• Bitcoin was about $64,960 and ether about $1,826 on Coinbase at 2:30 p.m. ET Sunday; bitcoin's late-Saturday low of $61,946 was its lowest since mid-July [1][2].
  • Fed officials are openly discussing more rate hikes after hot October inflation, and CoinDesk tied Friday's break lower to a dollar rally on that rate outlook [3][4][5].
  • US spot bitcoin ETFs lost $1.07 billion in the week to Nov. 13 after $1.28 billion the week before, and are about $1.98 billion in net outflows for 2026, per The Block's analysis of SoSoValue data [6][7].
  • Crypto-specific hits stacked up: the Oct. 29 Binance theft of about $6.3 billion, a $14.2 billion monthly drop in stablecoin supply, MSCI dropping Strategy and Metaplanet, and MARA selling about 40% of its bitcoin [8][9][10][11][12].
  • This week's scheduled events include Fed Chair Kevin Warsh on Monday, Nvidia results Tuesday, Fed minutes Wednesday and Anthropic's IPO pricing [13][14].

Bitcoin traded at about $64,960 on Coinbase at 2:30 p.m. ET on Sunday, Nov. 15, up from a low of $61,946 late Saturday night that was its lowest price on the exchange since mid-July, according to Coinbase Exchange data [1][2]. Ether traded at about $1,826, after touching $1,709 [1].

That leaves bitcoin about 49% below its record of $126,296 on Coinbase on Oct. 6, 2025, and about 26% below its Dec. 31, 2025 close of $87,498 [1]. Bitcoin fell from about $75,260 at the Nov. 9 close to $64,119 at the Nov. 14 close, a 15% drop in five days [1]. The selling has no single cause. Traders, analysts and fund-flow data point to a set of pressures that arrived at the same time, each covered below with the source that reported it.

Where prices stand

The Saturday-night drop was the sharpest leg of the week. Bitcoin fell from about $64,100 at 7 p.m. ET to $61,946 in under two hours, and CoinGlass recorded $2.05 billion of liquidations across tracked exchanges, mostly bets on rising prices, The Defiant reported [2][15]. On Friday bitcoin broke below its 200-week moving average, then about $68,000, a long-run average traders watch closely [2]. Our running coverage is in bitcoin's fall below $62,000.

Month-end prices show the shape of the year: a slide to $58,524 at the end of June, a recovery to $83,556 at the end of September, and a fall since [1].

Rate-hike expectations and a stronger dollar

The biggest outside force is the Federal Reserve. The Fed raised its target range to 3.75%-4% in September, held in October with two officials dissenting in favor of a hike, and is now weighing another increase at its Dec. 8-9 meeting after core consumer prices rose 0.3% in each of August, September and October [3]. Our explainer covers why the Fed is weighing a December hike.

Officials have been explicit. Dallas Fed President Lorie Logan said the Fed needs at least two more quarter-point hikes [4]. Boston Fed President Susan Collins said on Nov. 14 that a gradual path of increases looks appropriate (our report), and San Francisco Fed President Mary Daly leaned toward more hikes at Stanford on Nov. 12. CoinDesk attributed Friday's drop to a 12-week low to the dollar rallying on the interest-rate outlook [5]. Higher rates raise the return on cash and Treasuries, which competes with assets that pay no yield, such as bitcoin.

ETF investors are pulling money

US spot bitcoin ETFs, the main route for traditional investors, have been net sellers. They lost $1.07 billion in the week to Friday, Nov. 13, after $1.28 billion the week before, with outflows on every trading day for seven sessions totaling $1.91 billion, according to The Block's analysis of SoSoValue data [6]. On Friday, BlackRock's iShares Bitcoin Trust accounted for $143.5 million of $185.5 million in outflows [6].

That has pushed 2026 flows to about $1.98 billion of net outflows, from roughly $368 million of inflows before the week ended Nov. 6 [6][7]. Earlier coverage: ETFs turn negative for 2026 and $1.4 billion in five days as bitcoin slid with Nvidia. US spot ether ETFs lost $398.9 million last week, their seventh straight negative week [6].

The Binance hack and shrinking stablecoins

Inside crypto, the largest shock was the Oct. 29 theft from Binance, the biggest exchange. Binance says attackers moved about $6.34 billion from exchange-controlled hot wallets after a months-long intrusion, and that $2.85 billion was frozen or intercepted [8]. The FBI attributed the theft to the North Korea-linked TraderTraitor group, which North Korea denies [8]. The Justice Department said on Nov. 12 it had authority to seize or restrain more than $1.2 billion of the stolen funds (our report).

Binance froze withdrawals and has been reopening them network by network. It said on Nov. 14 that it reopened 87 more networks that week and aims to restore all remaining networks by the end of next week [16]. Our earlier coverage: Binance's account of the intrusion and the withdrawal reopening.

The supply of major stablecoins, the dollar tokens traders use to buy crypto, fell $14.2 billion over 30 days to just under $280 billion, the steepest drop since the 2022 bear market, Glassnode said on Nov. 11, according to The Block [9]. Shrinking stablecoin supply means less cash parked on crypto venues (our report).

Index exits, miner sales and Washington

MSCI confirmed in its November review that it will delete Strategy, the largest corporate bitcoin holder, from the MSCI USA Index, and with it MSCI World and ACWI, after the close on Nov. 30; Metaplanet leaves the MSCI Japan Small Cap Index [10]. Index funds that track those benchmarks must sell the shares (our report).

Miners have sold too. MARA Holdings sold 13,597 bitcoin, about 40% of its holdings, for about $1.1 billion after the third quarter to repay $750 million of loans [11]. Our report is here.

Bitcoin has also moved with tech stocks. Its slide in the week to Nov. 11 came as Nvidia shares fell, MLQ.ai reported [7]. In Washington, Sen. Elizabeth Warren is expected to chair the Senate Banking Committee from January, and her aides say Trump family crypto businesses will face scrutiny (our report) [12].

What is scheduled this week

San Francisco Fed conference on productivity and jobs [13]

Call at 5 p.m. ET [14]

Detail on how many officials favor hikes [13]

Nasdaq trading as ANT expected Thursday [14]

All remaining networks and assets [16]

Strategy and Metaplanet leave MSCI indexes [10]

For the full calendar, see our week ahead.

Companies mentioned

Further sources

This article was produced by MLQ.ai's AI newsroom and checked against primary sources such as company filings, official releases and court documents. Reports from a single outlet are attributed. Editor: Peter Foy. How we work · Spotted an error? Tell us.

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