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Bitcoin traded at $68,607.23 on Friday, Nov. 13, 2026, after slipping below the $70,000 level and losing 9.2% over the previous seven days, Cointelegraph reported. The move came as the Crypto Fear & Greed Index dropped to 20 — its weakest reading in more than four months and a level the gauge last touched on July 8 — placing sentiment in “extreme fear.”
Cointelegraph attributed the selloff to a mix of drivers: continued redemptions from US spot Bitcoin ETFs, thinner trading liquidity and general macroeconomic pressure. Stablecoin data from AMBCrypto painted a similar picture, with more than $14.20 billion leaving the stablecoin market over a four-week stretch.
Also read: Bitcoin Slips Below $80,000 as Fed Meeting and ETF Outflows Weigh
Key facts
- Bitcoin was at $68,607.23 on Friday, down 9.2% for the week, according to CoinGecko data cited by Cointelegraph.
- The Crypto Fear & Greed Index stood at 20, its lowest since July 8 and classified as “extreme fear.”
- BlackRock’s iShares Bitcoin Trust (IBIT) posted more than $2 billion in net outflows across nine consecutive sessions through Wednesday, per Cointelegraph.
- Bitcoin order-book depth on major exchanges fell to $72 million on Nov. 9, about 33% below normal, according to a Talos weekly report.
- AMBCrypto reported the stablecoin market cap slid below $300 billion, the lowest in 14 months, with Tether’s USDT trading under $1.
Bitcoin diverges from stocks and tracks gold
Vikram Subburaj, chief executive of the crypto exchange Giottus, linked the weakness to institutional selling, tighter crypto liquidity and expectations that the Federal Reserve will raise rates in December. He advised investors against chasing short-term dips or taking on heavy leverage.
A Friday note from 10x Research flagged an unusual split between Bitcoin and US equities. From Nov. 5 to Nov. 12, Bitcoin fell 5.9% while the Nasdaq 100 gained 6.4%. The firm said the cryptocurrency was responding more to rising Treasury yields and a stronger dollar than to technology shares, and was trading closer to gold, which lost 5.5% over the same window as the 10-year Treasury yield moved above 5%.
Talos warned that the combination of shallow order books and high leverage could sharpen price swings. Tanay Ved, a senior research associate at the platform, said liquidity was still thin while leverage stayed elevated, and that rebuilding order-book depth alongside a turn in capital flows would give the market a firmer base for recovery.
ETF and stablecoin outflows in focus
The two reports give different windows on fund withdrawals. Cointelegraph cited more than $2 billion in net outflows from IBIT over nine straight sessions and nearly $1.44 billion leaving the wider fund group over five sessions; preliminary Farside Investors data showed another $47.7 million of net outflows on Thursday, with BlackRock and Fidelity figures still pending. AMBCrypto, taking a longer view, put US spot Bitcoin ETF outflows at over $1.60 billion across 20 sessions, including roughly $299.90 million in the prior 24 hours, with Ethereum and Solana funds losing $144.81 million and $5.85 million respectively.
AMBCrypto also reported that USDT traded below $1 and that the total stablecoin market cap contracted from $313 billion to $298 billion in the fastest decline since June 2022. It noted two-way liquidations on Binance, with a liquidation index touching both its upper and lower bands more than three times each between September and November, and weak spot demand on the exchange.
Why it matters
Thin liquidity and shrinking stablecoin supply leave less fresh capital to absorb selling, which means individual trades can move prices further than they would in a deeper market. That raises risk for leveraged traders on both sides and makes the ETF flow trend a clearer signal of institutional appetite than day-to-day price action. The market has not been this light on stablecoin liquidity in more than a year.
What to watch
The December Federal Reserve rate decision is the main scheduled catalyst cited by analysts in the reports. Market participants will also be watching for a rebuild in Bitcoin order-book depth, a return of inflows to spot Bitcoin ETFs, and any turn back to growth in the stablecoin market cap, which AMBCrypto described as the first sign of new money.
This article is informational only and is not financial advice. Crypto markets are volatile and prices can change quickly.
Reported by Cointelegraph.
Sources: Cointelegraph, AMBCrypto