Bitcoin below $67,000: $330 million evaporated in two hours

“The important thing is not the fall, it’s the landing. » (La Haine, Mathieu Kassovitz, 1995) Friday the 13th, continuation and end.

Bitcoin broke $67,000 around 4:45 a.m. this Saturday morning, its lowest since August 19, and $330 million in leveraged positions were automatically closed in two hours. Friday's session had already cost traders $1.6 billion after last week's billion in liquidations; Asian night finished the job.

The key points of this article:

BTC touched $67,032 overnight, a level not seen since mid-August.

Bullish bets account for nearly 89% of contracts forcefully closed over 24 hours.

American index funds lose money for the sixth session in a row.

The market gives an 88% chance of a Fed rate hike on December 9.

Bitcoin at $67,000: overnight figures

At 4:17 a.m. Paris time, CoinGecko showed bitcoin at $67,380. The range over the past 24 hours is $70,045 to $67,032, and it’s this bottom that matters now. Want the full photo? Over one week, BTC dropped almost 10%. Since its record of October 6, 2025 at $126,080, the decline has reached 46.6%. Sixth consecutive week in the red.

Altcoins have not been spared. Around 4:45 a.m., Ether fell below $1,900, XRP below $1, and Solana below $75, with SOL falling more than 5% in 24 hours. Liquidations on the crypto market reached 1.64 billion dollars on Friday according to CoinGlass, including 916 million on bitcoin alone and 289 million on Ether. Long positions, these bets on the increase financed on credit, represent 88.7% of the breakage. The largest of these was worth $31.1 million, on Hyperliquid, opening at $72,250.

Futures volume jumped 58% to $269 billion while open positions fell 4.6% to $120 billion, meaning traders are closing and exiting rather than repositioning. The Fear and Greed Index, which measures market sentiment from 0 to 100, fell to 19, in the extreme fear zone, according to CoinDesk's tally published Friday.

Why bitcoin is falling: the Fed, not Binance

Look for the culprit on the side of Washington rather than on the side of the hackers. The dollar index, which measures the greenback against major currencies, rose back above 103 on Friday, its highest since April 2025. Behind this movement, a hotter inflation figure than expected this week and a market which has shifted. The CME's FedWatch tool gives an 88% probability of a 25 basis point increase at the December 8-9 meeting, and even 12% of a 50 point tightening. A rising dollar and rising bond yields automatically mean less appetite for risky assets.

Coinbase Institutional says the same thing in its weekly note published Friday. For its analysts, the decline in bitcoin is primarily due to the change in expectations about Fed policy, not to the Binance hack that occurred at the end of October. The resignation of Jensen Huang from the head of Nvidia on Thursday, which caused the chip manufacturer's stock to lose 4%, added a layer of nervousness to all of tech, which bitcoin follows closely.

The options confirm this reading. The price gap between downward and upward protections on bitcoin rose to 14% over a week: hedging against a relapse costs significantly more than betting on a rebound. On Ether, the most traded contract Friday was an $1,800 put that expires Nov. 20, according to CoinGlass data.

Bitcoin ETF: six exit sessions

Index funds no longer amortize anything. U.S.-listed spot Bitcoin ETFs lost another $47.7 million on Thursday, the sixth straight session of withdrawals, for a total of about $1.44 billion over the period. Since November 1, Farside Investors estimates net outflows at 1.88 billion. Large holders who converted their bitcoins into ETF shares in recent weeks, for fear of kidnappings, therefore chose the wrong time to change vaults.

Do you hold your positions on credit? Fundings are slightly negative on BTC, ETH, XRP, and SOL, meaning short sellers are paying buyers to hold their bets. The market demands bearish exposure, and it is ready to compensate for it.