November 15, 20262 min read0 views

Bitcoin Drops Below $63,000 as Liquidations Reach $1.96 Billion

Bitcoin fell below $63,000 to a three-month low as a broad weekend sell-off forced traders to close nearly $2 billion in crypto positions over 24 hours by Saturday evening.

Bitcoin (BTC) traded around $62,900 shortly after 8 p.m. ET Saturday (01:00 UTC Nov. 15), down about 7.5% in 24 hours. Ether (ETH) was near $1,724, down about 10%,…

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Bitcoin fell below $63,000 to a three-month low as a broad weekend sell-off forced traders to close nearly $2 billion in crypto positions over 24 hours by Saturday evening.

Bitcoin (BTC) traded around $62,900 shortly after 8 p.m. ET Saturday (01:00 UTC Nov. 15), down about 7.5% in 24 hours. Ether (ETH) was near $1,724, down about 10%, while Solana (SOL) traded around $69, down about 11%.

Roughly 319,000 traders had positions forcibly closed over the same period, totaling about $1.96 billion. Bitcoin long positions accounted for about $645 million in liquidations, compared with $62 million for shorts. Ether long positions added about $432 million, while Ether shorts accounted for about $40 million.

Onchain analyst James Check called the move Bitcoin's fourth capitulation-style sell-off since its record high. He identified short-term holders who bought above $80,000 as the main sellers, including buyers who had hesitated around $67,000 in July and August.

Bitcoin's latest leg lower followed a drop below $69,000 on Thursday. Spot Bitcoin and Ether exchange-traded funds recorded combined net outflows of $1.46 billion during the week.