Bitcoin Price Prediction: BTC Falls Below $68K - Coinpaper

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.

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.

Institutional demand has also weakened. According to Farside Investors, spot Bitcoin ETFs recorded $299.8 million in net outflows on November 11, followed by a preliminary $47.7 million withdrawal on November 12. Across six trading sessions from November 5–12, reported withdrawals total approximately $1.49 billion.

Fed Rate Hike Fears Add Pressure

The cryptocurrency selloff has coincided with worsening sentiment across US technology stocks and growing expectations of tighter Federal Reserve policy. October's hotter-than-expected inflation report strengthened expectations of another interest-rate increase, while Treasury yields above 5% increased the appeal of dollar-denominated assets.

Higher borrowing costs can reduce demand for speculative investments, adding pressure to Bitcoin during periods of falling liquidity. Meanwhile, Strategy's removal from MSCI indexes has added uncertainty around corporate Bitcoin treasury companies.

Price Targets and Technical Outlook

Bitcoin's immediate technical outlook remains fragile following the loss of $70,000 support. The $67,500–$68,000 region is the first area to monitor. A sustained breakdown beneath the recent intraday low could expose $66,000, followed by the psychologically significant $65,000 level.

Conversely, a recovery above $70,000 would be an initial stabilization signal. Buyers would then need to reclaim $72,000–$73,000 before challenging the previous resistance near $75,000. The broader outlook has deteriorated from the earlier $76,000 resistance test, suggesting that buyers must establish a stronger support base before expecting a sustained rebound.