Bitcoin Price Falls Near $74,500 as Crypto Liquidations Top $1 Billion

The Bitcoin price slipped about 2% to trade near $74,500 on Sunday, November 9, after briefly dipping to around $73,700, as more than $1 billion in leveraged crypto positions were wiped out and investors pulled money from US spot Bitcoin exchange-traded funds (ETFs) ahead of key US inflation data.

Ethereum fell harder, losing around 4.6% to about $2,127, as selling spread across the wider crypto market over the weekend.

Bitcoin Price and Crypto Market at a Glance

• Bitcoin (BTC): about $74,500, down around 2%; intraday low near $73,700
• Ethereum (ETH): about $2,127, down around 4.6%
• Total liquidations: more than $1 billion in 24 hours
• Long positions liquidated: about $931 million
• ETH liquidations: about $455 million; BTC liquidations: about $278 million
• Largest single liquidation: about $48 million on an ETH position
• US spot Bitcoin ETF weekly outflows: about $1.28 billion

Why Is the Bitcoin Price Falling?

The main driver was a wave of forced selling in the derivatives market. Traders who had borrowed money to bet on rising prices were hit as prices moved lower, and exchanges automatically closed their positions. Of the more than $1 billion liquidated, around $931 million came from long positions, which shows how many traders were positioned for gains.

When these positions are closed, exchanges sell the underlying coins, which pushes prices down further and can trigger more liquidations. This chain reaction is why crypto prices can fall sharply in a short time even without major news.

ETF Outflows Add Pressure

Institutional demand also cooled. US spot Bitcoin ETFs recorded weekly net outflows of about $1.28 billion, with the largest fund, BlackRock’s iShares Bitcoin Trust (IBIT), accounting for roughly $1.21 billion of that amount. ETF flows are watched closely because they show whether large investors are adding to or reducing their exposure to Bitcoin.

Steady ETF buying supported prices for much of the past two years, so a week of heavy outflows is seen as a sign that some institutions are taking risk off the table.

US Inflation Data in Focus

Markets are now looking ahead to the US Consumer Price Index (CPI) report due on November 10. Inflation numbers shape expectations for US interest rates, which in turn affect demand for risk assets such as stocks and cryptocurrencies.

• A higher-than-expected CPI reading could raise fears of tighter monetary policy and add more pressure on the Bitcoin price.
• A softer reading could ease those fears and help crypto markets recover.

What It Means for Pakistani Crypto Investors

For investors in Pakistan who hold or trade digital assets, sharp moves like this are a reminder of the risks in the market:

• Avoid high leverage: most of the losses in this sell-off came from leveraged long positions.
• Use regulated platforms: Pakistan is building a regulatory framework for virtual assets, and investors should follow official guidance.
• Watch global data: US inflation and interest rate news can move crypto prices in Pakistan within minutes.
• Rupee impact: local prices also depend on the dollar-rupee rate, so gains or losses in rupee terms can differ from dollar prices.

Over the past few weeks, the market had already shown signs of fatigue, with buyers less willing to chase prices higher. The weekend sell-off, coming at a time of thin trading, made the drop sharper than usual.

Bitcoin Price Outlook

Analysts are watching whether Bitcoin can hold above the $73,000 to $74,000 zone after the weekend sell-off. The next big signals will come from the US CPI report and from whether ETF flows turn positive again this week. Until then, the Bitcoin price is likely to stay volatile, and traders are advised to manage risk carefully.

This article is for information only and is not investment advice.

For official updates, visit the US Bureau of Labor Statistics (CPI).

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