The losses accumulated across the full 10-day period and were not limited to the market downturn following Bitcoin's November 12 drop below $72,000. The latest 24-hour decline alone accounted for approximately $178 billion in reduced cryptocurrency market capitalization.
Prices recovered some ground later on Saturday. At approximately 9:12 p.m. ET, Coinbase spot-market data quoted Bitcoin at $64,102.52 and Ether at $1,778.11.
Bitcoin and Ether Record Double-Digit Losses
At the synchronized 9 p.m. ET measurement point on November 14, Bitcoin traded at $62,570.42 on Coinbase, representing a 22.4% decline over 10 days. Ether was quoted at $1,729.44, down 28.8% over the same period.
The comparison uses matching 9 p.m. ET endpoints on November 4 and November 14. The later Coinbase prices recorded at 9:12 p.m. ET were higher, reflecting a partial recovery after the synchronized measurement.
Bitcoin's move below $72,000 on November 12 was previously reported by The Defiant. A comparison of equal 24-hour periods ending at 9 p.m. ET on November 12 and November 14 showed that the latest daily losses were steeper for Bitcoin, Ether and the broader cryptocurrency market.
Market Capitalization Decline Does Not Represent Cash Outflows
The approximately $571 billion reduction reflects the decline in the quoted value of cryptocurrency assets, rather than an equivalent amount of cash being withdrawn from the market.
CoinMarketCap calculates total market capitalization using asset prices and circulating supplies. When prices fall, the combined market value can decrease even if the same number of tokens remains in circulation.
Crypto Liquidations Reach $1.3 Billion
The market downturn also triggered substantial liquidations among leveraged traders. Coinalyze's all-coins dashboard recorded approximately $1.3 billion in forced position closures over its trailing 24-hour reporting window.
Long positions accounted for about $1.2 billion of that amount. These positions represent bets that cryptocurrency prices will rise. Short liquidations totaled approximately $100.1 million.
The figures cover activity tracked by Coinalyze and should not be treated as a complete industry-wide total. The data provider warns that some exchanges do not supply full liquidation information, meaning reported figures may not capture every forced closure across the market.
source: thedefiant
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
Check out other news and articles on Google News
Disclaimer:
The articles on Hokanews are here to keep you updated on the latest buzz in crypto, tech, and beyond—but they’re not financial advice. We’re sharing info, trends, and insights, not telling you to buy, sell, or invest. Always do your own homework before making any money moves.
Hokanews isn’t responsible for any losses, gains, or chaos that might happen if you act on what you read here. Investment decisions should come from your own research—and, ideally, guidance from a qualified financial advisor. Remember: crypto and tech move fast, info changes in a blink, and while we aim for accuracy, we can’t promise it’s 100% complete or up-to-date.
The articles on Hokanews are here to keep you updated on the latest buzz in crypto, tech, and beyond—but they’re not financial advice. We’re sharing info, trends, and insights, not telling you to buy, sell, or invest. Always do your own homework before making any money moves.
Hokanews isn’t responsible for any losses, gains, or chaos that might happen if you act on what you read here. Investment decisions should come from your own research—and, ideally, guidance from a qualified financial advisor. Remember: crypto and tech move fast, info changes in a blink, and while we aim for accuracy, we can’t promise it’s 100% complete or up-to-date.
