Bitcoin falls below $70,000 for the first time since August 20

Bitcoin fell below $70,000 early on Friday, November 13, 2026, for the first time since August 20, a day after it dropped under $72,000. The price was about $68,430 at 06:19 UTC, according to CoinGecko.

Update, November 14: Bitcoin near $67,000

Bitcoin kept falling after this article was first published. CoinGecko's hourly data shows a low of $66,691 at 04:00 UTC on Saturday, November 14. The last lower hourly reading was $65,888 on August 19. At 09:56 UTC the price was about $67,401, about 2.4% lower than 24 hours earlier, according to CoinGecko.

The US producer price index, published at 13:30 UTC on Friday, showed that producer prices rose 0.3% in October and 6.5% from a year earlier, the largest 12-month rise since November 2022, according to the Bureau of Labor Statistics. Chicago Fed President Austan Goolsbee told CNBC the same day that inflation is "going the wrong way" (our report on his comments).

US spot Bitcoin ETFs had net outflows of $1.07 billion in the week of November 9–13, after $1.28 billion in the week of November 2–6, and BlackRock's IBIT has now had 11 sessions of net outflows in a row, Cointelegraph reported, citing Farside Investors data.

What happened to the Bitcoin price

Bitcoin held near $71,400 through Thursday evening, UTC time, and then slid during Asian trading hours. The hourly reading went from $70,887 at 02:00 UTC to $70,188 at 03:00 UTC and $68,891 at 04:00 UTC, CoinGecko's data shows. The last hourly reading below $70,000 before that was $69,760 on August 20.

The 06:19 UTC price compares with about $73,520 at 06:00 UTC on Thursday and about $75,617 at 06:00 UTC on November 6, the nearest hourly readings, which gives the declines of about 6.9% and 9.5%.

What analysts told Cointelegraph

Cointelegraph reported that Vikram Subburaj, chief executive of the crypto exchange Giottus, attributed the weakness to institutional outflows, tighter liquidity in crypto markets and expectations that the Federal Reserve will raise interest rates in December. Fed Governor Christopher Waller said on November 10 that he was leaning toward a December increase.

The research firm 10x Research said Bitcoin had fallen 5.9% between November 5 and November 12 while the Nasdaq 100 gained 6.4%, and that Bitcoin was moving with Treasury yields and the dollar more than with technology shares, according to the report. The trading technology company Talos said the depth of Bitcoin order books on major exchanges was about a third below normal on November 9, which can make price moves larger in both directions, Cointelegraph reported.

These are the views of the people quoted. Markets do not publish reasons for price moves.

ETF flows

BlackRock's iShares Bitcoin Trust (IBIT) had more than $2 billion of net outflows over nine sessions in a row through Wednesday, and US spot Bitcoin exchange-traded funds (ETFs) as a group lost nearly $1.44 billion over five sessions, Cointelegraph reported. The daily figures in the TFTC flow tracker add up to the same totals. Our earlier article covered the fund outflows through November 10. Thursday's first figure of $47.7 million, which Cointelegraph took from Farside Investors data, did not yet include the BlackRock and Fidelity funds; the complete figure for the day was $284.1 million of net outflows, Cointelegraph reported on November 14.

What it could mean for traders

In our assessment, the fall through $70,000 extends a decline that has now run for more than a week without a single cause that can be shown. The points to watch are measurable ones: daily ETF flows and the Federal Reserve's December 8–9 meeting, for which the October producer price data, published on Friday, added to evidence of rising inflation. Thin order books cut both ways, and a sharp move in either direction would not by itself show a change in trend.