 'Concentrated Liquidation' and 'Weakening' Demand

Bitcoin fell 5.6% on the day to just over $69,300, reaching a 24-hour low of $67,922, its lowest since mid-August, after a concentrated liquidation of leveraged long positions. U.S. Bitcoin spot ETFs recorded six consecutive days of net outflows, stablecoin supply shrank, and MSCI removed Strategy from its funds, per Hashkey's Tim Sun. October CPI rose 0.4% and came in hotter than expected, while Polymarket gave a 97% chance of a Fed rate hike this year and CME FedWatch showed 88% odds of a 25 basis point hike.

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