Bitcoin (BTC) Extends Weekly Loss to Nearly 15% on ETF Outflows

ETF Withdrawals Reach $1.91 Billion

Bitcoin (BTC) price traded near $64,500 on Sunday, down about 4% over 24 hours, after touching a three-month low around $62,080 earlier in the session. The decline has removed close to 15% from the asset across seven days, and it gathered pace on Friday, November 13, when Bitcoin (BTC) broke below $70,000 for the first time in the current drawdown. Losses spread across the wider altcoin markets as well, with Ethereum, XRP and Solana adding to the week's damage.

Fund flows sit at the center of the pressure. US spot Bitcoin ETF products recorded roughly $1.91 billion in net withdrawals across seven consecutive trading sessions between November 5 and November 13, aggregate flows data shows. Friday accounted for $185.4 million of that total, including $143.5 million out of BlackRock's iShares Bitcoin Trust (IBIT) and $41.9 million out of Fidelity's Wise Origin Bitcoin Fund (FBTC). The daily pace ran heavier earlier in the week: $284.1 million left the funds on Thursday and $299.8 million on Wednesday. The cumulative figure had stood near $1.44 billion through five sessions as of November 11, so the streak deepened as the week closed rather than easing.

Inflation data compounded the pressure on risk assets. Consumer prices rose 0.4% in October and core inflation added 0.3%, keeping attention fixed on the Federal Reserve's interest-rate outlook as traders weighed whether borrowing costs would stay elevated for longer. Spot ETFs do not trade over the weekend, so the next daily flow figures arrive after the US market session on Monday, November 16. The daily low near $62,080 marked the asset's weakest print in roughly three months, and it arrived with the market already on edge after a week of steady institutional selling; prices later stabilized near $62,000 before recovering above $64,000 into the weekend.

Longs Absorb $750 Million in Forced Selling

Leveraged positions took the sharpest damage. Derivatives data shows roughly $1.96 billion in cryptocurrency liquidations over a rolling 24-hour window, with Bitcoin (BTC) responsible for about $750 million of the total. Long positions supplied nearly $600.5 million of that figure, close to 80%, against $152 million from shorts. A liquidation closes a leveraged trade automatically once its collateral runs thin, and the sell orders it releases can accelerate a slide as prices fall. Much of the exposure came from traders using margin trading to stack long bets into the week. The damage followed a larger flush on November 13, when more than $1 billion in leveraged positions were closed as Bitcoin first broke below $70,000.

On-chain measures put the pain in context: recent counts show short-term supply underwater at 73%, a gauge of how much of the recent buyer base sits at a loss, and one earlier map had flagged exiting all DeFi holdings at a $61,576 re-test level in just this zone. Chart levels frame the next steps: immediate support stands near $62,000, with $60,000 and roughly $59,800 below it, while resistance waits near $65,600 and again in the 68,000-70,000 region. A recovery above those marks would repair the short-term structure, while another break under Sunday's low would return $60,000 to the conversation.

Commentary has split between warning and accumulation. Michaël van de Poppe called the correction unusually severe in a weekend post, pointing to Bitcoin's distance below its 21-day and 200-day moving averages and comparing the three-day slide with rare episodes such as the COVID crash and the FTX collapse. He described a leverage-flush-driven correction and said he was buying at current levels. Doctor Profit kept a longer-term bullish stance, holding $57,000 as his bear-market bottom and arguing sellers only claim victory below that mark, after flagging $68,000 as a possible bottom on November 13. Daan Crypto Trades looked at the historical four-year cycle tied to the Bitcoin halving, noting the asset has never recorded two consecutive down calendar years, even as prices and timing drift from past patterns.

Crowded Longs at the $62,977 Floor

Our Bitcoin technical analysis scoring puts the strongest support at $62,977, rated 87 out of 100, just above the weekend low, with the nearest strong resistance at $65,782, scored 74. Positioning has not yet reset: funding on perpetual swaps sits slightly negative at -0.0013%, while a long/short account ratio of 3.15 shows far more accounts positioned for a rebound than for further downside. Read that as a market that has flushed leverage but not conviction. The interpretation holds while $62,977 stands; a decisive loss of that floor, or funding that stays deeply negative for days, would argue the deleveraging has further to run.