Bitcoin and ether hit lowest since July as $2 billion liquidated

Bitcoin fell as low as $62,112 in Asian trading on Sunday, Nov. 15, its weakest level since July 14, and ether dropped to $1,711, its lowest since July 8, straitstimes.com reported, citing Bloomberg. About $2 billion of leveraged positions were wiped out across exchanges in 24 hours, most of them longs.

By 07:57 UTC bitcoin had recovered to about $63,900, down 4.9% over 24 hours, and ether traded near $1,781, down 6.3%, per CoinGecko. Both coins had peaked around 10:00 UTC on Saturday at roughly $67,360 and $1,912.

What pushed bitcoin below $63,000

The slide is a continuation of the Nasdaq-led selloff on Nov. 6, but it now runs on leverage. In the 24 hours through 7 a.m. Singapore time on Sunday, exchanges tracked by CoinGlass recorded about $2 billion in crypto liquidations, including $774 million in bitcoin and $488 million in ether, according to the same Bloomberg report. On Nov. 13 a smaller wave had already flushed out roughly $1.3 billion in long bets.

Rich Rosenblum, co-founder of market maker GSR, called it “a technical move,” saying bitcoin broke through its 200-day moving average near $73,000, which set off liquidations and drew in new shorts.

Fund flows have removed a steady buyer. US spot bitcoin ETFs had seven straight sessions of net outflows from Nov. 5 to Nov. 13, totaling about $1.91 billion, according to farside.co.uk data. BlackRock’s IBIT accounted for about $1.42 billion of that, and Friday alone saw $185.4 million leave.

Rates are the third weight. Traders have been pricing a higher path since the Fed held rates as two officials voted for a hike in October. Analysts quoted by Bloomberg also pointed to an AI-driven risk-off mood and the lingering fallout from the Binance hack, which led to the $1.2 billion seizure tied to the Binance hack earlier this week. Richard Galvin of DACM suggested the upcoming Anthropic IPO may be pulling retail money away from crypto, comparing the price action to the SpaceX IPO pricing period earlier this year.

The data to watch next week

The first test is Monday’s ETF flow print. An eighth session of outflows would stretch the streak further, while a return of inflows would show whether dip buyers are back.

The second is the Fed. The federalreserve.gov calendar lists minutes of the Oct. 27-28 meeting for Wednesday, Nov. 18, and traders will read them for how many officials backed a hike before the Dec. 8-9 meeting.

Bitcoin is down about 25% since Oct. 21. Its 2026 low remains $57,742, set on July 1.