Bitcoin (BTC) Extends Weekly Loss to 11.5% as Altcoins Fall Harder

Eleven Percent in Seven Days

Seven days of selling took 11.50% off Bitcoin (BTC) on the reading compiled at 12:57 UTC on Saturday, and the drawdown reached well beyond the largest crypto asset. Ethereum (ETH) lost 15.34% on its own snapshot, taken at 13:11 UTC, while Hyperliquid (HYPE) fell 12.39% on a third compilation at 13:15 UTC. The three timestamps sit up to 18 minutes apart, so the comparison is not an exact same-instant ranking. On the figures as recorded, Hyperliquid's weekly decline ran 0.89 percentage points deeper than Bitcoin's, yet stayed 2.95 points shallower than Ethereum's, and the order among the three can shift with the moment each number is pulled. Ethereum, the second-largest asset, thus posted the steepest weekly loss of the three, while Bitcoin's was the mildest. Read together, the figures describe one broad selloff rather than three separate stories; the open question was one of degree, not direction. Weekly change is measured against the level recorded seven days earlier, so a single sharp session inside the window can move each figure on its own. The Bitcoin (BTC) price now stands near $66,760, down about 4% over 24 hours, and the asset has moved about a tenth of a percent since that afternoon snapshot, so the weekly picture has not visibly improved since the readings were compiled. Bitcoin's twenty-four-hour turnover stood near $20 billion. The market sits under the $67,500 floor examined in our coverage of the Nvidia CEO exit. Treasury balances have absorbed the slide directly: our earlier reporting put holdings underwater at $67,000. Institutional flows offered little offset, with BlackRock's IBIT stretching outflows across 11 sessions to $2.35 billion and deepening the drain from the spot ETF complex. Bears used the weakness to press their case: Peter Schiff maintains that Bitcoin (BTC) could retest the $16,500 low before year-end. The composite readings behind our scoring show how stretched the move became. Bitcoin's relative strength index stood at 22.58, deep in oversold territory, with the MACD signal bearish and the broader trend still marked as a downtrend. The support and resistance scoring, which grades each level from 0 to 100, puts the nearest meaningful support at $65,637 (77 out of 100) and the dominant resistance at $72,645 (97), leaving a wide, lightly structured band around the live price. Sentiment points the same direction: the Fear and Greed Index printed 13 out of 100, inside extreme fear. A daily close back above $72,645 would be the first condition to change that picture, while losing $65,637 would hand the market its next test lower. The full level map sits in our Bitcoin technical analysis.

Negative Funding and a Short Skew

The damage showed up most clearly in the altcoin side of the ledger, where derivatives activity around Hyperliquid's HYPE token revealed how the week's selling was actually transacted. Over the last 24 hours covered by the data, futures turnover ran to $2.75 billion against $224.46 million of spot volume, a ratio of roughly 12.3 to 1. Open interest, the value of contracts still open, stood at $3.06 billion, 9% below the level of a day earlier, which points to positions being closed rather than rolled. Liquidation data recorded $16.91 million of forced closures in the same window, and 97% of it, $16.39 million, came from long positions; shorts accounted for just $516,450. Leverage, not the conviction to HODL, set the pace of the drawdown. Funding pointed the same direction: the open-interest-weighted average funding rate printed at -0.0055%, a level at which shorts pay longs to keep their positions open. The protocol's own documentation describes funding as the periodic payment that adjusts the gap between a perpetual contract's price and its underlying asset, and the reading alone does not confirm spot buying demand or price support; it states only which side is paying to stay in.

Positioning tracked separately leans the same way: a daily report published on Friday, November 13, counted $1.16 billion in large whale positions monitored on the exchange, 55% of that notional held short. That tally covers tracked accounts only and does not represent every trader on the venue, nor is it directly comparable with token-level futures aggregates. HYPE's seven-day figure is recent history against a longer slide: the token set an all-time high of $97.978 on September 23 and sat 30.5% below it on Saturday's reading, with the short skew from Friday still the latest published reading as the week ended, more than seven weeks after that peak.