Crypto Market Today: Bitcoin Falls Below $69K, Liquidations Top $1.3B, DTCC Picks Solana - Altcoin Buzz
Bitcoin fell below $69,000 on Friday, November 13, triggering more than $1.3 billion in crypto futures liquidations within 24 hours, with BlackRock's IBIT recording significant outflows.
Bitcoin fell below $69,000 on Friday, November 13, trading at $69,134.72 by 8:30 a.m. Eastern Time, $4,073.52 below its level the previous morning. The price decline triggered more than $1.3 billion in leveraged crypto position liquidations over 24 hours, with the bulk coming from bets that bitcoin would rise.
About $677 million of the liquidations were on bitcoin, with $653.5 million from long positions against $24.1 million from shorts. This forced selling came from traders who had borrowed to bet on higher prices. The single largest forced close was a long bitcoin position worth more than $31 million on Hyperliquid.
Thin order books exacerbated the price fall. Bitcoin's order-book depth across major exchanges fell to $72 million on November 9, roughly 33% below normal, according to Talos's weekly report. The drop coincided with a climb in the US 10-year Treasury yield above 5%.
ETF Outflows and Fear Index
BlackRock's IBIT recorded more than $2 billion in net outflows across nine consecutive trading sessions through Wednesday, part of nearly $1.44 billion that left all US spot bitcoin ETFs over five sessions. On November 11 alone, US spot bitcoin ETFs lost about $299.8 million, marking a fifth consecutive day of withdrawals, with IBIT accounting for around $269.7 million of it.
Market sentiment reflected the price decline, with the Crypto Fear & Greed Index reading 20 on Friday, indicating 'extreme fear'—its lowest reading in more than four months and a level last reached on July 8.
DTCC Chooses Solana
The Depository Trust & Clearing Corporation (DTCC) plans to enable the tokenization of eligible DTC-custodied assets on Solana, connecting its Tokenization Service to the network. The integration is planned for the second half of 2027, supporting the conversion of traditional assets into token form and managing their lifecycle.
DTCC is bringing regulated, DTC-tokenized securities to another major blockchain ecosystem, giving market participants greater choice in where they access and utilize tokenized assets while preserving the protections of traditional markets.
The move underscores DTCC's scale—the organization's subsidiaries processed securities transactions worth $4.7 quadrillion in 2025, and its depository subsidiary provided custody for securities from over 150 countries valued at $114 trillion.
Forward Industries and Injective
Forward Industries secured a $50 million credit facility at SOFR plus 150 basis points, with a two-year term, secured by SOL held in its treasury. The company continued buying through the sell-off, increasing its SOL holdings by 226,396 SOL (2.7%) from October 1 to November 9, at an average cost of $75 per SOL.
Meanwhile, Injective submitted its Veyra upgrade as governance proposal IIP-717 on November 12. The vote is open to INJ stakers and closes on November 16. If passed, the chain will move to version 1.21.0 at block height 193,145,000, targeted for November 24, and represents Injective's final major network upgrade of 2026.
Related
