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Bitcoin falls near $63,000 as crypto liquidations pass $1.9 billion

Bitcoin slid about 13% over the week and moved toward $63,000 as weekend selling went on. Liquidations passed $1.9 billion and crypto ETFs lost $1.5 billion, hitting investors across the market.

Illustration: A single glossy physical bitcoin coin showing the Bitcoin logo, tipped over on its edge on a smooth coral surface in soft daylight.
Illustration

On Saturday, Bitcoin traded near $65,600 after weekend selling broke below Friday's low. The drop cut through several support levels, meaning prices where buyers have often stepped in before, including the key $70,000 zone. That leaves deeper areas of demand exposed.

Illustration: A small glossy golden Dogecoin-style dog-shaped token lying alone on its side beside a few other plain unmarked round tokens, seen from above on a coral surface, with long soft shadows suggesting a quiet weekend afternoon.
Illustration

Investors pulled more than $1 billion out of US spot Bitcoin exchange-traded funds (ETFs), which let people buy the coin through a regular brokerage account, for a second week running. The selling spread across most digital asset funds. Avalanche ETFs were the only one of 15 tracked groups to take in net new money.

Bitcoin$63,916down −22.13%over 1 month
$84,082$63,97616 Oct15 Nov

Prices by CoinGecko. Past moves say nothing about future ones.

Also in this story

Etherdown −26.94%1 monthXRPdown −28.89%1 month

Liquidations, which are forced closures of bets made with borrowed money, added to the pressure. Binance alone saw near $800 million in them. Ether fell another 5% as the Ethereum Foundation kept selling.

Liquidations in the selloff

  • Binance liquidations800 million $
  • All crypto liquidations1,900 million $

Liquidation totals as stated in the material.

XRP fell more than 10% this week and dropped below $1.00, hitting a 2-year low. It is now testing the support zone that started its August rally. Dogecoin traded at $0.062, down 3.2% in 24 hours, its lowest level since October 2023, amid a wider selloff in meme coins.

$1,000 in Bitcoin

Had you put $ into Bitcoin a month ago, it would be worth – now.

From the prices in the chart, before any fees or taxes. Not a suggestion to buy or sell.

Background

Coinbase's November 10 distribution placed roughly 855,000 BTC near current prices. XRP has been selling off since November.

GuideCrypto Fear and Greed Index today: how fearful or greedy the crypto market is

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Bitcoin, Ether, XRP

This article is not investment advice. It was written by our automated newsroom from published reports and official statements, using only the facts in them, and not read by a person before it was published. Report a mistake

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