Delta

Momentum

<p style="text-align: justify"><a href="https://en.coin-turk.com/4500-btc-worth-378-million-moves-after-2-years-dust-swept-holder-skipped-2025-peak/" rel="noopener noreferrer nofollow">Bitcoin</a> faced a sharp downturn as its price slipped below $70,000, triggering significant concern among crypto investors. This marks the first time since August that Bitcoin has traded at these levels, with heightened volatility shaking the broader digital asset market.</p>
<h2 id="mass-liquidations-hit-crypto-markets">Mass liquidations hit crypto markets</h2>
<p style="text-align: justify">Over the past 24 hours, data from analytics provider CoinGlass shows that 187,171 traders were liquidated across various exchanges. These liquidations reached a combined value of $1.65 billion, underlining the severity of the recent sell-off.</p>
<p style="text-align: justify">Long positions bore the brunt of the impact, amounting to $1.46 billion in liquidations, compared to just $183 million in shorts. Bitcoin accounted for the largest share, with $918.6 million liquidated, and 95.4% of those were long positions. The single largest liquidation reportedly involved a $31 million long position on the BTC-USD pair, executed on the <a href="https://en.coin-turk.com/hype-trades-above-91-after-breakout-eyes-100-target-as-burn-reduces-supply/" rel="noopener noreferrer nofollow">Hyperliquid</a> exchange.</p>
<p style="text-align: justify">This broad sell-off has aligned both spot and futures markets, with futures Cumulative Volume Delta (CVD) dropping by $5.7 billion and spot CVD falling by $438 million, providing further evidence of synchronized market capitulation.</p>
<table style="border:1px solid #f1e4d8;padding:8px">
 <thead>
  <tr>
   <th>Asset/Market</th>
   <th>Liquidations (USD)</th>
   <th>Longs Liquidated</th>
   <th>Shorts Liquidated</th>
  </tr>
 </thead>
 <tbody>
  <tr>
   <td>Bitcoin</td>
   <td>$918.6 million</td>
   <td>95.4%</td>
   <td>4.6%</td>
  </tr>
  <tr>
   <td>All Crypto</td>
   <td>$1.65 billion</td>
   <td>$1.46 billion</td>
   <td>$183 million</td>
  </tr>
 </tbody>
</table>
<blockquote>
 <p>Market data from CoinGlass indicated that more than 187,000 traders were liquidated in 24 hours, with the majority being long positions totaling $1.46 billion.</p>
</blockquote>
<h2 id="momentum-indicators-and-technical-analysis">Momentum indicators and technical analysis</h2>
<p style="text-align: justify">Since November 11, Bitcoin has declined by roughly 9%. The lowest point recorded during this drop was $67,449. Traders point to the “end of the world” candle pattern on the Bitcoin chart as a sign of mounting panic, as multiple momentum indicators edge toward oversold territory.</p>
<p style="text-align: justify">The RSI (Relative Strength Index), a widely used momentum indicator, is approaching 30. This level is typically considered oversold, suggesting the decline could be nearing a turning point. Despite the recent losses, some technical analysts note that support may be found at the $64,000 level—the price point where Bitcoin’s previous rally began last August.</p>
<p style="text-align: justify">At present, Bitcoin is trading near $68,000, after swiftly breaching the psychological $70,000 threshold. The swift price drop has left little room for further decline in the short term, according to several analysis tools.</p>
<blockquote>
 <p>Momentum analysis shows RSI nearing the oversold zone at 30, signaling that Bitcoin may soon find a support area around $64,000.</p>
</blockquote>
<h2 id="context-broader-market-derisking">Context: Broader market derisking</h2>
<p style="text-align: justify">The Bitcoin slump is unfolding against a backdrop of wider derisking across technology, AI, and cryptocurrency sectors. Broad-based market anxiety has grown amid unsubstantiated rumors surrounding the departure of Jensen Huang from NVIDIA, a leading technology company known for its work in graphics processing units and artificial intelligence.</p>
<p style="text-align: justify">Investor sentiment has faltered as high-risk markets witness rapid capital flight. With the current downtrend, analysts point to greater caution, suggesting that a prolonged correction could be in store if current conditions persist.</p>
<p style="text-align: justify">Traders are now closely monitoring support levels and market signals, anticipating whether this decline will stabilize or further shocks may occur in the coming sessions.</p>
<p style="text-align: justify;background: linear-gradient(135deg,#ffffff 0%,#fffdf9 100%);border:1px solid #f1e4d8;border-left:4px solid #F69434;padding:14px 16px;border-radius:12px;color:#1e293b;font-size:15px;line-height:1.7">Mini dictionary: Jensen Huang is the CEO of NVIDIA, a US-based technology company prominent for designing GPUs and AI solutions. Rumors about his status can stir volatility in both tech and crypto sectors.</p>
<p>The post <a href="https://en.coin-turk.com/bitcoin-drops-9yuzde-as-1-65-billion-liquidated-dips-below-70000-for-first-time-since-august/" rel="noopener noreferrer nofollow">Bitcoin drops 9% as $1.65 billion liquidated, dips below $70,000 for first time since August</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Bitcoin drops 9% as $1.65 billion liquidated, dips below $70,000 for first time since August

Table of Contents

COINTURK NEWS

Other articles published on Nov 13, 2026

Join our free newsletter for daily crypto updates!