Nvidia’s leadership crisis and a widespread Microsoft outage coincide with renewed uncertainty across risk assets. Leveraged long positions account for more than 90% of cryptocurrency liquida
Bitcoin fell sharply on November 13 as a wave of leveraged liquidations swept through cryptocurrency markets, coinciding with major technology-sector disruptions involving Nvidia and Microsoft.
The selloff unfolded against a backdrop of uncertainty surrounding U.S. monetary policy, with investors preparing for the Federal Reserve’s final scheduled meeting of the year. Although the technology developments added to an unsettled news environment, their direct contribution to cryptocurrency selling has not been established.
Nvidia announced a major leadership transition on November 12, with longtime chief executive Jensen Huang stepping down after more than three decades leading the semiconductor company.
According to the company’s official announcement, Chief Financial Officer Colette Kress was appointed interim CEO, while Harvey C. Jones assumed the position of independent board chair.
The transition followed a corporate governance controversy involving Huang and an investigation into allegations of a possible foreign intelligence operation targeting the executive.
In a separate board statement, Nvidia said it had no reason to believe company secrets or national security had been compromised. The allegations remain distinct from any established finding of wrongdoing.
The leadership upheaval introduced uncertainty around a company central to global artificial intelligence infrastructure and semiconductor investment.
For cryptocurrency markets, the development formed part of a broader environment in which technology valuations, financing conditions and investor risk appetite were already under scrutiny.
A separate technology disruption emerged as Microsoft users reported difficulties accessing Outlook, Teams and other Microsoft 365 applications, according to CNN.
The company’s official service-health dashboard reported service degradation affecting cloud-based products, creating operational difficulties for organizations dependent on Microsoft’s communications and productivity infrastructure.
The outage added another major technology headline during an already volatile trading session. However, the available service-status information does not establish how many users were affected or whether the disruption influenced cryptocurrency transactions.
Investors were also looking ahead to the Federal Reserve’s December policy decision.
The central bank’s official calendar schedules its next Federal Open Market Committee meeting for December 8–9, including updated economic projections.
Changes in interest-rate expectations can influence demand for leveraged positions, particularly in speculative markets where financing conditions and investor confidence play important roles.
Cryptocurrency liquidations reached $1.65 billion over the preceding 24 hours, according to Coinglass, with 186,961 traders forced out of leveraged positions.
Long positions accounted for $1.46 billion, representing 88.8% of the total, while short liquidations reached $184.06 million. The concentration of losses among bullish traders reflects the pressure created by Bitcoin’s accelerating decline.
Bitcoin alone generated $919.20 million in liquidations, equivalent to approximately 55.7% of the market-wide total. Ethereum followed with $288.75 million, while Solana recorded $57.80 million.
The largest individual liquidation was a $31.09 million BTC-USD position on Hyperliquid. Binance accounted for 35.3% of exchange-level liquidations, making it the largest contributor among the platforms tracked.
The pace of forced selling was particularly intense during the latest 12-hour window, which accounted for $1.07 billion of the 24-hour total. Four-hour liquidations reached $247.51 million, suggesting that the heaviest wave of position closures occurred earlier in the reporting period.
The figures show how overcrowded leveraged long positions had become, with Bitcoin responsible for the majority of forced closures as the market broke through key price levels.
Crypto Market Prices
November 13, 2026 | 08:23 UTC Asset Price 24h 7d BTC $68,744.68 -6.80% -9.44% ETH $1,926.93 -5.88% -13.52% BNB $627.69 -6.72% -9.08% XRP $1.02 -1.60% -13.78% SOL $79.57 -3.96% -11.31% HYPE $71.39 +0.14% -7.93% ZEC $935.27 -5.05% -26.35% DOGE $0.06423 -4.05% -10.67%Source: CoinMarketCap. Prices at the time of writing.
The correction spread across major cryptocurrencies, although the scale of the decline varied considerably.
Ethereum remained under pressure after losing the $2,000 area, while Solana and BNB extended their weekly corrections. XRP also weakened as traders reduced exposure across larger digital assets.
Zcash experienced one of the sharpest reversals among the cryptocurrencies shown in the market snapshot. Its decline was considerably steeper than those recorded by Bitcoin and Ethereum over the preceding week.
Hyperliquid’s HYPE displayed greater relative resilience during the latest session, although its broader weekly trend remained negative.
Stablecoins provided a contrast. USDT and USDC continued trading close to their dollar pegs, maintaining their role as relatively stable settlement assets during the market disruption.
CoinMarketCap’s Fear and Greed Index stood at 19, reflecting extreme fear, while its broader market indicators showed losses extending beyond the largest cryptocurrencies.
Bitcoin’s daily chart shows a succession of lower highs and lower lows since its early October peak, with selling accelerating after the price lost the $80,000 region.
Bitcoin breaks below $69,000 as the bearish trend accelerates. Chart by Alexander Zdravkov, TradingView.
The latest decline pushed BTC below $70,000, extending the bearish structure rather than establishing a new support level. The November 13 session reached an intraday low of $67,555 on Coinbase, leaving that price as the nearest observable downside reference.
A recovery above $70,000 would represent an initial attempt to regain lost ground, although a sustained move would be needed before the short-term trend could improve. Below the session low, the chart shows a historical trading area around $64,000–$66,000 that may attract attention if selling continues.
The broader structure remains bearish, with successive rebounds failing to recover previous highs. The November 13 daily candle is still developing, meaning its final closing price could materially change the immediate technical assessment.
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