Bitcoin Falls Below $67,000 as ETF Outflows Top $2.5 Billion

Bitcoin broke below $67,000 on Nov. 13, touching its lowest level in roughly three months as hot U.S. inflation data and accelerating outflows from spot ETFs compounded selling pressure across risk assets.

The token dropped as low as $66,915 on Binance's Tether (USDT) market, its weakest print since Aug. 19. Bitcoin had already sliced through the prior day's low of $67,568 before paring part of the decline to trade near $67,300, down about 4.3% over 24 hours.

What drove the selloff?

The trigger was macro. The consumer price index rose 0.4% in October month-over-month, while core CPI, which strips out food and energy, climbed 0.3%. Both readings came in hotter than markets expected, reinforcing concern that the Federal Reserve will keep tightening.

Rising Treasury yields and a stronger dollar, both driven by rate expectations, dented appetite for risk assets broadly — Bitcoin included. When yields rise, liquidity-sensitive assets tend to suffer first.

How much money has left the ETFs?

The institutional channel that supported Bitcoin's earlier rally is now working against it. U.S. spot Bitcoin ETFs have bled more than $2.5 billion in net outflows since Oct. 30 through the time of the Nov. 13 report, according to the data compiled in the original analysis.

That reversal matters structurally. ETF inflows were a key source of sustained buying demand this year; sustained outflows remove a structural bid and hand pricing power back to leveraged and momentum-driven traders.

What are market participants saying?

Rich Rosenblum, co-founder of trading firm GSR, said volatility in AI-related stocks and dollar strength forced liquidations of some long Bitcoin positions. He also pointed to a management change at Nvidia as an additional drag on broader risk sentiment — a reminder that crypto desks now trade in sympathy with the tech complex.

Jeff Mei, chief operating officer at exchange BTSE, warned that losses in Bitcoin and other cryptocurrencies could deepen if the Federal Reserve delivers a 50-basis-point rate increase rather than the 25 basis points markets currently expect. A larger hike would strengthen the dollar further and pressure valuations across the risk spectrum.

What happens next?

The immediate question is the Fed's next move. If the central bank opts for the half-point hike, the scenario Mei outlined — deeper crypto losses — becomes the base case for many desks. If it sticks to 25 basis points, the selloff may find a floor near current levels.

Traders will also watch whether ETF outflows extend into a third consecutive week. A stabilization in fund flows would signal the institutional retreat is pausing; continued billion-dollar-plus weekly exits would remove the market's largest structural buyer just as macro pressure peaks.

Until the Fed's decision lands, Bitcoin is trading on macro headlines rather than its own fundamentals — and the downside scenario is the one with the clearer trigger.