What exactly happened?
Bitcoin dropped below the $69,000 mark and ether fell under $2,000, with both assets extending their prior declines. According to The Defiant, which bases its figures on paired closing prices from the Coinbase exchange, ether lost 20.3% over the last four weeks, while bitcoin shed 16.3% over the same period.
So ether fell faster than bitcoin. That is a concrete, measurable difference, not just an impression.
According to Cointelegraph, bitcoin was down roughly 4% on a daily basis.
How much did leveraged positions lose?
CryptoSlate, citing CoinGlass data, reports that approximately $870 million in bullish (long) positions were liquidated over 24 hours. A liquidation means the forced closing of a leveraged position when the market moves against it and the collateral is no longer enough to cover the loss. Such a liquidation cascade typically accelerates the downward price move, because forced selling adds further pressure.
That is why there is a difference between "the price fell" and "the price fell and swept leverage along with it." The second case tends to be sharper.
What was the macro context?
According to Cointelegraph, the decline came despite a cooler October reading of the US PPI (the producer price index, which measures wholesale inflation), which came in below expectations. The market reacted tepidly, and according to the same source stocks weakened as well. In other words: the inflation data on its own did not lift risk assets.
CryptoSlate mentions as background factors the uncertainty around interest rates and around NVIDIA stock, as well as an ongoing outage of Microsoft services. We present these points as context described by the source, not as a proven cause of the crypto decline.
What do the technical indicators say?
In its overview for November 13, 2026, CoinDesk pointed out that bitcoin's momentum indicator is turning into red territory and that, according to this metric, it could send the price back below $60,000. Momentum is an indicator of the speed and direction of a price change, not a forecast. We present this as CoinDesk's observation about the state of the indicator, not as our estimate of where the price will go.
How do the four sources agree and where do they differ?
| Figure | Source | Note |
|---|---|---|
| ETH -20.3%, BTC -16.3% over 4 weeks | The Defiant | Paired closes from Coinbase |
| BTC ~ -4% on a daily basis | Cointelegraph | Context: cooler PPI |
| ~$870M in long liquidations over 24h | CryptoSlate | CoinGlass data |
| Momentum turning red | CoinDesk | Overview for 11/13/2026 |
All four sources describe the same direction: a decline. They differ in scope. One measures the four-week drop, another the daily one, a third the leverage, and a fourth a technical indicator.
What is still unknown?
None of the sources proves a single cause for the decline. Macro uncertainty, leverage liquidations, and technical indicators are correlated factors, not a documented chain of cause and effect. We also do not know whether the decline will stop or continue. The fact that momentum is turning red is no guarantee of a further fall.
What to watch next with this type of move?
- Whether liquidations continue or fade (data like CoinGlass).
- How stocks behave and what expectations around interest rates look like, because crypto moved with risk assets during this period.
- Whether ether's relative weakness against bitcoin persists or the ratio reverses.
charliedesk does not tell anyone what to buy or sell. We show what happened and what the data says about it.