Bitcoin (BTC) slipped under the six‑figure threshold again on Thursday before recovering to hover near $100,371 by publication time. In today’s session, BTC traded between $98,040 and $103,967, with some venues showing a deeper intraday trough around $97,956 as risk assets broadly weakened. [1]
Key takeaways at a glance
- Price now: ~$100.4K, down ~1.3% on the day; intraday range ~$98.0K–$104.0K.
- Fresh six‑month low: Multiple outlets flagged today’s sweep below $100K, with lows in the high‑$97Ks reported. [2]
- ETF flows turned negative: After a $524M net inflow on Nov. 11, spot Bitcoin ETFs saw -$278M on Nov. 12, underscoring fickle demand this week. (Nov. 13 totals were not yet fully posted at press time.) [3]
- Leverage flush: Forced liquidations topped $500M over the past 24 hours depending on the window measured, adding fuel to the downside move. [4]
- Macro cloud cover: The U.S. government shutdown’s data blackout left October CPI in limbo on the very day it was scheduled, adding uncertainty; funding‑market strains also kept risk appetite subdued. [5]
Price snapshot and context
At publication time, BTC changed hands near $100,371 (down ~1.3% day‑over‑day). The day’s range on consolidated feeds ran from $98,040 to $103,967, while Bloomberg tracked an intraday low of $97,956, marking the third dip below $100K this month. [6]
The latest slide continues a November retracement from October’s record area (around $126K), leaving Bitcoin on the defensive after sharp cross‑market de‑risking in late October and early November. European wires tonight also characterized the move as the lowest level since May. [7]
What’s moving the Bitcoin price today
1) ETF flows reversed mid‑week
U.S. spot Bitcoin ETF flows swung from a +$524M net inflow on Nov. 11 to -$278M on Nov. 12 (aggregate across issuers). The fast reversal mirrors the market’s stop‑and‑go liquidity and helps explain why rallies have struggled to hold. (Flow tallies for Nov. 13 were still populating.) [8]
2) Macro uncertainty: CPI data blackout and tighter funding conditions
The October CPI release, scheduled for today, has been cast into doubt amid the long government shutdown, with the White House and major outlets signaling the report may not be released at all. Absent fresh inflation data—and amid ongoing strains in short‑term funding markets—investors faded risk, pressuring crypto alongside tech stocks. [9]
3) Leverage and liquidations amplified the downdraft
As price cracked below $100K, forced liquidations accelerated. Depending on the 24‑hour window sampled, outlets reported $500M+ in wiped‑out positions, with BTC leading the tally—classic late‑move momentum that deepened the intraday slide. [10]
4) Risk headlines across crypto
- Hyperliquid incident: A manipulation attack around the POPCAT market triggered roughly $4.9M–$5M in losses to the exchange’s liquidity vaults—small versus BTC’s market cap but another reminder of market‑structure fragility. [11]
- Czech National Bank “test” buy: The CNB disclosed a $1M digital‑asset test portfolio mostly in bitcoin, housed outside official reserves—symbolically notable even if economically tiny. [12]
- Grayscale IPO filing goes public: Grayscale’s S‑1 details (revenue down ~20% YTD; $35B AUM) fueled conversation about crypto’s capital‑markets footprint as risk assets wobble. [13]
Market narrative: from “buy‑the‑dip” to “show‑me flows”
By early evening UTC, Bloomberg reported BTC had fallen as much as 3.9% today to $97,956, emphasizing how erstwhile supports—ETF allocators, corporate treasuries, and macro‑beta traders—have stepped back. That shift dovetails with this week’s choppy ETF flows and a risk‑off tape in U.S. equities. [14]
On‑chain and positioning indicators also show long‑term holders distributing more aggressively than usual into weakness, helping to cap rebounds—another hallmark of the current consolidation phase. (Analysts have highlighted this trend repeatedly in today’s coverage.) [15]
Levels and factors to watch next
- Psychological pivot:$100,000 remains the intraday battleground; sustained closes below increase the risk of deeper tests into the high‑$90Ks.
- ETF tape: Whether flows stabilize after Wednesday’s outflows will be critical for near‑term direction. Keep an eye on aggregate net flow prints for Nov. 13–15. [16]
- Macro calendar: Markets are watching for any clarity on rescheduling or substituting the October CPI (and other delayed U.S. datasets), along with signs of easing in short‑term funding stress that has weighed on risk appetite. [17]
Bottom line
Today’s BTC price action—a swift breach of $100K followed by a fragile rebound—reflects a market caught between thin risk appetite, whipsawing ETF flows, and data uncertainty from the U.S. shutdown fallout. Until macro visibility improves and ETF demand re‑asserts itself, the path of least resistance remains range‑bound with downside probes, punctuated by liquidation‑driven volatility. [18]
Methodology note: Real‑time price, intraday high/low and day‑over‑day change reference consolidated market data at publication time; lows recorded on individual venues may differ modestly. Flow, macro and incident headlines reflect reports published on November 13, 2025 from the sources cited above. [19]
References
1. www.bloomberg.com, 2. www.bloomberg.com, 3. farside.co.uk, 4. decrypt.co, 5. www.bloomberg.com, 6. www.bloomberg.com, 7. www.onvista.de, 8. farside.co.uk, 9. www.bloomberg.com, 10. decrypt.co, 11. www.coindesk.com, 12. www.reuters.com, 13. www.reuters.com, 14. www.bloomberg.com, 15. www.marketwatch.com, 16. farside.co.uk, 17. www.bloomberg.com, 18. www.bloomberg.com, 19. www.bloomberg.com
