Why is crypto down today? Solana falls below $75 and Bitcoin slides toward $65,000, leaving Strategy's 850,364 BTC about 13% below cost
The move extends a week in which Bitcoin broke below $70,000 for the first time since August, as covered in our report on that break, and US spot Bitcoin funds turned negative for the year, covered in our ETF outflows report. Saturday's trading is thin, which tends to exaggerate moves in both directions.
What happened
Solana gave way first. CryptoTicker reports that SOL fell below $75 for the first time in this sell-off overnight into Saturday and has now erased the whole rally that started in August: it is down about 29% from $106.94 on October 22. Altcoin Buzz had flagged $76.39 as a floor that held seven times since February; that level is now well above the price. CryptoTicker lists the next chart support at the early-August closes of $72.63 and $71.89, with the 12-month low at $62.18 from June. US Solana funds have also seen several weeks of outflows, including about $1.9 million on November 12, though they still hold about $1.41 billion of net inflows since launch.
Bitcoin is down about 13% over seven days. US spot Bitcoin ETFs reported a net outflow of about $185 million on Friday, November 13, the seventh straight session of redemptions, led by BlackRock's IBIT and Fidelity's FBTC, according to Farside Investors and SoSoValue data. Rates are part of the backdrop: prediction markets price a quarter-point Fed hike on December 9 at above 90%, and the Crypto Fear and Greed Index fell to 13 on Saturday from 20 a day earlier, according to CryptoTicker.
Strategy, the largest corporate holder, is now well under water. The company holds 850,364 BTC bought at an average of $75,456, about $64.16 billion in total, according to 24/7 Wall St., which also notes that MSCI will remove Strategy from its global standard indexes, including the MSCI USA Index, at the close of November 30. That forces index funds tracking those benchmarks to sell the shares. Strategy stock closed Friday at $111.62, down 2.4%, according to Twelve Data. We covered the index decision in our MSCI report.
What the market is pricing
| Asset or contract | Price | Change |
|---|---|---|
| Solana (SOL) | $74.24 | -5.1% day, -17.3% week |
| Bitcoin (BTC) | $65,905 | -3.5% day, -13.2% week |
| Ether (ETH) | $1,850 | -4.1% day, -17.5% week |
| Strategy holdings at $65,905 | about $56.0B | about $8.1B (12.7%) below cost |
| Polymarket: BTC dips to $65,000 in November | 88.5% | +38 points in 24 hours |
| Polymarket: BTC dips to $65,000 in 2026 | 93.5% | from 84.5% earlier Saturday |
| Polymarket: BTC dips to $60,000 in 2026 | 56.5% | +20 points in 24 hours |
| Polymarket: BTC dips to $60,000 in November | 34.5% | +19 points in 24 hours |
The yearly $65,000 contract has climbed from 84.5% early Saturday, as covered in our earlier report, to 93.5% with Bitcoin trading about $900 above that level, and the November contract at the same strike has jumped 38 points in a day to 88.5%. The yearly $60,000 contract, at about 56.5%, is now the line where traders are split. On the upside, a return to $75,000 this month is priced at 13.5% and $80,000 at 4.5%. Every strike, up and down, is on our new live Bitcoin price prediction odds page, with the matching Ethereum ladder alongside.
Why it matters
Solana's break matters because it was the market's highest-beta large coin through the autumn rally, and its fall back to August levels shows how much of that rally has been unwound. Strategy matters because it is the single largest buyer of Bitcoin. While the coins sit below cost, the company has fewer easy ways to raise money for new purchases without diluting shareholders, and 24/7 Wall St. reports that it has already sold about $431.8 million of Bitcoin this year to fund preferred dividends and buybacks, while holding about $5.07 billion in dollar assets. The MSCI exit adds a known seller of the shares at the end of the month. None of that forces Strategy to sell its Bitcoin, but it removes a source of demand that supported prices for most of the past two years.
Leverage is the other factor. When prices fall through levels where many long positions have their liquidation prices, forced selling can push the market through several strikes quickly. BetG8's live funding rates page shows how crowded the long side still is on Hyperliquid, and the whale tracker lists the largest open positions.
What to watch next
First, whether Bitcoin holds above $65,000 through the weekend: both the November and the yearly dip contracts at that level are priced close to settled, so the next test for traders is $60,000. Second, Monday's ETF flow data, which will show whether the run of seven outflow days continues. Third, the Fed decision on December 9 and the January meeting, which our live Fed odds page tracks. Fourth, the November 30 MSCI rebalance for Strategy.
Method and limits
Spot prices are Twelve Data quotes from Binance at about 15:05 UTC and will change. Strategy's holdings and cost basis are from the company's most recent disclosure as reported by 24/7 Wall St.; the value at market is a BetG8 calculation at the stated price. Polymarket prices are from the public Gamma API. ETF flows are as reported from Farside Investors and SoSoValue data. Nothing here is a forecast by BetG8 or investment advice.
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Frequently asked questions
Why is crypto down today?
On November 14, 2026, crypto extended a week-long sell-off into the weekend. Solana fell to about $74, its lowest since mid-August, Bitcoin to about $65,900 and Ether to about $1,850, after seven straight days of outflows from US spot Bitcoin ETFs and with markets pricing a December Fed rate hike.
Why is Solana down today?
Solana fell about 5% on November 14, 2026 to around $74, breaking a $76.39 support level and erasing its rally since August. It is down about 17% over seven days and about 29% from October 22, according to CryptoTicker and Twelve Data.
Is Strategy's bitcoin below cost?
Yes. Strategy holds 850,364 BTC at an average cost of $75,456. At $65,905, the price at about 15:05 UTC on November 14, 2026, the holdings were worth about $56 billion, roughly $8.1 billion or 12.7% below cost.
Sources
- CryptoTicker, Solana price at lowest since August
- Altcoin Buzz, Solana sits on $76.39 floor
- 24/7 Wall St., Saylor's $64 billion Bitcoin pile is underwater
- TokenPost (SoSoValue data), Bitcoin ETF flows, November 13
- Farside Investors, Bitcoin ETF flow data
- Twelve Data, SOL, BTC, ETH and MSTR quotes, read about 15:05 UTC
- Polymarket, Bitcoin price markets, read about 15:17 UTC
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.