Bitcoin Touches $61,946 as Leveraged Positions Unwind

What happened: Bitcoin fell to $61,946 on Coinbase in early European trading on November 15, its weakest level since July, before the higher price reflected in the supplied market snapshot. Reported weekly losses reached approximately 15% for Bitcoin, 19.5% for Ether and 20.7% for Solana, while aggregate crypto market capitalization fell roughly 4% over 24 hours to $2.26 trillion. Separate reporting put liquidations near $2 billion over 24 hours, with approximately 87% involving long positions and more than 312,000 traders affected.

Why it matters: The concentration of liquidations in long positions is consistent with leveraged bullish exposure amplifying the downturn, although liquidation totals do not identify the original trigger. Bitcoin’s subsequent move above the reported low also shows why an intraday extreme and a later market snapshot must be presented separately. With the Fear & Greed Index at 10, versus 13 on Saturday and 20 on Friday, sentiment measures document worsening anxiety; they do not establish when selling will end.

Source: Cointelegraph; Stablecoin Insider.