Bitcoin Falls to $66,600 as ETF Outflows Exceed $2.5 Billion

Bitcoin dropped to roughly $66,600 on Nov. 13, its weakest level since Aug. 19, as U.S. spot Bitcoin ETFs bled more than $2.5 billion in net outflows and stronger-than-expected U.S. inflation revived concerns about tighter monetary policy.

On Binance's Tether (USDT) market, Bitcoin traded near $67,000, down about 2% over 24 hours. The decline extended across major altcoins, which surrendered key price levels in succession. Ether fell roughly 2% into the $1,890 range after briefly touching about $1,880, breaching the $1,900 mark. XRP lost about 1% and traded below $1. Solana dipped under $75 before paring part of the loss, yet still sat roughly 4% lower than 24 hours earlier.

The selling pressure carried directly into derivatives markets. More than $330 million worth of positions were liquidated across the crypto market over the latest two hours measured that day, according to market data cited in the report.

Why are risk assets under pressure?

Stronger-than-expected U.S. inflation heightened expectations of tighter monetary policy. Rising Treasury yields and a stronger dollar, both fueled by rate-hike expectations, weighed on risk assets such as Bitcoin. A management reshuffle at Nvidia and volatility in AI-related stocks compounded the pressure on investor sentiment, extending the pullback across the broader crypto market.

Institutional demand weakened in parallel. Bloomberg reported that U.S. spot Bitcoin ETFs recorded more than $2.5 billion in net outflows from Oct. 30 through the time of publication on Nov. 13. That outflow streak removed a structural bid that had supported Bitcoin's earlier rally.

What could deepen the decline?

Jeff Mei, chief operating officer at crypto exchange BTSE, said Bitcoin and other cryptocurrencies could fall further if the Federal Reserve delivers a 50-basis-point rate increase instead of the expected 25-basis-point move. His assessment ties the next leg of crypto price action directly to the central bank's policy decision.

The synchronized nature of the drop matters for market structure. Bitcoin, Ether, XRP and Solana all fell together rather than rotating strength, signaling broad risk-off positioning rather than asset-specific weakness.

For exchanges and derivatives platforms, the $330 million liquidation cluster shows how quickly leverage unwinds when spot levels break. Further downside would depend on the Fed's rate decision and whether ETF flows stabilize.

The market's next test arrives with the Federal Reserve's meeting: a 50-basis-point hike, rather than the expected 25, would likely extend outflows and deepen the correction Mei outlined.