Bitcoin plunges below $70,000 as liquidations reach $622M

Leveraged long traders took the brunt of a four-hour wipeout as Bitcoin hit an intraday low of $68,943

Bitcoin slipped under $70,000, and the traders who borrowed to bet on it going higher paid for it. Crypto liquidations hit $622 million in a span of just four hours.

The drop sent Bitcoin to an intraday low of $68,943 on November 13, 2026. It later steadied around $69,297, leaving it down 6% over 24 hours. For a market that was trading above $76,000 earlier in the same week, that is a rough few days.

How the slide unfolded

The sell-off did not arrive all at once. On November 12, Bitcoin was changing hands at approximately $70,796, already down 4.31% over the prior 24 hours.

Then the decline sped up. Bitcoin broke below the $70,000 line, a level it had held in recent sessions. Liquidation intensity maps, which chart where forced closures are likely to cluster, flagged long positions below $70,000 as especially exposed. Once price reached that zone, those positions started getting closed out in bulk.

Those automatic closures mean selling into a falling market. That selling pushes prices lower, which triggers the next batch of liquidations. It is a chain reaction, and the four-hour window captured it in full swing.