Bitcoin (BTC) Nears $62,400 Support as Liquidations Pile Up

$1.77 Billion Cleared From Derivatives

Bitcoin (BTC) price sits just above its nearest major support after a broad 24-hour selloff that cleared $1.77 billion in derivatives liquidations. The Korean session put the coin at 88.92 million won at 07:30 KST on 2026-11-15, 4.6% beneath its level a day earlier; our live dollar feed holds the quote at $63,877, down 6.5% across the same window. The slide had already taken the largest proof-of-work network by secured value down to a three-month low near $65,000 in early Saturday trading, and the coin extends its weekly loss to 11.5% as the wider altcoin field falls harder around it. The drawdown lands more than two years past the last Bitcoin halving, the supply event that cuts new issuance in half on a four-year cycle.

The damage inside the Korean tape was broad. Ethereum lost 6.9% to 2.45 million won across the 24 hours, and only 7 of the 43 tokens with turnover above 5 billion won on Upbit and Bithumb advanced, a 16% advance ratio on a combined 2.2 trillion won of 24-hour volume. The two largest assets fell together, a pattern consistent with a market-wide risk pull rather than a coin-specific event. A kimchi premium of +3.9%, the persistent gap that keeps local quotes slightly above offshore prices, held through the decline.

The derivatives ledger shows the wipeout split almost evenly, 49.4% long against 50.6% short: both sides paid, and neither side forced the other's hand. Options volume leaned defensive all the same, with the Bitcoin (BTC) put/call ratio printing 1.64 on traded volume. Sentiment gauges put the Fear and Greed Index at 13, down from 20 a day earlier, deep inside extreme fear. Our on-chain reading adds a further negative print: spot coins move at a loss through the decline, with the aSOPR below its break-even line.

Our composite scoring frames the band the market now occupies. The strongest support beneath the tape sits at $62,409, scored 68 out of 100 from the indicators that meet there; the strongest resistance stands at $72,649, scored 97, the two coordinates that anchor our Bitcoin technical analysis. Spot at $63,877 occupies the lower third of that span, and the momentum readings agree with the direction: RSI prints 19.41 and the trend tag reads downtrend. Positioning is less one-sided than the tape suggests. Funding runs at 0.0016% on perpetuals, effectively neutral, while the long/short account ratio reads 3.53, with 77.9% of accounts long, a retail stance closer to hodl than to a hedged book. That posture keeps its cushion for as long as $62,409 keeps bids beneath it.

XRP Topped Korean Turnover

Order flow inside the Korean session concentrated in a handful of names. XRP drew the largest turnover at 216.6 billion won, ahead of Bitcoin (BTC) at 208.7 billion won and Tether at 172.1 billion won, and the top five tokens together carried roughly 30% of all volume across the two venues. Tether's third place is the usual parking spot when traders step out of volatile names. Even the busiest name could not hold its price: XRP fell 8.9% while drawing the single largest turnover on the two venues.

The day's gainers clustered at the small end. BOB, listed on Bithumb, ran 45.1% higher to 6.128 won on 6.8 billion won of turnover, with Sofpon up 10.5% and Obs up 7.9% behind it, volumes worth a fraction of the major tokens' books. The losses ran deeper still. Kaba fell 32.5% and Pump 32.1%, the kind of moves that thin, low-float order books produce, where a single crypto whale can set the price on one fill. The overnight session added its own layer of stress: Plasma's hourly turnover ran at 2.6 times its prior 18-hour average while the token lost 14.4%, and XRP's ran 2.1 times the average with an 8.9% loss. Both bursts came from modest shares of overall volume, 7 billion won and 216.6 billion won across 24 hours, so the stress stayed concentrated rather than systemic. The reading that closes the picture: spot holds at $63,877, 0.2% beneath the 07:30 KST mark, and the distance to the $62,409 floor stands at roughly 2.3%. That gap, measured now rather than forecast, is the number the next session turns on.