Bitcoin fell below $73,000 on Thursday, November 12, and the Federal Reserve bitcoin price impact showed up fast: the coin touched $72,735 on Binance after a week of forced selling and a hotter inflation report. Traders who were leaning on borrowed money took the hit first, while the broader crypto market stayed pinned under pressure.
Monday’s $1.15 billion flush
$1.15 billion was liquidated on Monday, November 9, and about $1.04 billion of that was longs. The move started after reports of a probe involving Jensen Huang and stalled U.S.-Iran talks hit risk assets, leaving leveraged buyers exposed as prices broke lower.
$723 million more was liquidated on Tuesday, November 10, with roughly $570 million from longs. That came after a hot inflation report lifted the odds that the Federal Reserve hikes interest rates in December, so the sell-off shifted from a single shock to a broader macro unwind.
Bitcoin, Ether, Solana, XRP
9.4% was Bitcoin’s drop from the November 4 close when it traded at $72,969, its weakest level since August 20. Over the same seven-day stretch, Ethereum lost 16.4%, Solana lost 14.7%, and XRP lost 21.3%, showing the slide was spreading well beyond one coin.
$2.42 trillion was CoinGecko’s value for the whole crypto market on Thursday, with Bitcoin accounting for 60.5% of that total. That concentration means the move in Bitcoin still dominates the tape, but the rest of the market is not absorbing the shock cleanly.
OKX still leans long
3.11 accounts on OKX held Bitcoin longs for every one short account, up from 2.43 on November 4. Longs lost $27.6 million over the past 24 hours on OKX Bitcoin, Ether, Solana, XRP and Dogecoin futures, while shorts lost $12.3 million, and the funding rate stayed positive at 0.0092% every eight hours, roughly 6% a year over the past week.
$3.85 billion in open interest on OKX’s Bitcoin futures was unchanged from before Monday’s flush, so the market keeps absorbing liquidations while more traders remain positioned for a rebound. If Bitcoin loses the next support, that same leverage can force another round of selling before the market gets relief.
