Bitcoin drops to $62,900, its lowest since early August, and Ether sheds 10% in a day
Bitcoin is down about 8% in 24 hours and 5.9% since our morning report, with every major coin we track down at least 8%. Fear & Greed reads 10, "extreme fear". We could not find a single confirmed trigger.
Bitcoin traded at about $62,819 on Coinbase at 8:21 PM ET Saturday, down 7.9% from the price 24 hours earlier. Ether was at $1,735, down 9.9%. When we published our morning report at about 8:06 AM, Bitcoin was $66,739 and Ether $1,891, so the evening slide is 5.9% for Bitcoin and 8.3% for Ether in about twelve hours.
The numbers
| Coin | Price | 24 hours | 7 days |
|---|---|---|---|
| Bitcoin (BTC) | $62,819 | -7.9% | -15.9% |
| Ether (ETH) | $1,735 | -9.9% | -18.6% |
| Solana (SOL) | $69.37 | -9.9% | -20.1% |
| XRP | $0.9207 | -8.3% | -17.4% |
| Dogecoin (DOGE) | $0.0565 | -11.9% | -18.2% |
| Cardano (ADA) | $0.1462 | -12.5% | -16.9% |
| Chainlink (LINK) | $8.82 | -9.8% | -15.7% |
| Avalanche (AVAX) | $6.94 | -15.0% | -12.7% |
Coinbase Exchange prices at about 8:21 PM ET on November 14. The 24-hour change compares the last trade with the price 24 hours earlier. The 7-day change compares it with the daily close a week ago (UTC). Bitcoin's 24-hour range on Coinbase was $62,534 to $68,250.
A cross-check, and a level
The move is not a single-exchange glitch. CoinGecko's aggregate price showed Bitcoin down 7.7% and Ether down 9.8% over 24 hours at the same time, and Binance.US's 24-hour ticker showed Bitcoin down 7.9%. Our own six-month chart puts Bitcoin about 27.5% below its September 21 peak. On Coinbase's daily data, the session low of $62,534 is the lowest since August 2, when the low was $62,210.
The Crypto Fear & Greed Index now reads 10, "Extreme Fear", down from 13 this morning in our earlier report.
What caused it: we could not confirm one
Several outlets were running price pieces on the drop: CoinDesk had stories on Bitcoin hitting a three-month low and entering what an analyst called a "deep value zone," and Investing.com ran "Ethereum Falls 10% In Rout." Both sites blocked our automated fetch, so we have only their headlines and cannot report what they say about causes. We found no exchange failure, regulatory action, hack or large forced seller confirmed by a primary source or two outlets in the hours of this slide.
The backdrop is not new. Cointelegraph reported that U.S. spot Bitcoin ETFs have shed $2.35 billion in two weeks, with BlackRock's fund on an 11-session outflow streak, and our morning report covers the Fed-hike pricing and Friday's weakness in stocks. Those explain why buyers were scarce. They do not by themselves explain why the drop accelerated on a Saturday, and we are not going to guess.
What traders are watching
- Weekend liquidity. Order books are thinner on Saturdays and Sundays, which can exaggerate moves in both directions.
- The weekly close on Sunday evening, and whether $62,000 and the early August lows hold.
- ETF flow data on Monday, to see whether the outflow streak extends.
- Futures reopening Sunday evening, when stock-index futures show whether risk appetite carries over.
Live quotes are on crypto prices and crypto movers.
| Coin | Price | 24h |
|---|---|---|
| Bitcoin BTC | … | … |
| Ethereum ETH | … | … |
| Solana SOL | … | … |
| XRP XRP | … | … |
| Dogecoin DOGE | … | … |
| Cardano ADA | … | … |
| Chainlink LINK | … | … |
| Avalanche AVAX | … | … |
Sources: Coinbase Exchange price data; CoinGecko; Binance.US; alternative.me Fear & Greed Index; Cointelegraph; CoinDesk and Investing.com (headlines only). Crypto assets are volatile. This is market information, not investment advice.
Want your business to be the answer?
Get a full package of articles about your business, built so customers, Google and AI assistants can find you.
New ebook from The Company ChronicleHow to Research Like a Wall Street AnalystFind original sources, analyze trends, and build your own insights. 36 pages with worksheets.Get the ebook · $29Instant PDF download