Bitcoin broke cleanly beneath the $70,000 threshold on November 13, sliding to three-month intraday lows between $67,568 and $67,922 before changing hands near $68,134 (-4.51% on the day) according to live CoinGecko data. The drop pulled Ether down to $1,916 (-4.15%), pushed Solana under $80 to $79.06 (-2.42%), and trimmed total crypto market capitalization toward the $2.35 trillion to $2.40 trillion zone.
This fresh leg lower deepens the risk-off slide tracked earlier in Bitcoin Breaks Below $72K, Ether Under $2,000 and extends the breakdown that began when BTC lost $74,000 after October CPI. Over the past 24 hours, cascading margin calls wiped out $1.3 billion to $1.65 billion in leveraged crypto futures—including roughly $870 million in Bitcoin long positions—sending the Crypto Fear & Greed Index down to 20 ("Extreme Fear").
October PPI Brings Relief, Only to Fade Into Spot Supply
Early U.S. morning trading briefly offered bulls a lifeline when the U.S. Bureau of Labor Statistics released the October 2026 Producer Price Index (PPI). Headline final-demand prices rose 0.3% month-over-month, below Wall Street's 0.4% consensus, while annual unadjusted producer inflation printed 6.5% year-over-year—still the steepest annual pace since November 2022, yet a notch under the 6.6% forecast. Core PPI matched expectations at 0.3% monthly.
| Market Driver (Nov 13) | Verified Figure | Immediate Market Impact |
|---|---|---|
| Live BTC / ETH / SOL | $68,134 / $1,916 / $79.06 | First sub-$70K BTC print since August |
| 24h Futures Liquidations | $1.3B–$1.65B (~$870M BTC longs) | Fear & Greed dropped to 20 (Extreme Fear) |
| U.S. October PPI (BLS) | +0.3% MoM (vs. 0.4% est.) / 6.5% YoY | Brief push toward $70K (~$39M short squeeze) |
| MARA Holdings Sale | 13,597 BTC (~$1.1B @ ~$81,039 avg) | Paid off $750M loans; freed 17,477 BTC collateral |
| Macro Rates & Dollar | DXY > 103, 10Y Treasury yield ~5.1% | Pressured risk assets & U.S. spot ETF flows |
Softer 0.3% monthly October PPI briefly calmed 50 bps rate-hike jitters before bond yields reasserted pressure. · Source: CoinPaladin Intelligence / OpenRouter AI
That tiny inflation miss sparked an immediate short squeeze back toward $70,000, liquidating roughly $39 million in short positions inside an hour as traders trimmed bets on an ultra-hawkish December Federal Reserve move. Yet the bounce stalled almost as fast as it appeared. With the U.S. Dollar Index hovering above 103, 10-year Treasury yields pressing 5.1%, and U.S. spot Bitcoin ETFs—notably BlackRock's IBIT—continuing a multi-session redemption streak, institutional bids stayed disciplined rather than chasing strength.
MARA's 13,597 BTC Sale and Thin Liquidity Depth
Adding to sentiment pressure, MARA Holdings disclosed in its third-quarter financial filings that it sold 13,597 BTC following quarter close for roughly $1.1 billion at an average realized price near $81,039 per coin. Management deployed $750 million of those proceeds to fully pay down Bitcoin-backed term loans with lenders including Coinbase Credit and Two Prime, releasing 17,477 BTC in encumbered collateral and cutting pledged holdings under 5%. The remainder helps fund AI and high-performance computing buildouts alongside a $500 million stock buyback program.
Corporate treasury deleveraging from miners like MARA met thinner stablecoin liquidity across derivatives order books. · Source: CoinPaladin Intelligence / OpenRouter AI
While MARA's sales occurred over recent weeks rather than in a single block dump, the disclosure landing simultaneously with a $14.2 billion 30-day drop in total stablecoin supply underscored how little spare dry powder currently cushions order books when leveraged longs unwind.
Key Levels Ahead
- Immediate Support ($67,500–$68,000): Holding today's intraday floor is crucial to prevent a vacuum flush toward the mid-$60Ks.
- Near-Term Resistance ($70,000–$72,000): Reclaiming $70,000 on closing daily candles—and stabilizing U.S. spot ETF flows—remains the first technical step toward arresting downside momentum.