Bitcoin drops below $70,000 as crypto liquidations hit $622 million in four hours

By Khal · · 1 min read

Editorial illustration: A copper-colored Bitcoin coin falls through a broken stone ledge onto cracking glass blocks, surrounded by fragments against a dark background.
AI-generated editorial illustration · AI-generated editorial illustration · Published Nov 13, 2026, 4:00 a.m. (53 minutes ago)

In brief

  • Bitcoin hit an intraday low of $68,943 on November 13, per CoinGecko data cited by Crypto Briefing.
  • Liquidations totaled $622 million in four hours, mostly long positions, per CoinGlass data.
  • A $31.09 million Hyperliquid long, triggered near $72,250, was the largest single liquidation.
  • Crypto Briefing attributes the move to deleveraging rather than a change in fundamentals.

Longs took the bulk of the damage

The split was lopsided. CoinGlass data showed $549 million in long liquidations against $72.46 million in shorts, according to Crypto Briefing's report. More than 110,000 traders were affected, though that count covers the related 24-hour timeframe (not just the four-hour window).

Bitcoin had held the $70,000 line in recent sessions. Liquidation intensity maps (which chart where forced closures are likely to cluster) had flagged longs below that level as especially exposed, and those positions were closed out in bulk once price reached the zone, the outlet reported.

Then $70,000 gave way.

A $31 million Hyperliquid long went first

The single biggest liquidation was a $31.09 million long position on Hyperliquid, the decentralized derivatives exchange, per Crypto Briefing. The timing stands out. That position was triggered near $72,250, before Bitcoin had even reached $70,000.

Other majors weren't spared either. Ethereum saw around $120 million in liquidations and Solana roughly $23 million, Crypto Briefing reported.

A rough week for BTC

Bitcoin had traded above $76,000 in the same week. On November 12 it was changing hands at about $70,796 (already down 4.31% over the prior 24 hours), per CoinGecko data the outlet cited with a November 12, 10:19 PM EST timestamp.

Crypto Briefing also reported that spot Bitcoin ETFs had seen outflows of around $2 billion over three weeks, and that risk-off sentiment was weighing on markets. The outlet didn't name a source for the ETF figure.

So what drove it? Crypto Briefing's read is deleveraging, not a shift in Bitcoin's underlying fundamentals, based on research it cited without naming the author. That's the outlet's analysis rather than a settled conclusion, and it's being applied to a move that cleared $622 million in positions in four hours.

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