Bitcoin (BTC) Trails US Equity Rebound With 13.7% Weekly Loss

Bitcoin Trails a 2.5% S&P 500 Rebound

Bitcoin (BTC) price action ran directly against United States equities in the week of Nov 9 to Nov 13: the S&P 500 added 2.5% to close at 7,561.67, the Nasdaq gained 2.3% to 25,136.27 and the Dow rose 2.1% to 52,347.55, while the Bitcoin (BTC) market kept losing ground. Weekend trading carried the selling further. Market data shows BTC briefly fell below $62,000, printing a 24-hour low of $61,956, before recovering. Live COINOTAG monitoring puts BTC at $64,812, about 3.3% lower over 24 hours and 0.1% below its level when the newest source checked at 03:02 UTC; the 24-hour loss had printed 5.3% earlier in the session. Ethereum (ETH) fared worse, down 15.22% over seven days to around $1,798 after touching $1,710, with a 24-hour drop of 5.8% at the same check. The equity rally itself was uneven, with the Nasdaq slipping about 0.9% on Friday as Nvidia-led rotation and the AI outlook kept tech shares choppy. Unlike equities, crypto trades around the clock and leveraged perpetual products hold a large share of activity, which shapes how weekend moves develop when margin calls force long positions closed. Because the seven-day crypto figures span weekend sessions while the stock data ends at Friday's close, the split reads as a short-term divergence, not yet a measured long-term break, though commentary has flagged concentrated weekend selling as a repeated feature of this drawdown. The gap has revived the decoupling question: Bitcoin (BTC) has historically moved with tech-heavy indices when global liquidity shifts, but correlations are not fixed, and this stretch looks more like crypto's own funding squeeze than a permanently broken link. The composite scoring behind COINOTAG's Bitcoin technical analysis rates every level that meets near spot from 0 to 100, and it frames the picture after the weekend flush. Spot at $64,812 sits just under a pivot resistance at $64,813, with the next meaningful ceiling at $65,746, rated 72 out of 100. Below, the strongest support is $62,972, scored 87, a band the weekend low of $61,956 traded through, which makes reclaiming it the first test for any rebound. Positioning stays delicate: the perp funding rate is slightly negative at -0.0005%, yet 76% of tracked accounts still hold longs, a 3.17 long/short ratio, so forced selling can compound while the crowd leans bullish. COINOTAG's aggregate fear gauge reads 10 out of 100, deep in extreme fear.

Fund Flows and Shrinking Dollar Liquidity

The clearest driver of the split sits in fund flows. United States spot Bitcoin (BTC) ETFs recorded net outflows on all five trading days in the week to Nov 13, totaling about $1.07 billion, after roughly $1.28 billion left the week before, according to Farside Investors tracking. Two weeks of withdrawals add up to about $2.35 billion, and the current streak has reached seven consecutive sessions at roughly $1.91 billion cumulatively. BlackRock's IBIT alone saw about $908 million leave last week, close to 85% of the week's total, while Ether funds shed another $399 million, a seventh straight week of outflows. Dollar liquidity inside crypto is shrinking alongside. Stablecoin supply data puts total market cap near $284.9 billion, down 5.25% over 30 days, with USDT at $175.4 billion, down 4.41%, and USDC at $69.3 billion, down 4.88%. A Nov 11 research note from Glassnode found major dollar stablecoins contracting at their fastest pace since June 2022, Bitcoin trading below the short-term holder cost basis and Coinbase quotes at a discount to global prices, conditions that leave less fuel for a rebound.

Leverage did the rest: BTC futures liquidations reached about $859 million in 24 hours, roughly 88% of them longs, and open interest fell 6.45% to near $43.9 billion, forced unwinds of the kind seen when a short squeeze liquidated $121 million. On-chain data shows some whale wallets holding between 100 and 1,000 BTC, and others holding 1,000 to 10,000 BTC, adding to positions, but with ETF demand and stablecoin supply still contracting, that accumulation is not yet broad enough to turn the market. Whether Bitcoin and TradFi risk assets re-sync in the week starting Nov 16 turns on three things: Federal Reserve rate expectations after CPI came in above estimates while PPI surprised to the downside, a resumption of ETF inflows sustained over several sessions, and an orderly deleveraging in which open interest does not quickly re-expand.