Bitcoin Falls Below $100K to $98,377; $658M Liquidations Shake Market
Bitcoin dropped to $98,377 on Nov. 13, pushing $657.88 million worth of crypto positions into liquidation across exchanges. Longs accounted for roughly $533.57 million of the forced closures, underscoring that leveraged bullish bets took the brunt of the sell-off. The sudden move briefly pushed the flagship crypto back below the psychologically important $100K level.
The liquidation wave highlights persistent volatility and concentrated leverage in crypto derivatives, which can amplify price swings and stress funding rates. For traders and market watchers, the episode is a reminder that concentrated long exposure remains a key source of downside risk; for the broader market it may temper short-term sentiment until volatility cools. Observers will be watching whether spot buyers step in near current levels or if further deleveraging extends the pullback.