Bitcoin Plunges Below $67,000 for First Time in 12 Weeks as $250 Million Liquidated in Minutes

Bitcoin dropped sharply to below $67,000 on November 14, hitting its lowest price in 12 weeks, as a rapid wave of forced selling swept through the crypto market. Around $240 million to $250 million was liquidated from the broader crypto market in approximately 20 minutes, with longs bearing the brunt of the damage. Ethereum was pulled down alongside Bitcoin, falling below $1,900 during the same window.

The sell-off translated into $41.17 million in Bitcoin long liquidations in a single hour across Binance, Bybit, and OKX alone, with Bitcoin declining 1.57% in that same hour. The actual market-wide liquidation total was higher, as those three exchanges do not capture the full picture. The speed and scale of the forced unwinds pointed to a heavily leveraged market caught offside by the sudden move lower.