Bitcoin just lost $120 billion, falling to a six-month low.
Bitcoin (BTC) fell sharply in price on Friday, November 14, briefly dipping below $96,000 in the early hours – its lowest since May.
The large losses were largely due to institutional investor outflows, with approximately $870 million being withdrawn from the Bitcoin ETF on November 13.
As a result, the cryptocurrency's market capitalization fell below the $2 trillion mark and stood at $1.94 trillion at the time of writing.
Following this, a wave of liquidations engulfed leveraged BTC positions worth over $500 million, with over 90% of the losses occurring to traders who had opened long positions. In the broader market, leveraged positions worth over $1.1 billion were liquidated.
At press time, digital gold was trading at $96,740, a decline of more than 6% on a 24-hour chart. BTC's market capitalization fell from $2.05 trillion to $1.93 trillion in a day, resulting in a $120 billion loss in its total value.
Bitcoin ETF outflows hit record high
As mentioned, on November 13, net outflows from US spot Bitcoin ETFs amounted to approximately $870 million, marking the second-largest daily outflow this year. Only the $1.14 billion outflow on February 25 surpassed it.
Grayscale's Mini BTC suffered the largest losses, at $318 million, followed by BlackRock with $257 million and Fidelity with $120 million. Over the past three weeks, ETFs have lost a total of $2.64 billion.
Furthermore, since October, long-term holders have sold nearly 390,000 BTC, while exchange inflows have increased sharply: 12,000 BTC have entered trading platforms in the last 24 hours, the highest amount since March.
The total cryptocurrency market capitalization fell by approximately $3.73 trillion over the same 24-hour period. Market strategists believe the outflow reflects broader macroeconomic issues.
What does the future hold for Bitcoin?
Bitcoin is currently below several key technical levels, including the 23.6% Fibonacci retracement level at $111,958 and the 200-day exponential moving average (EMA) at $110,470, and testing critical support in the $96,500 to $97,000 range.
Market analyst Ali Martinez says this is “NOT very good,” with the next key support levels at $82,045 and $66,900.
Below $95,930, the next key support levels for Bitcoin (USD) are at $82,045 and $66,900. pic.twitter.com/EmxusQlQde
— Ali (@ali_charts) November 14, 2025
Momentum indicators also remain weak, with the daily relative strength index (RSI) at 33 and the moving average convergence divergence (MACD) at -2.752, indicating oversold conditions but not providing clear reversal signals.
Source: cryptonews.net
