Bitcoin price slipped to around $95,900 on Nov. 14, its lowest level in about six months. The move came after a sharp wave of outflows from spot Bitcoin exchange-traded funds, which removed roughly $870 million from the sector in a single day. Extra supply from ETF redemptions, combined with weak risk appetite, pushed BTC below the $96,000 mark.
Bitcoin market capitalization dropped back under the $2 trillion level, while the broader market value fell in tandem. Many traders who used high leverage saw positions closed as prices broke below key psychological levels, including $100,000.
Derivatives platforms recorded heavy long liquidations during the move. Most of the forced selling came from bullish traders who had bet on a continued rally after the recent all-time high in October.
Reports also flagged a 2,400 BTC transfer, worth about $237 million, to Kraken from a wallet tied by Arkham to trader Owen Gunden. Such flows can add near-term supply, though analysts cautioned against reading them as capitulation.
On-chain analysts also report a steady rise in selling from long-term holders. Glassnode’s data shows average daily spending climbing from just 12,000 BTC in early July to roughly 26,000 BTC this week, consistent with late-cycle profit-taking rather than a mass exit.
In addition, some market technicians view the slide as part of a corrective phase after October’s all-time high. A prominent trader, CasiTrades, suggested BTC could test the $94,000 support area before attempting to reclaim the $97,000 zone.
Also Read: Bitcoin Price Crashes to $96,000 as Market Liquidations Cross $880 Million
The decline in Bitcoin price reflects broader vulnerability in international risk markets. Stocks in technology and AI-related went under pressure due to cautious company guidance and concerns about the sustainability of high valuations. Since investors are rotating to assets offering closer correlation to economic fundamentals demand for volatile assets like cryptocurrencies has softened.
Changing expectations for interest rates also influence sentiment. Some traders now expect central banks to keep policy tighter for longer, which can reduce liquidity and credit growth.
In the short term, the trend in crypto markets will probably be determined by flows of ETFs, macroeconomic and equity market stability. Should outflows ease and risk appetite regain momentum, BTC might rebound above the $100,000 mark. However, subsequent selling by large holders and poor stock markets could prolong the correction.