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Bitcoin falls to $85,700, lowest in seven months
Bitcoin fell 7.3% to US$85,700 in the 24 hours leading up to 11:50 p.m. ET on November 20, reaching its lowest point in nearly seven months.
The drop follows the latest US jobs report, which showed the economy added 119,000 jobs in September, well above the Dow Jones estimate of 50,000.
This data has raised concerns that the Federal Reserve may delay interest rate cuts, putting further pressure on the cryptocurrency market.
The Crypto Fear & Greed Index stayed at 11, indicating “extreme fear,” while the broader cryptocurrency market slipped 6.6% during the same period.
Vincent Liu, CIO at Kronos Research, said thin liquidity and short-term selling are amplifying the decline as the market reacts to macroeconomic data.
LVRG Research director Nick Ruck described the correction as a “healthy repricing” after last month’s rally, noting that on-chain metrics suggest selling pressure may be stabilizing.
🔗 Source: The Block
🧠 Food for thought
Implications, context, and why it matters.
Spot Bitcoin ETF flows, missing from the News Article, drove BTC moves in 2024–2025
- US spot Bitcoin ETFs bled cash during the selloff 1. BlackRock’s iShares Bitcoin Trust (ticker IBIT) lost more than $355 million on November 20. Total ETF outflows reached about $903 million that day, with weekly withdrawals near $964 million 1. Selling pressure went beyond thin liquidity.
- Arthur Hayes, co-founder and former CEO of BitMEX, tied the withdrawals to hedge funds unwinding basis trades 2. These paired positions go long spot or ETF shares and short futures to capture a spread. The spread fell from about 14% in October to below 5% 2.
- ETF flow tracking helps separate structural selling from noise. Farside Investors data, cited by AMBCrypto, records outflows since November 12 2. That pattern hints at institutional repositioning into year-end.
Volatility lifts demand for real-time liquidation tracking for financial technology (fintech) and data vendors
- Sharp one-day drops trigger forced liquidations when margin falls below requirements. Real-time heatmaps and exchange-level metrics help spot where stress concentrates 3. Providers can integrate with crypto brokers that want client risk alerts.
- Traders want automated notifications when liquidation clusters form. Data firms that offer Application Programming Interface (API) access to likely liquidation zones can win deals with retail platforms or institutional desks.
- Extreme fear in the News Article lifts demand for risk tools. When sentiment slumps to these levels, risk features help crypto brokers stand out. B2B data teams can pitch protection-focused signals now.
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