Key Takeaways
- • Bitcoin fell below $66,000 on November 14, 2026, after losing the $70,000 level a day earlier, with the selloff deepening toward the $64,000 region according to Coinpaper.
- • Ethereum slipped below $1,850 and approached $1,800 in the same session, reinforcing weakness across the two largest cryptocurrencies.
- • Coinbase Institutional reported a record $11.5 billion contraction in the combined supply of USDT, USDC and DAI over 30 days, removing a potential source of buying liquidity.
- • Farside Investors data shows U.S. spot Bitcoin ETFs lost approximately $1.07 billion between November 9 and November 13, with Ethereum funds recording $398.9 million in net withdrawals.
- • Interest-rate futures priced roughly 64 basis points of Federal Reserve hikes over the next 12 months, up from 37 basis points earlier in November, after stronger-than-expected inflation and employment data.
Summary
Bitcoin's November selloff has deepened toward the $64,000 region, while Ethereum has fallen toward $1,800, as institutional withdrawals, shrinking liquidity and renewed expectations of Federal Reserve rate hikes pressure cryptocurrency markets. BTC fell below $66,000 on November 14 after losing the $70,000 threshold a day earlier, and Ethereum slipped below $1,850 in the same period.
According to Coinbase Institutional's latest market report, the combined supply of USDT, USDC and DAI declined by a record $11.5 billion over 30 days, removing a significant source of potential buying liquidity. With fewer digital dollars in circulation, the market may have less readily available capital to absorb selling pressure. Coinbase also reported that interest-rate futures were pricing approximately 64 basis points of Federal Reserve hikes over the following 12 months, up from 37 basis points earlier in November. Higher borrowing costs can reduce demand for speculative assets such as Bitcoin and Ethereum.
Institutional demand has weakened considerably during the correction. Farside Investors data shows U.S. spot Bitcoin ETFs lost approximately $1.07 billion between November 9 and November 13, while Ethereum funds recorded $398.9 million in net withdrawals. BlackRock's IBIT accounted for roughly $908 million of the Bitcoin ETF outflows over those five trading sessions. CoinGlass data cited in recent market reporting indicated approximately $1.47 billion in cryptocurrency liquidations over a 24-hour period on November 13, mostly affecting leveraged long positions. Ethereum saw a separate $259 million liquidation wave among traders who had positioned for a rebound above $2,000. The selloff also coincides with rising U.S. Treasury yields and pressure on technology stocks.
Bitcoin's next key technical reference is $62,000, a level Coinbase Institutional identified before the latest decline. If BTC cannot stabilize above that region, $60,000 becomes the next major psychological downside target, while recovering $66,000–$68,000 would improve the immediate outlook without necessarily reversing the wider correction. Ethereum faces a similar test around $1,800; a sustained break below that level could expose $1,750, while reclaiming $1,850–$1,900 would signal initial stabilization. Further direction may depend on upcoming U.S. economic data and whether ETF withdrawals begin to slow.
According to Coinbase Institutional's latest market report, the combined supply of USDT, USDC and DAI declined by a record $11.5 billion over 30 days, removing a significant source of potential buying liquidity. With fewer digital dollars in circulation, the market may have less readily available capital to absorb selling pressure. Coinbase also reported that interest-rate futures were pricing approximately 64 basis points of Federal Reserve hikes over the following 12 months, up from 37 basis points earlier in November. Higher borrowing costs can reduce demand for speculative assets such as Bitcoin and Ethereum.
Institutional demand has weakened considerably during the correction. Farside Investors data shows U.S. spot Bitcoin ETFs lost approximately $1.07 billion between November 9 and November 13, while Ethereum funds recorded $398.9 million in net withdrawals. BlackRock's IBIT accounted for roughly $908 million of the Bitcoin ETF outflows over those five trading sessions. CoinGlass data cited in recent market reporting indicated approximately $1.47 billion in cryptocurrency liquidations over a 24-hour period on November 13, mostly affecting leveraged long positions. Ethereum saw a separate $259 million liquidation wave among traders who had positioned for a rebound above $2,000. The selloff also coincides with rising U.S. Treasury yields and pressure on technology stocks.
Bitcoin's next key technical reference is $62,000, a level Coinbase Institutional identified before the latest decline. If BTC cannot stabilize above that region, $60,000 becomes the next major psychological downside target, while recovering $66,000–$68,000 would improve the immediate outlook without necessarily reversing the wider correction. Ethereum faces a similar test around $1,800; a sustained break below that level could expose $1,750, while reclaiming $1,850–$1,900 would signal initial stabilization. Further direction may depend on upcoming U.S. economic data and whether ETF withdrawals begin to slow.
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