Why is Bitcoin Falling? ETH And XRP Prices Crash As $60 Billion Leaves Crypto - Coinpedia
Bitcoin dropped to $68,617, its lowest level in three months, while Ethereum and XRP prices crashed as $60 billion was wiped off the total crypto market value in four hours.
The cryptocurrency market experienced a significant sell-off as Bitcoin fell to $68,617, its lowest level in three months. The drop forced out hundreds of millions of dollars in leveraged bets within an hour, with XRP dropping to the $1 mark. Bitcoin is down 6.6% over 24 hours and 9.5% over the week, while Ethereum fell 6.0% to $1,926.48 and has lost 13.7% in seven days.
Liquidation Surge
The drop accelerated when Bitcoin broke below $72,000, then fell through $70,000 and $69,000, with each threshold triggering more forced selling. Liquidation figures varied by source but all showed a sharp spike. Early in the slide, $175 million was liquidated in 30 minutes as Bitcoin lost $70,000 and Ether fell below $2,000. Other reports cited $225 million in liquidations over 60 minutes, with $176.6 million coming from long positions and $49.3 million from shorts.
Most of the losses fell on traders betting on higher prices. When the market moves against them, their positions are closed automatically, and that selling adds to the drop.
Altcoin Decline
XRP is trading at $1.00, down 4.5% in 24 hours and 17.5% over the past week, marking the steepest weekly loss among the top 10 coins. Its market value has shrunk to about $63.8 billion. Large altcoins have dropped harder than Bitcoin over the week, with Solana down 13.2% and BNB down 9.0%.
ETF Outflows Continue
Selling from spot Bitcoin ETFs in the United States has added to market pressure. From November 5 to November 11, the funds recorded five straight days of net outflows totaling about $1.44 billion. BlackRock's IBIT alone lost $269.7 million on November 11, its ninth outflow session in a row, bringing its total for the run to about $2 billion.
Broader Market Pressure
The crypto sell-off is part of a wider pullback from risk assets. Hotter-than-expected October inflation data has raised bets that the Federal Reserve could hike rates in December. The US 10-year Treasury yield has climbed to 5.00%, making holding non-yielding assets like Bitcoin less appealing. Gold has also not held up as a safe haven, trading near $3,953, about 25.7% below its peak.
Bitcoin's market value has fallen to about $1.38 trillion, sitting about 46% below its record high of around $126,198 set in October 2025. On the chart, Bitcoin keeps posting lower highs, with buyers needing to win back $70,000 and then $72,000 to reverse the trend.
Related
