Bitcoin rebounds above $65K after slide below $62K strains markets

Bitcoin briefly slipped below $62,000 before rebounding above $65,000, ending a volatile trading session well below the $81,000 level recorded on November 4, according to Blockonomi and Crypto.news. The move extended a broader decline, with the live market snapshot showing BTC at $65,520, down 1.99% over 24 hours and 13.72% over seven days.

Institutional flows and macro concerns featured prominently in the selloff narrative. Blockonomi, citing SosoValue, reported that U.S. spot Bitcoin ETFs recorded $1.91 billion in net outflows across seven trading sessions through November 13. Crypto.news also attributed the decline to those ETF outflows, fears about Federal Reserve interest rates and losses in technology stocks, though the other supplied summaries do not quantify the contribution of each factor.

Leveraged positions were unwound as the price moved lower. BeInCrypto, Bitcoin Sistemi and Crypto.news all place crypto liquidations above $2 billion, while Blockonomi’s more precise 24-hour estimate was approximately $2.02 billion, including about $750 million in one category. BeInCrypto additionally described $62,000 as Bitcoin’s lowest level since July and said the decline erased months of gains.

The interpretation of the move differed across the coverage. BeInCrypto reported that some analysts believed large market participants orchestrated the crash, while others favored a simpler explanation without specifying it in the supplied summary. Crypto.news carried a more concrete response from BTC.TOP founder Jiang Zhuoer, who sold all small-cap DeFi tokens after Bitcoin approached $62,000, warned of a possible $57,800 downside level and said he would pause trading.

Verified network and sector data show that the selloff occurred against a $3.44 billion Bitcoin DeFi total value locked, according to DeFiLlama, while Bitcoin’s network hashrate stood at 933 EH/s and difficulty at 134.8 trillion, based on mempool.space. Those readings describe the surrounding network conditions rather than identifying a cause for the price decline.

The broader market remains under pressure: total crypto market capitalization is $2.28 trillion, the overall market is broadly down and the Fear & Greed index stands at 10, labeled Extreme Fear. The levels around $62,000 and the recovered $65,000 area are immediate reference points, while ETF flows, further liquidations, the $57,800 level cited by Jiang and broader risk sentiment will determine whether selling pressure continues or the recovery holds.