Bitcoin has dropped below $70,000, driven by a combination of U.S. market pressures and a wave of derivatives liquidations. The decline was exacerbated by the resignation of NVIDIA CEO Jensen Huang, which contributed to broader stock market contraction. As of 4 p.m. Korea Standard Time on November 13, 2026, Bitcoin was trading at $69,066 on CoinMarketCap, down 8.65% from the previous week. Domestically, it was priced at 93.88 million won on Upbit, slightly higher than on Binance.
Ethereum also saw a significant drop, falling 12.90% over the same period to $1,939. The CoinMarketCap “Fear and Greed Index” reflected investor sentiment at an extreme low, registering just 19 out of 100 points. The market had been relatively stable earlier in the week but saw increased selling pressure on November 13, pushing Bitcoin’s 24-hour decline into the 5% range.
Derivatives liquidations over the past 24 hours reached $1.63 billion, with long positions accounting for 89.3% of the total. Kim Ji-won, a researcher at KB Securities, attributed the downturn to higher-than-expected U.S. October Consumer Price Index (CPI) data and comments from Federal Reserve Governor Christopher Waller about a potential 50 basis point rate hike in December. She also noted significant outflows from Bitcoin and Ethereum exchange-traded funds (ETFs) over the past week.
The altcoin market also experienced a cooling period, with only five tokens among the top 100 by market capitalization posting weekly returns exceeding 10%. Kim Jun-seong, a researcher at Zangle, observed that the weakness in Bitcoin and Ethereum extended to many top-tier altcoins, though a rebound in major assets could signal broader market strength.