Overview
- The price slid under $98,000 during the latest downdraft, its third break below the psychological level this month after overnight rebounds repeatedly failed.
- More than $1 billion in leveraged positions were liquidated in 24 hours, including roughly $887 million from longs, with about 235,000 traders forced out and a single $44 million BTC long wiped on HTX, according to CoinGlass.
- U.S. spot Bitcoin ETFs saw $278 million in net withdrawals on Nov. 12, pushing month-to-date redemptions to roughly $961 million as long‑term holders accelerated distribution and spot buy‑side depth thinned.
- Macro headwinds worsened as odds of a December Fed rate cut slipped below 50% and fresh weak China data hit Asian equities, with sentiment sliding into Extreme Fear.
- Crypto equities fell hard with miners leading declines — Bitdeer dropped about 19%, Bitfarms 13%, and broader crypto stocks lost 7%–12% — while major tokens such as ETH and SOL fell roughly 7%–8%.