Bitcoin fell below $74,000 on Thursday 12 November 2026, trading at around $73,400 in London morning trading, in the latest leg of the Bitcoin price crash, as a five-day run of withdrawals from US spot exchange-traded funds and a sell-off in technology shares pushed the world’s largest cryptocurrency to its weakest level since August. Searches for “Bitcoin to Zero” surged at the same time, with one live trends tracker putting the phrase at more than 1.5 million searches in 24 hours, up 450%, across the United States, the United Kingdom and Canada.
The Bitcoin price crash has now wiped about 42% off the record high near $126,000 set in October 2025. Bitcoin has lost roughly 8.4% over the past seven days and about 12.3% over the past 30 days, and on Thursday it slipped below its 50-week moving average of $75,153, erasing a bullish signal from September that analysts had read as the start of a new bull run.
Bitcoin at a glance — 12 November 2026
| Bitcoin price | Around $73,400 (intraday low near $72,735). |
| 24-hour change | Down about 0.7%. |
| 7-day change | Down about 8.4%. |
| 30-day change | Down about 12.3%. |
| Record high (October 2025) | Near $126,000 — BTC about 42% below it. |
| 50-week moving average | $75,153 — price now below it. |
| US spot ETF outflows (5 days) | About $1.44 billion. |
| Crypto Fear and Greed Index | 28 — Fear. |
| Ether price | Around $2,025–$2,044, down about 0.5%. |
| Total crypto market value | $2.43 trillion, down 0.78%. |
Bitcoin price crash breaks below the 50-week moving average
Bitcoin’s slide below its 50-week simple moving average matters because technical analysts treat the line as a dividing mark between an uptrend and a downtrend. CoinDesk reported that the price fell below the $75,153 average on Thursday, reversing a September breakout that had convinced several analysts, including Galaxy Digital research head Alex Thorn, that a new bull run had begun. CoinDesk’s Daybook newsletter said that bullish view now stands invalidated, adding that analysts see $68,000 as the next level down and a reclaim of $80,000 as the move that would change the picture.
The coin has hovered between about $73,000 and $75,000 for several sessions, failing each attempt to hold above $75,000. Tuesday’s low of $72,727 was the weakest since 20 August, and the 200-day moving average near $73,200 is the line analysts say separates a shallow correction from a deeper one.
Five days of ETF outflows drain $1.44 billion from US spot funds
The steadiest drag on the price has come from fund flows. US spot Bitcoin ETFs recorded a net outflow of $299.9 million on Wednesday 11 November, according to SoSoValue data cited by CoinDesk, the fifth consecutive day of redemptions, taking the cumulative outflow since 5 November to about $1.44 billion. BlackRock’s IBIT fund alone lost $269.7 million on Wednesday, its ninth straight day of outflows.
The outflow streak marks a sharp reversal from the institutional demand that helped carry Bitcoin to its October record. With ETF buyers on the sidelines, the market has had little cushion against selling, and derivatives data points the same way: Bitcoin futures open interest fell 2.9% in 24 hours, while trading volumes dropped by more than a fifth.
Nvidia turmoil and hotter US inflation drag risk assets lower
The immediate trigger for Thursday’s slide came from the technology sector. Nvidia shares fell about 7% in pre-market trading after reports that the chipmaker’s board is preparing to remove chief executive Jensen Huang, and Nasdaq-100 futures gave back 0.6% of Wednesday’s rally. Bitcoin has tracked technology shares closely this year, and it fell alongside them as investors cut exposure to riskier assets. The Nvidia board is weighing ousting Jensen Huang as shares plunge — read the full story here: Nvidia board weighs ousting Jensen Huang as shares plunge.
A hotter-than-expected US inflation reading has added to the pressure. October consumer prices rose 0.4%, above the 0.3% forecast, in data released on 10 November, and traders have raised their bets on another Federal Reserve rate rise. The Fed meets on 8–9 December, with CME FedWatch pricing around a 90% chance of a hike, while the dollar index briefly topped 103, its highest since March 2025. CoinDesk’s market report has the full breakdown of Thursday’s slide.
Strategy’s MSCI exit adds pressure as Ether slides below $2,050
MSCI said it will remove Strategy, the largest corporate holder of Bitcoin, from its global indexes after the close on 30 November, reclassifying the company as an investment fund holding Bitcoin rather than an operating business. The decision removes a route through which index-tracking funds held indirect exposure to Bitcoin, and it landed on the same day the coin was already under pressure.
Ether, the second-largest cryptocurrency, fell about 0.5% to around $2,025–$2,044, and the wider crypto market lost 0.78% of its value to $2.43 trillion. Sentiment has turned fearful, with the Crypto Fear and Greed Index at 28. The Hindu BusinessLine reports that Bitcoin’s recovery from its 2026 low below $58,000 in July has now faltered: Bitcoin’s recovery from its 2026 low below $58,000 in July has now faltered.
What traders are watching next: the Fed, ETF flows and $70,000 support
Analysts are watching $70,000 as the next key support level, with $73,000 to $74,000 the zone Bitcoin must first hold. Above the price sit the short-term holder cost basis at $75,600 and the 365-day average at $76,400, levels the coin must reclaim to restore the bullish setup, according to CryptoQuant data.
The near-term triggers are the same ones that drove the slide: whether ETF outflows slow, what the Federal Reserve signals ahead of its December meeting, and whether technology shares stabilise. Bitcoin reclaimed $80,000 after the midterm dip last week — read how the rebound happened here: Bitcoin reclaimed $80,000 after the midterm dip last week. That rebound is a reminder of how fast the coin can reverse, but for now the sellers are in control, and the “Bitcoin to Zero” searches say fear, not confidence, is driving the conversation.
Your questions on the Bitcoin price crash, answered
Why is Bitcoin falling today?
Three pressures are hitting at once: US spot Bitcoin ETFs have lost about $1.44 billion over five straight days, Nvidia turmoil has dragged technology shares and risk appetite lower, and hotter-than-expected US inflation data has raised bets on another Federal Reserve rate rise in December.
How far has Bitcoin fallen from its record high?
Bitcoin is trading about 42% below its record high near $126,000, set in October 2025. It has lost roughly 8.4% over the past seven days and about 12.3% over the past 30 days.
Is Bitcoin going to zero?
No. Searches for “Bitcoin to Zero” surged on fear, but the price is about $73,400 and Bitcoin’s market value is about $1.49 trillion. The coin is in a deep correction, roughly 42% below its all-time high, not a collapse to zero.
What is the next support level for Bitcoin?
Analysts are watching $70,000 as the next key support, with $68,000 the level below that. Reclaiming $80,000 would change the technical picture, according to CoinDesk’s Daybook analysis.
When does the Federal Reserve next meet?
The Federal Reserve meets on 8–9 December 2026. Markets are pricing around a 90% chance of a rate hike, according to CME FedWatch data cited by CoinDesk.
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