Bitcoin fell to about $62,080 on Sunday 15 November, its lowest level since July, as roughly $2 billion of leveraged crypto positions were wiped out and US spot Bitcoin ETF outflows stretched to seven straight sessions. It has since bounced to around $64,700, but sentiment is at extreme fear and traders are now watching whether $62,000 holds or $60,000 comes next.
Key takeaways
- Bitcoin touched $62,086 on Sunday, its lowest since 13 July, before recovering to about $64,700, Investing.com reported. It is down roughly 14–15% over seven days.
- About $2 billion of crypto positions were liquidated in 24 hours, including $774 million in Bitcoin and $488 million in Ether, mostly longs, according to CoinGlass data.
- US spot Bitcoin ETFs lost about $1.91 billion over seven sessions to 13 November, per Farside Investors data cited by crypto.news.
- The Crypto Fear & Greed Index sits at 10, “extreme fear”, deep in extreme-fear territory.
- Key levels: support near $62,000, then $60,000 and $59,800; resistance around $65,600, then $68,000–$70,000.
Why is Bitcoin falling today?
Bitcoin’s weekend slide was a leverage flush on top of a week of steady selling. The price broke below its 200-day moving average, near $73,000, which “caused a slew of liquidations and new shorts to develop,” Rich Rosenblum, co-founder of market maker GSR, told Bloomberg, as reported by Mint. It then fell through the 200-week average near $68,000 and kept going.
The drivers stack up on several fronts:
- Forced selling: CoinGlass data showed roughly $2 billion of crypto liquidations in the 24 hours to Sunday morning in Asia. Long positions made up nearly 80% of Bitcoin’s share.
- ETF outflows: US spot Bitcoin ETFs saw net redemptions of $185.4 million on Friday, led by BlackRock’s IBIT, following $284.1 million on Thursday and $299.8 million on Wednesday. ETFs do not trade at weekends, so the next flow figures arrive after Monday’s US session.
- Fed hike bets: hot US inflation data last week has markets pricing a December rate hike, which lifts yields and the dollar and weighs on speculative assets.
- Capital rotation to AI: several executives blame the Anthropic IPO. Xapo Bank CEO Seamus Rocca said subscription books were six times oversubscribed, pulling money from liquid markets, and that “near-term price action is being driven by capital rotation rather than any deterioration in Bitcoin’s fundamentals.”
- Thinner liquidity: stablecoin supply has shrunk by about $17 billion over the past month, Investing.com reported.
Is $60,000 the next stop for Bitcoin?
It is the level most traders have in their sights. Immediate support sits near Sunday’s $62,000 low, with $60,000 and roughly $59,800 below that, according to crypto.news. Blockchain analytics firm Glassnode flagged a cluster of potential liquidations between $59,500 and $62,600, so a break of Sunday’s low could trigger another wave of forced selling.
On the daily chart, the relative strength index (RSI) was about 22.5, deep in oversold territory, but the MACD was still negative, a sign that bearish momentum has not turned yet. On the upside, resistance is around $65,600 and then the $68,000–$70,000 zone, close to the 200-week average near $68,000. A move back above that zone would ease the pressure; another drop below Sunday’s low would put $60,000 back in focus.
Opinion is split. Analyst Michaël van de Poppe called it “a super rare, leverage-flush-driven correction”, comparing the three-day drop to the COVID and FTX crashes. Another widely followed analyst, Doctor Profit, said $57,000 is his bear-market bottom and that sellers win only below that level. Follow the latest moves on our Bitcoin news page.
How are Ether and the altcoins holding up?
Worse than Bitcoin in many cases. Ether fell to about $1,806, XRP to around $0.95 and Solana to about $71, Investing.com reported on Sunday afternoon. Ether liquidations alone reached $488 million. Total crypto market value has slipped to about $2.19 trillion, its lowest since January, according to CoinMarketCap data cited by Mint, while Bitcoin’s market share is close to 59%.
Corporate holders are feeling it too. Strategy, the largest listed Bitcoin holder, owns 850,364 BTC worth about $54.8 billion at Saturday’s prices against a cost of $64.16 billion. MSCI will also drop Strategy from its global indexes after the 30 November close, CoinDesk reported, which could make it harder for the company to fund new Bitcoin purchases.
What should crypto traders watch this week?
- Sunday’s low near $62,000: a daily close below it would put $60,000 and the $59,500–$62,600 liquidation cluster in play.
- Monday’s ETF flow data: an eighth day of outflows would confirm institutions are still selling; a return to inflows would be the first sign of relief.
- Nvidia earnings on Tuesday and the Anthropic IPO on Thursday: both test AI risk appetite, which has been pulling money away from crypto.
- US retail sales and Fed minutes: strong data or hawkish minutes could lift yields and the dollar again.
- Funding and open interest: rebuilding leverage after a flush can fuel sharp rebounds, and sharp reversals.
Liquidation cascades can move prices thousands of dollars in minutes, so position size and stop placement matter more than usual. Our trading-the-news strategy guide explains how to manage risk around big events. For a wider view of the dollar and rates, see our forex news hub.
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FAQ
Why did Bitcoin fall to $62,000?
Bitcoin dropped to about $62,080 on 15 November after breaking key moving averages, which triggered around $2 billion of crypto liquidations, mostly long positions. Seven straight days of US spot ETF outflows, expectations of a December Fed rate hike and money moving into AI stocks ahead of the Anthropic IPO added to the selling.
Is this the lowest Bitcoin price since July?
Yes. Sunday’s low of about $62,086 was Bitcoin’s lowest level since 13 July 2026, according to Investing.com. Bitcoin has lost around 14–15% over the past seven days and recovered to roughly $64,700 later on Sunday.
What are the key Bitcoin support and resistance levels?
Support is near $62,000, then $60,000 and about $59,800, according to crypto.news. Resistance sits around $65,600 and then $68,000–$70,000. Glassnode data shows a cluster of potential liquidations between $59,500 and $62,600, which could speed up any break lower.
What does a Fear & Greed reading of 10 mean?
The Crypto Fear & Greed Index runs from 0 to 100, and readings below 25 count as “extreme fear”. A reading of 10 means sentiment is very negative. Some traders see extreme fear as a contrarian signal, but it does not mark a bottom on its own and can last for weeks.
How much have Bitcoin ETFs lost this month?
US spot Bitcoin ETFs saw about $1.91 billion of net outflows over seven sessions from 5 to 13 November, according to Farside Investors data, and nearly $3 billion between 30 October and 13 November, according to Investing.com. The next daily figures come after Monday’s US session.
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