Bitcoin News Today: Crypto's $1.1B Liquidation Wave Echoes FTX's Systemic Shock

The cryptocurrency market is grappling with a sharp selloff, with over $1.1 billion in liquidations recorded in a 24-hour period as of November 14, 2025, according to CoinGlass data. Long positions accounted for the majority of the losses, with $968 million wiped out, signaling a reversal of bullish bets as Bitcoin (BTC-USD) and other digital assets tumbled. This surge in forced closures has drawn comparisons to the 2022 FTX collapse, with analysts noting similar levels of market stress.

Bitcoin, the largest cryptocurrency by market capitalization, fell below $100,000 for the first time in months, trading at $96,847.63 as of press time according to market reports. The drop coincided with $870 million in outflows from U.S.-listed Bitcoin ETFs, the second-largest single-day withdrawal since their launch. Ether (ETH-USD) also faced pressure, sliding 2.3% to $3,157.87, while altcoins like XRP, BNB, and Solana (SOL-USD) saw double-digit declines according to market analysis.

The liquidation wave was concentrated on major exchanges, with Hyperliquid and Bybit each reporting over $130 million in long-position closures. The largest single liquidation was a $44.29 million BTC-USDT position on HTX according to exchange data. Analysts attribute the volatility to excessive leverage, with many traders using 50x or 100x margin. Even minor price swings triggered cascading liquidations, exacerbating the downturn.

Technical indicators underscored the bearish sentiment. Bitcoin's Relative Strength Index (RSI) plunged into oversold territory, matching levels seen during the FTX crisis. The asset also dipped below its lower volatility band-a rare occurrence last seen in 2022. Meanwhile, the Crypto Fear & Greed Index hit an extreme fear reading of 10, its lowest since February 2025.

The selloff has been fueled by macroeconomic headwinds. Federal Reserve officials have signaled hesitation toward rate cuts, with markets now pricing in only a 40% chance of a December reduction. This uncertainty has spooked investors, accelerating capital outflows from risk assets. Bitcoin ETFs have seen $2.3 billion in net redemptions over two weeks, while long-term holders sold 815,000 BTC in the past 30 days, per Glassnode.

Market participants are debating whether the decline marks the start of a new bear market or a sharp correction. The Kobeissi Letter noted that the crypto market has shed $1.1 trillion in 41 days, averaging $27 billion in daily losses. This decline follows a record $19.2 billion liquidation event on October 10, highlighting structural fragility in a sector reliant on leveraged trading.

Despite the turmoil, some analysts see a potential bottoming process. The market is undergoing a structural reset driven by forced liquidations, not fundamentals," said a research note from The Kobeissi Letter. However, with Bitcoin nearing its $93,000 support level and gold outperforming crypto by 25 percentage points in October, the path to recovery remains uncertain.

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