Market Today▼ Bearish
Why is crypto down today? Bitcoin fell 6.5% to $68,940 as forced selling and a strong dollar hit
TradingGain Newsroom··12 Nov 2026, 18:30 UTCBitcoin fell 6.46% in the last 24 hours to about $68,940, and Ethereum dropped 5.87% to about $1,932. Only 69 of 266 tracked coins rose over the same period. The most likely reasons are large liquidations in the futures market, a strong US dollar, and steady outflows from Bitcoin ETFs.
Updated 10:00 ISTRefreshes every 2 hours from live Binance futures data
Market breadth69 / 266coins up in 24h
Fear & Greed20Extreme Fear · yesterday 28
BTC funding0.0047%per 8 hours
BTC open interest-3.29%24h · $6.97B
What moved the market
- Large futures liquidations forced leveraged traders to close positions, which can add selling pressure. Bitcoin open interest also fell 3.29% in 24 hours.
- The Dollar Index hit a 19-month high, which may make risk assets like crypto harder for traders to hold.
- U.S. Bitcoin ETFs posted five straight days of net outflows, about $1.44 billion between November 5 and November 11, pointing to weaker demand.
- Nvidia CEO Jensen Huang stepped down, pulling tech shares lower and spreading the selloff into crypto. Sentiment worsened to Extreme Fear, with the index at 20 versus 28 yesterday.
What to watch next
Traders may watch whether Bitcoin holds support at $70,273 and then $69,123, since a break below these levels could signal more pressure. A move back above resistance at $73,383 would be an early sign of recovery, while $75,342 is the next level to watch.
Bitcoin levels to watch today
Resistance 2$75,342
Resistance 1$73,383
Pivot$72,232
Support 1$70,273
Support 2$69,123
Classic daily pivot levels for BTC, calculated from the last completed daily candle.
BTCLive chartOpen full chart →
Written by TradingGain from live Binance futures data, the Fear & Greed Index and today's top stories.Live update →