Bitcoin Price Prediction: BTC Falls Below $68K

Key takeaways

• Bitcoin briefly breaks below $68,000 as selling accelerates
• Crypto liquidations approach $1.5 billion amid leveraged losses
• BTC faces $65,000 downside risk unless buyers reclaim $70,000

Bitcoin fell below $68,000 on November 13, extending its sharp November correction as leveraged liquidations approached $1.5 billion and institutional demand remained under pressure.

BTC touched approximately $67,568 during early trading before recovering toward $68,000-$69,000. The move followed Thursday's breakdown below $72,000, turning the previously important $70,000 level into a potential resistance zone.

According to CoinGlass liquidation data, approximately $1.47 billion in cryptocurrency positions were liquidated over 24 hours, including around $1.31 billion in leveraged longs. The figures highlight how forced selling has amplified the broader market downturn.

Bitcoin Liquidations Approach $1.5B as ETF Outflows Continue

Bitcoin's latest decline has triggered another wave of forced position closures as traders using leverage struggle to maintain bullish bets.

Approximately $798 million in crypto positions was liquidated over one four-hour period, with long positions accounting for $718.5 million.