Key Notes
- Bitcoin touched $72,643 on Coinbase while Ether, Solana and XRP also recorded afternoon lows.
- CoinGlass showed about $420 million in four-hour liquidations at 17:47 UTC, mostly long positions.
- Later quotes showed a partial rebound, with Bitcoin near $73,007 at 17:49 UTC.
Bitcoin fell below $73,000 on November 10 as selling spread across major cryptocurrencies, with Ether approaching $2,000 and leveraged traders facing another wave of forced position closures.
Coinbase trading data showed Bitcoin reaching $72,643.48 during the afternoon. Ether touched $2,003.24, Solana fell to $81.27 and XRP dropped to $1.0302. The decline brought Ether within $3.24 of $2,000, while Bitcoin briefly traded more than $350 below $73,000.
Prices Recover Part of the Decline
By approximately 17:49 UTC, Bitcoin had recovered to $73,007 on Coinbase. Ether traded near $2,022, Solana at $82.12 and XRP at $1.053. Those quotes place several assets back above their earlier thresholds, while leaving them close to the afternoon’s lows.
The readings are snapshots from one exchange, rather than universal prices across every trading venue. They also separate the lowest prices reached during the slide from the levels available after a partial rebound.
Bitcoin’s afternoon low came in the five-minute interval beginning at 16:35 UTC. The corresponding lows for Ether, Solana and XRP appeared in the interval starting at 15:40 UTC. The data therefore show a broad retreat unfolding over several hours, rather than all four lows occurring simultaneously.
Long Positions Bear Most of the Liquidations
At 17:47 UTC, CoinGlass showed $420.47 million in liquidations over the preceding four hours. Long positions accounted for $329.98 million, compared with $90.49 million in shorts. Bullish bets therefore represented about 78.5% of the total.
The dashboard’s separate 24-hour total was $713.70 million. These are overlapping, rolling windows and should not be added together.
Liquidations occur when an exchange forcibly closes a leveraged position because its remaining margin no longer meets requirements. Closing long positions can add selling pressure during a decline, while rebounds can force out traders whose short positions depended on prices falling further.
The figures measure positions closed across tracked venues. They do not represent the amount withdrawn from exchanges or the fall in cryptocurrencies’ combined market value.
Inflation and Fund Outflows Form the Backdrop
The retreat extended weakness seen after Tuesday’s inflation report. October consumer prices rose 0.4% against expectations of 0.3%, while core prices increased 0.3% against a 0.2% forecast. Bitcoin initially fell to $73,400 in the first five minutes after that release before later moving lower.
The afternoon Bitcoin low was about 1% below the $73,400 level reached immediately after the CPI release, extending that earlier decline.
Investment-fund demand had also softened. US spot Bitcoin ETFs recorded $201.08 million in net outflows on November 9, while Ether funds lost $184.51 million, according to SoSoValue figures in our ETF flow coverage.
Those withdrawals describe the previous trading session. Together with the inflation surprise, they provide context for Tuesday’s pressure without establishing a single cause for every move in the afternoon selloff.
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