Bitcoin’s price decline takes it below $70,000 as crypto liquidations hit $1.64B

The bitcoin price decline pushed the cryptocurrency below $70,000 on November 13, reaching $67,770 as expectations of a Federal Reserve rate increase lifted the dollar and crypto liquidations reached $1.64 billion. Ether fell to $1,900, leaving both assets at their lowest levels in about 12 weeks. Key takeaways Bitcoin touched its lowest price since August 19; ether reached its lowest since August 18. CME’s FedWatch tool put the probability of a December quarter-point rate increase at 88%. Long positions accounted for 88.7% of crypto liquidations over 24 hours. U.S. spot bitcoin ETFs recorded approximately $1.44 billion in withdrawals across six consecutive sessions.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to The Cryptonomist.