Bitcoin Price Today Plunges Below $96K as ETF Outflows, Fed Jitters and Liquidations Deepen Crypto Sell-Off

Bitcoin is sliding into the weekend under heavy pressure. On Friday, November 14, 2025, the world’s largest cryptocurrency tumbled to a new six‑month low, trading around $95,000–$96,000 after briefly spiking above $100,000 earlier in the session. ^[1]

The drop caps a brutal stretch for digital assets: Bitcoin is now down a little over 20% from its early‑October all‑time high above $126,000, and on track for a third straight week of losses. ^[2]

Bitcoin price today, 14 November 2025: key numbers at a glance

Because Bitcoin trades 24/7 across hundreds of venues, exact figures vary slightly by data provider. As of early afternoon UTC on November 14, 2025:

Current BTC price: roughly $95,000–$96,000
– Market data feeds show spot Bitcoin around $95,264, with some major exchanges quoting just above $96,000. ^[3]
24‑hour change: down about 5–6% versus the same time yesterday. ^[4]
Today’s trading range: roughly $94,600 (low) to $100,400 (high).
Week‑to‑date performance: nearly 9% lower than last Friday. ^[5]
Distance from October all‑time high: approximately 22–24% below October’s record near $126,000. ^[6]

The pain is not limited to Bitcoin. The global crypto market cap has fallen to about $3.35–$3.38 trillion, down 5–6% in the last 24 hours, while 96 of the top 100 coins are in the red. ^[7] Bitcoin still dominates, representing around 57% of total crypto market value. ^[8]

Why is Bitcoin down today? Four main drivers

Today’s slide is not about a single headline. Instead, several powerful forces are hitting Bitcoin at the same time: macro uncertainty, derivatives deleveraging, ETF outflows, and sentiment shock.

1. Fed rate‑cut doubts spark a broader “risk‑off” move

Markets had been betting heavily on a Federal Reserve interest‑rate cut in December, especially after the U.S. government finally ended what has become the longest shutdown in the country’s history on November 12. ^[9]

Over the last week, that optimism has faded:

Probability of a December Fed cut has slid from around 80–90% at the start of November to roughly 50–52% today, based on CME FedWatch and prediction‑market data. ^[10]
As traders re‑price interest‑rate expectations, yields on safer assets like U.S. Treasuries have risen, pressuring risk assets from tech stocks to crypto.

Reuters notes that Bitcoin traded below $96,000 for the first time since May, with the move closely tied to shrinking expectations for imminent monetary easing and a broader sell‑off in risk assets. ^[11]

In a market where Bitcoin is increasingly treated as a high‑beta macro asset, tighter liquidity and lingering economic uncertainty are a toxic mix.

2. A wave of liquidations and options expiry

The second big driver is forced deleveraging in crypto derivatives:

Data compiled by CoinDesk and derivatives analytics from CoinGlass show more than $1.1 billion in crypto derivatives positions wiped out in the past 24 hours, with roughly $510 million tied to Bitcoin alone. ^[12]
Other analyses put total liquidations even higher, at around $1.3 billion across the crypto complex. ^[13]

On top of that, almost $5 billion in Bitcoin and Ethereum options are set to expire today on Deribit, according to options‑market reporting, adding another layer of volatility as traders roll, hedge or close positions into the event. ^[14]

This combination of leveraged long positions being flushed out and options gamma flows tends to amplify every move. Once Bitcoin slipped below the psychologically important $100,000 level, liquidations began cascading, dragging prices rapidly down into the mid‑$90,000s.

3. Heavy ETF outflows and long‑term holders cashing in

Spot Bitcoin ETFs, which were heroes of the last leg of the bull market, are now adding to the pressure.

Data cited by Cryptonews and SoSoValue show U.S. spot Bitcoin ETFs recorded about $870 million in net outflows on Thursday, one of the largest daily withdrawals since launch. ^[15]
Ethereum ETFs also saw substantial redemptions, with roughly $260 million flowing out, contributing to ETH’s steeper drop. ^[16]

At the same time, on‑chain data summarized by The Economic Times suggests that long‑term Bitcoin holders have sold around 815,000 BTC over the past 30 days—roughly $79 billion at recent prices. Their share of total supply fell from 76% to 70% in a month, the largest long‑term holder sell‑off since early 2024. ^[17]

Miners have contributed modestly as well, offloading about 1,200 BTC in a week—small in percentage terms, but notable when liquidity is thin and sentiment fragile. ^[18]

Put simply: more coins are hitting the market just as ETF demand cools, magnifying the downside move.

4. Rumors, social media and the “Strategy” scare

In an already nervous market, rumors spread like wildfire.

On Friday, a misinterpreted piece of on‑chain data from analytics platform Arkham sparked widespread speculation on X that Strategy (formerly MicroStrategy) had sold roughly 47,000 BTC, reversing its well‑known accumulation strategy. That claim was later rebutted by company representatives and additional reporting, but the damage to sentiment was done. ^[19]

The rumor coincided with a sharp push below $98,000 and reinforced the sense that even “diamond‑handed” institutional players might be heading for the exits, further spooking retail traders.

Sentiment flips to “extreme fear”

If October’s record above $126,000 was the “greed” chapter of this cycle, mid‑November is shaping up as its mirror image.

The widely watched Crypto Fear & Greed Index has dropped into “Extreme Fear” territory around 16, reflecting a sharp deterioration in risk appetite after Bitcoin lost the $100,000 level. ^[20]
CCN reports that the move below $98,000 triggered one of the strongest fear readings of the quarter, as traders rushed to exit high‑risk positions and exchanges logged a surge in forced liquidations. ^[21]

Analysts at Cryptonews describe Bitcoin as “fighting one battle after another”, citing U.S. dollar strength, rising Treasury yields, long‑term holder selling and lingering macro uncertainty as overlapping headwinds. ^[22]

Yet even amid the gloom, not everyone is convinced this is the start of a new long‑term bear market. Some institutional commentators argue that 2025 remains a landmark year for professional adoption, with institutions now estimated to hold over 4 million BTC and increasingly exploring Bitcoin‑based DeFi yield strategies. ^[23]

Technical picture: critical levels for Bitcoin to hold

From a chart perspective, today’s price action marks a clear breakdown from October’s euphoric highs, but the long‑term structure is still hotly debated.

Short‑term supports and resistances

Recent analyses from market desks and trading firms highlight a series of key zones:

Immediate resistance:
- $98,000 – Former support turned resistance; CoinDesk notes the market would need to reclaim this area to avoid confirming a more decisive downtrend from the October peak. ^[24]
- $100,000–$101,000 – Major psychological and technical barrier; regaining and holding this band is seen as the first step in repairing the bullish structure. ^[25]
Near‑term support:
- $95,000–$96,000 – Today’s trading zone; a failure to stabilize here keeps the door open for deeper losses. ^[26]
- $94,000–$92,000 – Widely watched support band. Some technical strategists warn that a clean break below this region could open a slide toward the high‑$80Ks. ^[27]

The Economic Times notes that traders are eyeing $97,045 as an initial pivot, with a potential downside target near $92,000 if selling accelerates. ^[28]

Deeper downside scenarios

More bearish voices argue the current move could be only the first leg of a larger correction:

A widely circulated analysis on Finance Magnates highlights a scenario where Bitcoin could fall another 30% from current levels, targeting the $70,000 area, which roughly coincides with the 200‑week moving average and prior cycle support. ^[29]
Interim levels in that bearish roadmap include $88,000 and April’s lows around $74,000. ^[30]

These views emphasize that a 24% drawdown from all‑time highs is not out of character in historical Bitcoin cycles and could still fit within a broader, longer‑term bull structure.

Bullish case: defending the 50‑week EMA

On the more optimistic side, prominent chartist Rekt Capital argues that Bitcoin’s macro uptrend remains technically intact—if one condition is met.

According to his analysis, BTC has pulled back to its 50‑week exponential moving average (EMA), currently around $101,285, several times in the past two years. Each time, clusters of “lower lows” around that EMA preceded major upside rallies. ^[31]
He notes that Bitcoin is now trading below $95,000 and has once again formed a cluster of lows near this EMA region, similar to patterns seen before big moves from $51,000 → $107,000 in 2024 and $72,000 → $126,000earlier this year. ^[32]

In his view, Bitcoin needs to close the week back above the 50‑week EMA to preserve its bullish market structure. A failure to do so could mark a more meaningful trend shift.

How altcoins and ETFs are reacting

Bitcoin’s drop is rippling across the entire digital‑asset landscape.

Ethereum (ETH) is down roughly 8–9% on the day, trading around $3,150–$3,200, after briefly slipping below $3,100. ^[33]
Other large‑cap tokens like Solana, XRP, BNB and Cardano are nursing 6–9% losses over 24 hours, while several mid‑caps have posted double‑digit declines. ^[34]
CoinDesk’s market dashboard shows the CoinDesk 20 Index off about 8%, underscoring the broad‑based nature of the sell‑off. ^[35]

Meanwhile, ETF flows underline the institutional shift to caution:

U.S. spot Bitcoin ETFs: rough estimate of $870–$870.86 million in net outflows on Thursday alone, the second‑largest daily outflow since launch. ^[36]
Ether ETFs: about $1.4 billion in cumulative outflows recently, according to market data collated by CoinDesk and other analytics platforms. ^[37]

This marks a stark reversal from October, when both Bitcoin and Ether products enjoyed strong inflows amid expectations of easier financial conditions and aggressive institutional allocation.

Volatility spikes, but panic is not (yet) universal

One interesting nuance beneath the headline crash: derivatives markets are nervous, but not in full‑blown panic.

CoinDesk notes that Bitcoin’s 30‑day implied volatility index (BVIV) surged toward 50% (annualized) during Asian trading hours but has since eased back below that, even as spot prices hover near daily lows. ^[38]

This suggests that:

Options traders are indeed buying protection, but
The flows still look more like a measured repricing than the kind of blow‑off panic seen in past capitulation events.

Futures open interest in many altcoins has dropped sharply, signaling capital outflows from leveraged positions, while Bitcoin’s futures open interest has remained relatively more stable, reflecting its role as the market’s anchor. ^[39]

Outlook: crash, correction… or opportunity?

Where Bitcoin goes from here is the big question, and analysts are far from unanimous.

Bearish narrative

Macro headwinds (higher yields, uncertain Fed policy, post‑shutdown jitters) show no immediate sign of easing. ^[40]
ETF outflows and long‑term holder profit‑taking have created a significant supply overhang. ^[41]
Technicals now point to a potential break of key supports in the low‑$90Ks, with downside roadmaps extending toward $88K, $80K, $74K and even $70K in extreme scenarios. ^[42]

From this angle, the late‑2025 rally looks stretched, and the current move is seen as the first leg of a deeper unwinding.

Constructive / long‑term narrative

More constructive voices emphasize the bigger picture:

Despite recent price action, 2025 has been a record year for institutional participation, with estimates that institutions now hold over 4 million BTC. ^[43]
Analysts like Nic Puckrin argue that Bitcoin’s recent underperformance against tech stocks shows it is more sensitive to global liquidity and rate expectations than to simple “risk‑on versus risk‑off” stock correlations, and therefore well‑positioned to rebound if the December 10 U.S. rate decision or subsequent data tilt dovish. ^[44]
Technical strategists such as Rekt Capital point out that retests of major weekly moving averages have repeatedly preceded large upside moves in past cycles, provided those levels ultimately hold on a closing basis. ^[45]

In this view, the current slump is a classic Bitcoin shake‑out: painful, noisy, but possibly necessary to clear leverage and reset sentiment before any potential next leg higher.

What this means for traders and long‑term holders

For short‑term traders, today’s environment is dominated by:

High intraday volatility around key levels ($94K–$98K)
Elevated but not extreme options pricing
Thin spot liquidity in some venues as market‑makers widen spreads

For longer‑term participants, the picture is more nuanced:

Bitcoin remains far above its last major bear‑market lows, but
It is also clearly in a corrective phase relative to its October highs, with macro conditions and ETF flows both acting as strong headwinds.

Nothing in the data guarantees whether this drawdown will stop at shallow support or deepen into a full bear market. As always, anyone considering an investment in Bitcoin or any cryptocurrency should carefully evaluate their risk tolerance, time horizon, and need for diversification, and avoid making decisions based solely on short‑term price swings or headlines. This article is informational only and does not constitute financial advice.

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