Bitcoin Slides Below $71,000 to a 12-Week Low as Nvidia Turmoil and Hot US Inflation Rattle Markets
Bitcoin slid to a 12-week low on Friday, 13 November 2026, falling below $71,000 and briefly under $70,000 during Asian trading as a shock resignation at Nvidia, hotter-than-expected US inflation data and heavy withdrawals from US spot Bitcoin funds combined to drain confidence across crypto markets.
Bitcoin Selloff — Quick Reference Summary
| Detail | What Happened |
|---|---|
| Date | Friday, 13 November 2026 |
| Bitcoin low | Around $71,000 early Friday; below $70,000 later in Asian trading, intraday low $69,150 |
| 24-hour fall | About 4% |
| One-week fall | More than 6% |
| Ethereum | Around $2,007, testing $2,000 support |
| Main triggers | Nvidia CEO Jensen Huang resigns; US October CPI beats forecasts; US spot Bitcoin ETF outflows |
| Market mood | Crypto Fear & Greed Index at 20, in extreme-fear territory |
Nvidia’s Shock Exit Sends Wall Street and Crypto Lower
Nvidia co-founder Jensen Huang resigned as chief executive and chairman on Thursday, 12 November, after reports of extramarital affairs, including one involving a suspected Chinese spy, according to Reuters. The exit sent the Nasdaq 4.6% lower, the S&P 500 down 3.4% and the Dow 2.6% lower, while Nvidia shares closed 4.3% down after falling as much as 13% during the session. Bitcoin absorbed the shock quickly, falling 3.96% over 24 hours from around $74,050 to $71,120 by early Friday, its lowest reading in roughly 12 weeks.
Hot US Inflation Data Lifts December Rate-Hike Bets
US consumer prices rose faster than expected in October, with headline CPI up 0.4% month on month against 0.3% forecast, and core CPI up 0.3% against 0.2% expected. The hotter print pushed the odds of a Federal Reserve rate hike at its 8–9 December meeting to roughly 90%, while Reuters reported investors now see a 14.5% chance of a jumbo 50-basis-point hike, up from zero a week earlier. The two-year US Treasury yield hit a one-month high as traders repriced the path of interest rates, adding pressure to risk assets from stocks to crypto.
ETF Outflows and Forced Selling Drain Liquidity
US spot Bitcoin exchange-traded funds recorded about $1.44 billion in net outflows across five trading sessions through 11 November, with BlackRock’s IBIT marking an eighth consecutive day of net redemptions. Forced selling amplified the slide, wiping out around $680.8 million in leveraged cryptocurrency positions within 24 hours, including $325.3 million in Bitcoin positions. The total cryptocurrency market lost 5.09% of its value, bringing its capitalisation to approximately $2.42 trillion, while stablecoin supply contracted by $14.2 billion over 30 days, the largest drop since June 2022.
What Traders Are Watching Next: $70,000 and the PPI Print
Analysts now treat $70,000 as the key psychological threshold for Bitcoin, with a sustained break below it putting support near $65,000 in focus, while a recovery would first need to reclaim the $72,000 to $74,000 range. Attention turns to the latest US producer price inflation figures due later on Friday, 13 November, for further clues on interest rate movements. The scale of the slide is clear in the two-week picture: Bitcoin has fallen 11.9% from $80,668 on 5 November, while Ethereum has dropped 17.7% from $2,434 to $2,002 over the same window.
Bitcoin Selloff — Your Questions Answered
How low did Bitcoin fall on 13 November 2026?
Bitcoin dropped to around $71,000 early on Friday, its lowest in about 12 weeks, then briefly slipped below $70,000 in Asian trading to an intraday low of $69,150, with live market data showing it near $68,800 by 04:00 UTC.
Why did Bitcoin fall today?
No single cause explains the drop. The resignation of Nvidia chief Jensen Huang rattled global markets, hotter-than-expected US inflation data raised the odds of a December rate hike, and heavy outflows from US spot Bitcoin ETFs drained buying support.
What happened to Ethereum?
Ethereum fell to around $2,007, testing support near $2,000, with weekly losses of about 10% as the wider crypto market sold off alongside Bitcoin.
How much money left Bitcoin ETFs?
US spot Bitcoin ETFs recorded roughly $1.44 billion in net outflows over five trading sessions through 11 November, the largest stretch of withdrawals since late June.
Is Bitcoin going to zero?
Searches for “Bitcoin to zero” surged as the price fell, but nothing in the market data supports that outcome. Bitcoin still trades near $70,000 with a market capitalisation of about $1.48 trillion, and analysts are watching the $70,000 and $65,000 support levels rather than a collapse to zero.
