Bitcoin endured a brutal selloff in mid-November 2026, shedding 12-14% in a single week and touching lows not seen since August. Prices oscillated between $62,112 and $65,000 on November 14, testing the resolve of investors who bought near the peak. The downturn stemmed from a mix of factors, including a stronger US dollar, speculation around a December Federal Reserve rate hike, and steady outflows from spot Bitcoin ETFs.
The technical breakdown accelerated when Bitcoin fell below $70,000, failing to hold above its 200-week moving average near $67,800, $68,000. The slide into the low-$60,000s triggered a wave of liquidations, wiping out approximately $1.2 billion in leveraged long positions over November 13-14. Long positions accounted for 80-90% of total liquidations, highlighting the market's one-sided positioning.
Newer investors bore the brunt of the selloff, having entered at higher prices with little cushion against the downturn. Before the sharpest drop, US spot Bitcoin ETFs had already seen $1.91 billion in net outflows between November 5 and November 13, signaling waning institutional confidence. Bitcoin's decline extended beyond the week, with prices down over 20% since late October 2026 and nearly 47% below its October 2025 all-time high of $126,000.
The selloff spread to other major assets, with Ethereum and others posting significant declines. Key factors to watch include Bitcoin's ability to reclaim the $67,800, $68,000 zone, ETF flow reversals, and any signals from the Federal Reserve. The liquidation figures also underscore the structural risks of lopsided market positioning.