Why is bitcoin down this week? BTC touches $65,000 for the first time since August, down 14% in seven days, as $60,000 odds reach 57.5%
This is an update to our morning report on the $65,000 contract, which was priced at 81.5% at 08:10 UTC. The level that market was built around has now been touched, so this piece looks at the whole week and at what traders are pricing next.
What happened
Binance's daily data shows bitcoin closing at $75,868 on Saturday, November 7. It has finished lower on four of the six days since, with the two largest falls coming on Thursday, when it closed at $71,460, and Friday, when it closed at $68,314. The slide continued through Saturday in thin weekend trading: the hourly low was $66,543 in the hour from 13:00 UTC, $65,803 from 14:00, $65,067 from 15:00 and $65,000.00 from 16:00.
At 17:08 UTC the last price was $65,146, down 5.32% over 24 hours, inside a 24-hour range of $65,000 to $69,134. Measured from the November 7 close, the decline is about 14.1%. Binance's daily candles show the last time bitcoin traded at or under $65,000 was August 19, when the low was $64,166.
The rest of the market fell harder. On Binance at the same timestamp, ether was at $1,818 (down 5.89% in 24 hours), solana at $72.21 (down 9.40%) and XRP at $0.9481 (down 7.07%). Solana and Strategy's holdings are covered in why crypto is down today.
Bitcoin Magazine and TokenPost described the same sequence: a Friday low near $67,555, a move above $70,000 after the US producer price report that lasted only minutes, then renewed selling that broke Friday's low after 8 a.m. Eastern on Saturday.
What the market is pricing
Spot prices are from Binance as of 17:08 UTC on November 14. Polymarket prices were read at 17:08 UTC from BetG8's live bitcoin price prediction odds page and checked against Polymarket's data feed. Each contract pays out if bitcoin touches the level at any moment before its deadline, so these are odds of a dip, not of a close. The downside ladders are listed on Polymarket only, so there is no Kalshi column.
| Market | Reading, 17:08 UTC | 24h change | At 08:10 UTC |
|---|---|---|---|
| BTC spot (Binance) | $65,146 | Down 5.32% | $67,264 |
| Polymarket: dips to $65,000 by December 31 | 99.95% | Up 30.4 points | 81.5% |
| Polymarket: dips to $60,000 by December 31 | 57.5% | Up 20.0 points | 46.5% |
| Polymarket: dips to $55,000 by December 31 | 32.5% | Up 14.0 points | Not read |
| Polymarket: dips to $62,500 in November | 65.5% | Up 37.0 points | Not read |
| Polymarket: dips to $60,000 in November | 37.5% | Up 22.0 points | Not read |
| Polymarket: hits $70,000 in November | 42.5% | Down 36.5 points | Not read |
The $65,000 year-end contract gained 18.5 points in the nine hours after our morning report and now trades at the ceiling. Polymarket's feed still listed it as open when we read it, with a best bid of 99.9 cents, so we are reporting the price and not a settlement.
The more informative prices are one rung lower. The year-end $60,000 contract moved from 46.5% to 57.5% during the day, which means traders now price a visit to $60,000 before January 1 as slightly more likely than not. Bitcoin would have to fall a further 7.9% from the 17:08 UTC price to get there, and about 4.1% to reach $62,500, the level the November market prices at 65.5%. The chance of a return to $70,000 this month has almost halved in a day to 42.5%.
Why it matters
The reasons given for the week's decline are mostly about interest rates and risk appetite, not about crypto itself. Bitcoin Magazine pointed to a stronger dollar and higher Treasury yields: the 10-year yield reached 5.17% on Friday, a four-week high, and the dollar index sat at its strongest level in 19 months. October producer prices rose 6.5% from a year earlier, the largest 12-month gain since November 2022, even though the monthly rise of 0.3% came in under the 0.4% forecast. Boston Fed President Susan Collins and San Francisco Fed President Mary Daly both spoke in favor of further tightening, and Bitcoin Magazine reported that CME FedWatch showed a quarter-point increase at the December 8 to 9 meeting as fully priced. We covered those remarks in our report on Collins and December hike odds and the inflation data in the October PPI report.
Two other pressures appear in the same coverage. The first is fund demand: Bitcoin Magazine reported about $2 billion of outflows from BlackRock's IBIT over nine straight days through Wednesday and a sixth consecutive day of net outflows across US spot bitcoin ETFs on Thursday. The second is the sell-off in technology shares that followed Jensen Huang's resignation as Nvidia chief executive on Thursday, which the outlet said may have added to the move. Background is in our chip stocks report.
Bitcoin Magazine also reported that mining difficulty fell 9.13% early on Saturday, the largest cut since June. A prediction market price is a snapshot of what traders are paying, and it can reverse as quickly as it moved. BetG8 does not forecast prices.
What to watch next
Sunday is another low-liquidity session, and US stock and bond markets stay closed until Monday, when spot ETF flow data resumes. Nvidia reports third-quarter results on Tuesday, November 17, under interim chief executive Colette Kress, the first earnings since the leadership change. The Federal Reserve decision follows on December 9; current pricing is on our Fed rate decision odds page.
On Polymarket, the November bitcoin ladder closes on December 1 and the year-end ladder on January 1, 2027. Leverage and positioning in futures can be followed on the live crypto funding rates page, and every open bitcoin contract is listed on the Bitcoin topic page.
Method: spot prices and daily and hourly ranges are from Binance's BTC/USDT market, read in this run; macro, ETF and mining figures are as reported by the sources below and were not independently verified.
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Frequently asked questions
Why is bitcoin down this week?
Coverage from Bitcoin Magazine and TokenPost links the decline to higher US Treasury yields, a dollar index at a 19-month high and expectations of a Federal Reserve rate increase in December, after October producer prices rose 6.5% from a year earlier. Outflows from US spot bitcoin ETFs and a sell-off in technology shares were also cited. Bitcoin is about 14% below its November 7 close on Binance.
Did bitcoin hit $65,000?
Yes. Binance's BTC/USDT market recorded a low of exactly $65,000.00 in the hour from 16:00 UTC on November 14, 2026, the lowest price since August 19. Bitcoin traded at $65,146 at 17:08 UTC. Polymarket priced its contract on a dip to $65,000 before December 31 at 99.95% at that time, and the contract was still listed as open.
What are the odds bitcoin falls to $60,000?
At 17:08 UTC on November 14, 2026, Polymarket priced a dip to $60,000 before December 31 at 57.5%, up 20 points in 24 hours, and a dip to $60,000 before the end of November at 37.5%. The $55,000 year-end contract was at 32.5%. These are market prices, not predictions.
Sources
- Binance, BTC/USDT spot ticker and daily candles, read 17:08 UTC
- Polymarket, What price will Bitcoin hit in 2026?, read 17:08 UTC
- Bitcoin Magazine, Bitcoin price falls 14% in a week to $65,000 as weekend selling breaks Friday's low
- TokenPost, Bitcoin weekly decline report, November 14
Market prices, not predictions or advice. 18+. This page reports market prices and published facts; it is not betting, financial or legal advice. If gambling stops being fun, help is available at 1-800-GAMBLER.