Why Is Bitcoin Down Today? BTC Falls Below $67,000 as Leverage Unwinds

The Defiant reported that Bitcoin traded below $67,000 on November 14, extending its loss over roughly four weeks to 17.3%. CoinGlass recorded a November 14 intraday low of $66,456 on Binance’s BTCUSDT market, following a November 13 close of $68,314.

The decline had already accelerated a day earlier. The Block reported Bitcoin at $68,408 at 12:10 a.m. ET on November 13, down 7% over 24 hours and at its lowest level since August 20.

The derivatives data shows leveraged long exposure being removed as Bitcoin fell. CoinGlass data cited by The Block showed $1.47 billion of crypto liquidations over 24 hours, including $1.31 billion in long positions.

CoinDesk reported a separate 24-hour total of $1.64 billion, with longs accounting for 88.7% and Bitcoin positions for $916 million. The two totals should be read as distinct reported snapshots, not combined.

At its November 14 snapshot, CoinGlass showed Bitcoin futures open interest at $45.89 billion, down 4.28% over 24 hours. The same snapshot recorded $291.04 million in tracked Bitcoin liquidations over the preceding 24 hours, including $245.53 million in longs.

The weakness was not confined to Bitcoin. The Defiant reported that Ether lost 21.4% over the same roughly four-week period, underperforming Bitcoin. It also found that 42 of the 44 non-stablecoin tokens in its curated watchlist were lower over 24 hours.

For a trader comparing centralized exchanges with self-custody and on-chain perpetuals, that breadth makes venue-specific risk checks more useful than treating Bitcoin’s move in isolation. The documented liquidation and open-interest figures make current leverage, liquidation thresholds and available margin the immediate items to inspect before changing venues or position structure.

CoinDesk reported that U.S. spot Bitcoin ETFs recorded $47.7 million of net withdrawals on November 12. That extended a six-session outflow streak to approximately $1.44 billion.

What initiated the selloff before forced liquidations amplified it remains unproven. The supplied reporting points to several concurrent factors rather than one demonstrated trigger, so the defensible conclusion is that deleveraging deepened the move, not that one catalyst has been conclusively established.

The next checks are observable market data and scheduled events, not a price forecast:

• Whether Bitcoin reclaims and holds $70,000 after the derivatives deleveraging.
• Whether price revisits or breaks CoinGlass’s November 14 intraday low of $66,456 on Binance’s BTCUSDT market.
• Whether Bitcoin futures open interest stabilizes after CoinGlass’s 4.28% 24-hour decline to $45.89 billion.
• Whether U.S. spot Bitcoin ETF redemptions continue after the six-session outflow streak reported by CoinDesk.
• How incoming inflation data and the Federal Reserve’s December 8-9 decision alter rate expectations and crypto risk appetite.

Those checks do not resolve how much leveraged long exposure remains vulnerable; they provide a way to test whether deleveraging is continuing or easing.