Bitcoin Drops Below $67,000 as Crypto Selloff Deepens
Bitcoin fell below $67,000 on Coinbase on Friday evening, setting a fresh four-week low as selling extended across major cryptocurrencies.
The exchange’s one-minute $BTC-USD candles recorded a $66,789 low in the minute beginning at 9:29 p.m. ET on Nov. 13. Its daily candles, covering Oct. 17 through that evening, showed no lower trade.
The trough was 5.4% below the $70,600 Coinbase low reported by The Defiant on Thursday evening. It also undercut the $68,222 low in Friday’s subsequent report, extending the decline rather than merely revisiting it.
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By 9:41:55 p.m. ET, CoinGecko quoted bitcoin at $67,399. Its loss over roughly four weeks stood at 17.3%, compared with ether’s 21.4% decline over the same window, according to The Defiant’s calculations. Over roughly seven days, bitcoin lost 11.3% and ether fell 15.3%.
Ether’s Four-Week Loss Runs Deeper
Selling Reaches Beyond Bitcoin and Ether
In a refreshed CoinGecko snapshot at 9:42:53 p.m. ET, 42 of 44 non-stablecoin tokens in a curated watchlist were lower over 24 hours. The selection includes large cryptocurrencies and DeFi tokens; it is not a count of the entire crypto market.
Solana fell 5.8%, BNB lost 3.5% and XRP declined 2.4%. Celestia had the largest loss in the selection, down 14.1%. GMX and Pendle were the only gainers, rising about 2% and 1.7%, respectively.
The decline followed signs of weaker funding into crypto. In a Nov. 11 report, analytics provider Glassnode said stablecoin supply had contracted by $14.2 billion over 30 days through Nov. 9, leaving “less fuel for a rally.” It also reported $1.6 billion in net outflows from U.S. spot bitcoin ETFs over 20 sessions through that date. Those figures predate Friday evening’s move and do not establish its cause.
Glassnode also identified buying by wallets holding 100 to 10,000 $BTC, although other wallet groups were still reducing their holdings.
