Bitcoin slides to $62,112, its lowest since July, and ether falls to $1,711 as about $2 billion in crypto bets are wiped out

Bitcoin's slide deepened over the weekend. The largest cryptocurrency fell 5.7% during U.S. trading on Saturday and lost another 3.6% in Asia on Sunday, touching $62,112, its weakest level since July 14, according to Bloomberg. It is now down about 25% since October 21, though still above its 2026 low of $57,742, set on July 1.

Ether fell harder. It dropped 8% on Saturday and a further 3.4% on Sunday to $1,711, its lowest since July 8.

Forced selling did much of the damage. About $2 billion of leveraged crypto positions were closed out in the 24 hours to 9 a.m. Sunday in Singapore, including $774 million in bitcoin and $488 million in ether, CoinGlass data showed. Most were long positions. That followed about $1.3 billion of long liquidations on Friday.

Rich Rosenblum, co-founder of market maker GSR, told Bloomberg the move was technical, saying bitcoin's break below its 200-day average "has caused a slew of liquidations and new shorts to develop." Richard Galvin, executive chairman of DACM, said Anthropic's upcoming IPO may be drawing money away from crypto.

U.S. spot bitcoin ETFs had almost $3 billion of net outflows from October 30 to November 13. The next flow figures arrive after Monday's session.