Bitcoin Fell 12.1 Percent in Seven Days, to About $66,670

Bitcoin ended its worst week of the autumn at about $66,670 on Saturday, November 14, down 12.1 percent in seven days, according to CoinMarketCap. The slide took it below $70,000 for the first time since August 19, to an intraday low of $66,456, and it leaves the token roughly 45 percent below the record $126,080 it set on October 6, 2025. A week earlier it had changed hands near $75,500.

The first stated driver is inflation, and what it does to interest rates. The Bureau of Labor Statistics reported Tuesday that consumer prices rose 0.4 percent in October, with core prices up 0.3 percent — both a tenth of a point hotter than economists expected, for the third straight month. Traders responded by pricing a 94 percent chance that the Federal Reserve raises rates a quarter point at its December 9 meeting, CoinDesk reported, and Fed Governor Christopher Waller said during the week that he would support a hike. The dollar index climbed to 103.4, its highest since April 2025, and the 10-year Treasury yield moved above 5 percent. Assets that pay no yield get more expensive to hold in that world, and bitcoin paid the toll.

The second driver arrived from the stock market. Nvidia chief executive Jensen Huang resigned on Thursday, and the chipmaker's shares fell 13 percent on the week as a gauge of large semiconductor stocks dropped 3.4 percent. Bitcoin has traded in step with tech stocks all year, and that link is the channel the selling came through, as investors dumped the AI trade and crypto in the same motion.

The third driver is money leaving. U.S. spot bitcoin ETFs have seen more than $2.5 billion of net outflows since October 30. Coinbase Institutional, in its weekly report, put the figure at a record $3 billion and added a quieter number that may matter more: the supply of dollar stablecoins has shrunk by $11.5 billion in 30 days, the largest decline the firm has recorded. Stablecoins are the cash that waits inside crypto markets; when the pile shrinks, there's less of it standing ready to buy dips.

Leverage turned the fall into a slide. When bitcoin broke below $70,000 early Friday, more than $1.3 billion of futures positions were liquidated within 24 hours, $677 million of them in bitcoin alone, according to CoinGlass data reported by CoinDesk. Each forced sale pushed the price into the next trader's liquidation level, which is how a 7 percent day happens in a market this size. Coinbase Institutional also noted that MSCI has confirmed Strategy, the largest corporate holder of bitcoin, will be removed from its global indexes after November 30 — one more scheduled seller in a market short of buyers.

What comes next on the calendar is visible and dated: Nvidia's earnings on November 17, under its interim chief executive, and the Fed's December 9 meeting. Until then, the week's arithmetic is simple. Bitcoin fell 12.1 percent because inflation data raised the price of money, the tech trade it moves with cracked, and the funds that bought it all year headed for the exit at the same time.