Bitcoin

Tom Lee

<p>Bitcoin price has fallen to $62,081 on November 15, losing approximately 23% from its November 4 high as US political uncertainty, weak technology stocks, ETF withdrawals and heavy liquidations weighed on the cryptocurrency.</p>
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   <li>Bitcoin price declined approximately 23% from its November 4 high, reaching $62,081 on November 15.</li>
   <li>US spot Bitcoin ETFs lost $1.91 billion over seven consecutive trading sessions through November 13.</li>
   <li>Cryptocurrency liquidations approached $2 billion over 24 hours, with Bitcoin longs suffering heavy losses.</li>
   <li>Stronger inflation readings and technology stock selling added pressure as investors anticipated higher US interest rates.</li>
   <li>Coinbase Institutional reported an $11.5 billion contraction in major stablecoin supply over 30 days.</li>
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<p>According to The Kobeissi Letter, Bitcoin lost roughly $11,000 in three days, while cryptocurrency liquidations surpassed $2 billion during one rolling 24-hour period. The market commentary account estimated that digital assets had shed approximately $800 billion in combined market value since October 6.</p>
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   <p>Crypto is having an absolutely brutal weekend.<br><br>Bitcoin is now down -$5,000 today and -$11,000 over the last 3 days, marking one of its steepest drawdowns in months.<br><br>Selling pressure is accelerating as crypto liquidations officially crossed $2 billion over the last 24 hours.…</p>— The Kobeissi Letter (@KobeissiLetter) <a href="https://x.com/KobeissiLetter/status/2121729777891496181?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 14, 2026</a>
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<p>Bitcoin price later recovered toward $65,400, according to <a href="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC price data</a>, but remained below $70,000 after Friday’s breakdown. Its decline followed a short-lived recovery above $81,000 immediately after the US midterm elections.</p>
<p>You might also like: <a href="https://crypto.news/tom-lee-crypto-crash-five-reasons-supercycle/" rel="noopener noreferrer nofollow"> Tom Lee reveals 5 reasons behind crypto crash, says supercycle is not over </a></p>
<h2 class="wp-block-heading" id="strong-us-midterm-elections-and-technology-stocks-pressured-bitcoin-price-strong"><strong>US midterm elections and technology stocks pressured Bitcoin price</strong></h2>
<p>The November 3 midterm elections handed Democrats control of both the House of Representatives and the Senate, raising concerns about President Donald Trump’s cryptocurrency agenda.</p>
<p>Bitcoin initially dropped toward $75,600 as the results emerged, before recovering above $78,000 and reaching approximately $81,000 on November 4. As crypto.news <a href="https://crypto.news/bitcoin-price-reclaims-78000-us-midterm-election/" rel="noopener noreferrer nofollow">previously reported</a>, the election results raised questions about legislation intended to establish clearer rules for digital asset markets.</p>
<p>Although the initial selling reversed, uncertainty remained over whether a Democratic-controlled Congress would support Trump’s crypto-friendly policies. The president retains veto power, but Republicans no longer control the congressional agenda.</p>
<p>The market encountered another setback on November 5, when US technology stocks suffered heavy losses. The Nasdaq declined approximately 5.5%, while semiconductor stocks dropped around 12%. Bitcoin price followed the selling, losing 5.5% during the session.</p>
<p>Pressure returned on November 12 after Nvidia announced that <a href="https://crypto.news/jensen-huang-resigns-as-nvidia-ceo-as-bitcoin-falls-below-73000/" rel="noopener noreferrer nofollow">CEO Jensen Huang had resigned</a>. Its shares fell 12% at the open, while Bitcoin price slipped below $72,000 as investors continued reducing exposure to technology-related assets.</p>
<h2 class="wp-block-heading" id="strong-hotter-us-inflation-and-bitcoin-etf-outflows-weakened-demand-strong"><strong>Hotter US inflation and Bitcoin ETF outflows weakened demand</strong></h2>
<p>Inflation figures added another reason for investors to reduce risk. October consumer prices rose 0.4% from September, while core inflation increased 0.3%, both exceeding market expectations.</p>
<p>Coinbase Institutional’s November 13 research <a href="https://www.coinbase.com/institutional/research-insights/research/weekly-market-commentary/weekly-2026-11-13" rel="noopener noreferrer nofollow">said</a> futures markets were pricing 64 basis points of Federal Reserve rate increases over the following year, compared with 37 basis points at the beginning of November.</p>
<p>The research team argued that higher borrowing costs and a stronger dollar were weighing on Bitcoin, particularly after the cryptocurrency failed to recover alongside technology shares.</p>
<p>Institutional fund withdrawals compounded the selling. <a href="https://farside.co.uk/btc/" rel="noopener noreferrer nofollow">Farside Investors</a> recorded approximately $1.91 billion in net outflows from US spot Bitcoin ETFs across seven consecutive trading sessions between November 5 and November 13.</p>
<p>The November 9–13 week accounted for $1.065 billion in withdrawals. Friday’s $185.4 million outflow included $143.5 million from BlackRock’s IBIT and $41.9 million from Fidelity’s FBTC.</p>
<h2 class="wp-block-heading" id="strong-mara-bitcoin-sales-strategy-s-msci-removal-and-shrinking-liquidity-strong"><strong>MARA Bitcoin sales, Strategy’s MSCI removal and shrinking liquidity</strong></h2>
<p>Selling by corporate Bitcoin holders added pressure. MARA Holdings <a href="https://crypto.news/mara-sells-1-1-billion-bitcoin-q3-revenue-falls/" rel="noopener noreferrer nofollow">disclosed the sale</a> of 13,597 BTC for approximately $1.1 billion after the third quarter, using $750 million to repay Bitcoin-backed loans.</p>
<p>The transactions were disclosed in November, although they were not necessarily executed during the latest market decline.</p>
<p>Meanwhile, MSCI confirmed on November 11 that Strategy would be removed from its major equity indexes after the November 30 close. Index-tracking funds may need to sell MSTR shares, although the decision does not require Strategy to sell Bitcoin.</p>
<p>Liquidity conditions were deteriorating as well. Coinbase Institutional estimated that the combined circulating supply of USDT, USDC and DAI had contracted by $11.5 billion over 30 days, its largest recorded decline for those stablecoins.</p>
<p>The research firm recorded an average negative Coinbase premium of 0.13%, indicating that US buyers were paying less for Bitcoin than traders on offshore exchanges.</p>
<p>BitMine Chairman Tom Lee suggested another possible source of selling was the return of customer access to cryptocurrency following <a href="https://crypto.news/what-can-we-learn-from-the-binance-hack-and-recovery/" rel="noopener noreferrer nofollow">Binance’s October hack</a>. He argued that some customers might have converted restored balances into cash, although the amount sold has not been established.</p>
<h2 class="wp-block-heading" id="strong-bitcoin-liquidations-accelerated-the-fall-toward-62k-strong"><strong>Bitcoin liquidations accelerated the fall toward $62K</strong></h2>
<p>As Bitcoin price broke below $70,000, forced liquidations intensified the decline. CoinGlass data from November 15 showed approximately $1.96 billion in cryptocurrency positions liquidated over 24 hours, with Bitcoin accounting for nearly $750 million.</p>
<p>Around $600 million of Bitcoin’s liquidations involved long positions. Exchanges automatically closed leveraged trades when traders could no longer maintain the collateral required to keep them open.</p>
<p>In a post on X, The Kobeissi Letter reported more than $900 million in liquidations within four hours, adding, “Crypto is in desperate need of a new catalyst.”</p>
<p>Another explanation involved Anthropic’s planned IPO. In his <a href="https://crypto.news/tom-lee-crypto-crash-five-reasons-supercycle/" rel="noopener noreferrer nofollow">assessment of the crypto crash</a>, Lee suggested investors might be selling cryptocurrency to raise money ahead of the offering. However, the proposed connection remains a theory, with no established figures showing how much Bitcoin investors sold to participate.</p>
<p>Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.</p>
<p>Read more: <a href="https://crypto.news/coinone-data-breach-customer-support-hack/" rel="noopener noreferrer nofollow"> South Korea’s Coinone data breach may expose passwords, IDs, wallet addresses </a></p>

Bitcoin price crash explained: 8 reasons BTC plunged from $81K to $62K

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