Bitcoin Drops to $69,040 Amid Liquidity Drain and ETF Outflows

Bitcoin is experiencing a period of extreme market fear and technical decline, trading at $69,040 as of November 13, 2026. The asset has fallen approximately 17% over the last month and 30.87% over the past year, leaving sellers in control of the market.

Bitcoin is currently testing a critical structural support level at the 200-week simple moving average of $67,925. Market sentiment is weighed down by significant liquidity drains, including a $14.2 billion drop in stablecoin supply over 30 days and roughly $2 billion in outflows from the iShares Bitcoin ETF. Additionally, demand for the asset may weaken as MicroStrategy loses MSCI index support.

Technical indicators suggest the asset is oversold, but a break below the 200-week support could push prices toward the $63,000–$66,000 range. A recovery would require the price to move above the daily 200 SMA of $73,109 and a return to positive ETF inflows.