Bitcoin falls below $70,000 as $870 million in bullish bets are liquidated

Bitcoin traded below $70,000 on Nov. 13 as heavy liquidations hit traders betting on higher prices, extending the crypto selloff against a backdrop of rate pressure and uncertainty at NVIDIA. CoinGlass recorded $869.89 million in Bitcoin long liquidations over the last 24 hours, compared with $31 million in short liquidations. Over four hours, it recorded $559 million in long liquidations and $16 million in shorts. By about 10:52 UTC, Bitcoin was down to $69,224 , with a rolling 24-hour low of $67,921. The liquidation figures measure forced closures of Bitcoin positions tracked by the provider, a different measure from the change in Bitcoin's market capitalization. Long positions benefit when prices rise.

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