Bitcoin Crashes to $68,617 as $60B Vanishes From Crypto in Four Hours

Bitcoin slid to $68,617, its weakest level in three months, and the plunge came fast. The trouble started when BTC lost $72,000; from there it tore through $70,000 and then $69,000, and every broken level triggered another round of forced selling. Hundreds of millions of dollars in leveraged bets were flushed out inside a single hour.

Bitcoin sits 6.6% lower over 24 hours and down 9.5% on the week. Ethereum dropped 6.0% and is trading at $1,926.48 after shedding 13.7% in seven days. XRP is parked at $1.00, down 4.5% on the day and 17.5% on the week — the worst weekly hit among the top 10 coins — with its market value shrunken to about $63.8 billion. Roughly $60 billion drained from the total crypto market in just four hours, according to reports.

The pain landed hardest on traders betting on higher prices. When the market moves against them, their positions close automatically, and that selling feeds the slide. Liquidation tallies vary by source, but CoinPedia notes every count shows a sharp spike.

XRP was hovering between $1.05 and $1.06 earlier in the week before dropping onto the $1 line that traders treat as a psychological floor. Big altcoins have taken a heavier beating than Bitcoin across the seven-day stretch.

US spot Bitcoin ETFs are adding to the pressure. From November 5 to November 11, the funds logged five consecutive days of net outflows totaling about $1.44 billion. BlackRock's IBIT alone bled $269.7 million on November 11 — its ninth straight outflow session — bringing that run to roughly $2 billion.

The crypto drop is riding a broader retreat from risk. Bitcoin's market value has fallen to about $1.38 trillion, roughly 46% under its record high of around $126,198 from October 2025. On the chart, Bitcoin keeps printing lower highs; buyers would first need to reclaim $70,000, then $72,000 where the breakdown began.