Key Notes
- US-based selling pressure through Coinbase accelerated Bitcoin's decline, ending its 189-day streak above $100,000.
- Polymarket traders assign 66% probability to BTC reaching $95,000 in November amid continued selling pressure.
- The liquidation cascade represents Q4's largest forced closure event with Ethereum, Solana and XRP experiencing similar volatility.
Cryptocurrency markets recorded $657.88 million in liquidations over 24 hours as Bitcoin BTC $98 820 24h volatility: 3.0% Market cap: $1.97 T Vol. 24h: $97.73 B dropped to $98,377 on Nov. 13, according to CoinGlass data.
Long positions accounted for $533.57 million of forced closures, while shorts represented $124.31 million. The liquidation cascade accelerated from $513.15 million at the 12-hour mark.
Total Market Liquidation Heatmap | Source: Coinglass
CoinGecko API data shows the cryptocurrency reached its third sub-$100,000 low of November on Nov. 13 at $98,377, following breaches to $99,607 on Nov. 4 and $99,377 on Nov. 7. The November lows mark a 22% correction from the Oct. 6 peak of $126,080.
Bitcoin Price Chart | Source: Trading View
Ethereum ETH $3 182 24h volatility: 6.9% Market cap: $383.51 B Vol. 24h: $45.16 B traded at $3,267, Solana SOL $142.1 24h volatility: 7.7% Market cap: $78.67 B Vol. 24h: $6.88 B at $147.91, and XRP XRP $2.29 24h volatility: 4.0% Market cap: $137.83 B Vol. 24h: $6.82 B at $2.36 on Nov. 13, according to CoinGecko data. The broader cryptocurrency market experienced similar volatility earlier this month, as previously reported by Coinspeaker.
What’s Behind Bitcoin’s Drop?
Analyst Satoshi Stacker noted US-based selling pressure contributed to the breach. “The Coinbase $BTC discount indicates that US-based selling has reaccelerated today and helped push Bitcoin below $100,000,” Stacker wrote .
Bitcoin is tapping liquidity below $100K 👀
Key area of interest here, confluence around the range low.
Big players should use that liquidity, otherwise ☠ pic.twitter.com/SxUHVxKWKi
— Maartunn (@JA_Maartun) November 13, 2025
Trader Maartunn identified the $100,000 level as a key liquidity zone. The drop ended a 189-day streak of Bitcoin closing above $100,000, spanning from May 8 through Nov. 12, according to analyst Ghost.
💡 Quick Reminder: Bitcoin hasn’t closed below $100K for 189 days in a row (May 8 – Nov 12).
Pretty interesting to see what will happen today.
Let’s see if that streak continues or stops. pic.twitter.com/hkX7rBfTyA— Ghost鬼 𝓰𝓶𝓰𝓷𝓪𝓲 💹🧲 (@eth_taco) November 13, 2025
Strategist Liz Thomas noted divergence with gold performance. “Dollar weakness hasn’t helped Bitcoin, but it’s helped gold,” Thomas observed.
Traders Bet on Further Downside
Polymarket traders priced a 66% probability of the cryptocurrency reaching $95,000 in November, while Kalshi participants assigned 37% odds to another S&P 500 company announcing Bitcoin purchases this year.
ETF redemptions contributed to downward pressure, while liquidation events marked Q4’s largest forced closure day.
