Bitcoin falls to $65,000 as ETF outflows and hot US PPI weigh

Bitcoin hit a fresh weekly low on Nov. 14: at about 1:20 p.m. ET it traded near $65,880 on Binance (−4.3% over 24 hours), after touching $65,000 during the day. BTC is down roughly 13% over seven days and about 20% over 30. The slide coincides with outflows from spot ETFs and hot US inflation data.

Details

The Bureau of Labor Statistics released October producer prices on Nov. 13: final demand rose 0.3% on the month and 6.5% year over year, the fastest annual rise since November 2022. The core measure excluding food, energy and trade services gained 0.5% on the month and 4.9% on the year. US Treasury data show the 10-year yield at 5.15% on Nov. 13 (+31 bps in five days) and the 2-year at 4.88% (+42 bps).

US spot bitcoin ETFs keep bleeding. Farside data cited by CryptoSlate show a net outflow of $185.4M on Nov. 13 and $1.065B over five straight sessions. Our own figures for the previous day are in the $284M outflow report and on the ETF flows page.

CryptoSlate, citing Coinbase Institutional data as of Nov. 10, says about 855,000 BTC last moved between $65,000 and $68,000, a cost-basis cluster the market is now testing. That is a single-source estimate. The same report cites Glassnode data showing accumulation by wallets holding 100⁠–⁠10,000 BTC.

What it means for the market

Faster inflation, rising yields and ETF outflows tend to weigh on risk assets. The dollar moved modestly on the day: DXY at 103.41 (+0.23%), oil near $88.6 (−0.2%). Bitcoin's daily RSI(14) sits near 21, deeply oversold territory. That describes market conditions, not a forecast.

For the live price and daily move, see the daily brief and the Bitcoin page. This is not investment advice.