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
$98 670
24h volatility:
2.5%
Market cap:
$1.97 T
Vol. 24h:
$93.22 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
$3 200
24h volatility:
6.0%
Market cap:
$386.08 B
Vol. 24h:
$43.90 B
traded at $3,267, Solana
SOL
$143.6
24h volatility:
6.2%
Market cap:
$79.61 B
Vol. 24h:
$6.28 B
at $147.91, and XRP
XRP
$2.32
24h volatility:
0.6%
Market cap:
$139.69 B
Vol. 24h:
$6.46 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.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
As a Web3 marketing strategist and former CMO of DuckDAO, Zoran Spirkovski translates complex crypto concepts into compelling narratives that drive growth. With a background in crypto journalism, he excels in developing go-to-market strategies for DeFi, L2, and GameFi projects.
Zoran Spirkovski on X
Source: https://www.coinspeaker.com/bitcoin-drops-below-100k-triggers-657-million-crypto-liquidations/