From Coinpedia · By Anjali Belgaumkar
Bitcoin fell to $68,617, its lowest level in three months. The sell-off forced out hundreds of millions of dollars in leveraged bets within an hour, and XRP dropped to the $1 mark. Bitcoin is down 6.6% over 24 hours and 9.5% over the week. Ethereum fell 6.0% to $1,926.48 and has lost 13.7% in seven days. About $60 billion was wiped off the total crypto market value in four hours, according to reports.
Advertisement How Fast the Selling Hit
The drop started when Bitcoin broke below $72,000. It then fell through $70,000 and $69,000, and each break set off more forced selling.
Liquidation figures differ by source, but every count shows a sharp spike:
Early in the slide, $175 million was liquidated in 30 minutes as Bitcoin lost $70,000 and Ether fell below $2,000.
Others reported $225 million in liquidations over 60 minutes: $176.6 million in longs and $49.3 million in shorts.
Later counts shared on X put the one-hour total above $440 million, with $417 million coming from long positions.
Coin Bureau put the liquidations at over $500 million in a single hour.
Most of the losses fell on traders betting on higher prices. When the market moves against them, their positions are closed automatically, and that selling adds to the drop.
XRP Tests $1
XRP is trading at $1.00, down 4.5% in 24 hours and 17.5% over the past week. That is the steepest weekly loss among the top 10 coins. Its market value has shrunk to about $63.8 billion.
The token was near $1.05 to $1.06 earlier in the week. It is now sitting right on the $1 level, which traders watch closely as a psychological floor.
Altcoins Take a Bigger Hit
Large altcoins have dropped harder than Bitcoin over the week:
Ethereum: $1,926.48, down 6.0% in 24 hours and 13.7% over the week
Solana: $78.39, down 6.0% in 24 hours and 13.2% over the week
BNB: $632.16, down 6.9% in 24 hours and 9.0% over the week
TRON: $0.3107, down 1.8% in 24 hours and 2.1% over the week
ETF Money Keeps Leaving
Selling from spot Bitcoin ETFs in the United States has added to the pressure. From November 5 to November 11, the funds recorded five straight days of net outflows:
November 5: $430.2 million
November 6: $411.9 million
November 7: $201.0 million
November 10: $95.0 million
November 11: $299.8 million
That comes to about $1.44 billion in five sessions. BlackRock’s IBIT alone lost $269.7 million on November 11, its ninth outflow session in a row, which brings its total for the run to about $2 billion.
Macro Pressure Builds