Bitcoin price has fallen nearly $8,000 in a week, dropping from above $81,000 to below $73,000 as shrinking stablecoin liquidity, leveraged trading losses and concerns about major stock market listings add pressure to the cryptocurrency.<\/p>\n
\n Summary<\/span>\n <\/p>\n <\/p>\n According to crypto.news market data<\/a>, Bitcoin price traded near $73,600 at the time of reporting, after briefly falling to approximately $72,700 on Tuesday. The latest decline followed weeks of selling, with investors withdrawing money from Bitcoin exchange-traded funds and reassessing the Federal Reserve\u2019s interest rate outlook.<\/p>\n US spot Bitcoin ETFs recorded approximately $1.28 billion in net outflows during November\u2019s first trading week, while hotter-than-expected US inflation figures added to concerns about borrowing costs.<\/p>\n The selling continued on November 10, with US spot Bitcoin ETFs recording $95 million in net outflows, marking the fourth consecutive trading day of withdrawals, according<\/a> to SoSoValue. BlackRock\u2019s IBIT accounted for $78 million of the withdrawals, marking its eighth consecutive trading session of outflows.<\/p>\n <\/p>\n One of the less visible developments has been a decline in the supply of Tether\u2019s USDT, the largest stablecoin by market capitalization.<\/p>\n In its November 10 research, CryptoQuant reported<\/a> that USDT\u2019s market capitalization had fallen by approximately $6.6 billion over 60 days.<\/p>\n The research firm described the contraction as the largest recorded since its data series began in mid-2022, exceeding the decline recorded following FTX\u2019s collapse in December that year.<\/p>\n Stablecoins are widely used to fund cryptocurrency purchases, settle transactions and transfer money between trading platforms.<\/p>\n CryptoQuant explained that a falling stablecoin supply reduces the amount of readily available capital within the cryptocurrency market.<\/p>\n The report found that Bitcoin\u2019s apparent demand had contracted by approximately 284,000 BTC over 30 days, its fastest decline since March 2025.<\/p>\n US buying activity remained weak, with the Coinbase Premium Index recording negative readings for 30 consecutive days.<\/p>\n Previously, crypto.news reported declining stablecoin liquidity<\/a> alongside sustained Bitcoin ETF withdrawals and limited buying demand.<\/p>\n CryptoQuant\u2019s Bull Score Index had fallen to 20 from 90 on October 13, indicating that several indicators tracked by the firm had deteriorated over the preceding month.<\/p>\n The second factor concerns the number of traders holding leveraged positions that depend on Bitcoin prices rising.<\/p>\n Crypto analyst Joao Wedson identified a large imbalance between long and short positions using his firm\u2019s liquidation exposure metric.<\/p>\n In a Tuesday post on X, Wedson reported approximately $579 million in leveraged long positions exposed to liquidation, compared with $147 million in short positions, within a 10% price movement.<\/p>\n \u201cBitcoin and the entire crypto market are falling because there are too many Longs in the market!\u201d he wrote.<\/p>\n<\/blockquote>\n Wedson argued that the imbalance could make downward price movements more damaging because leveraged long positions face forced closures as Bitcoin falls.<\/p>\n Bitcoin and the entire crypto market are falling because there are too many Longs in the market!<\/p>\n Here\u2019s an example of an interesting metric we developed: Long & Short Liquidation Exposure Within \u00b110%.<\/p>\n There are $579M in Longs and $147M in Shorts at risk of liquidation if\u2026 pic.twitter.com\/P78QstN45Z<\/a><\/p>\n \u2014 Joao Wedson (@joao_wedson) November 10, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n His figures represented estimated liquidation exposure, not positions that had already been liquidated.<\/p>\n Notably, CoinGlass data showed cryptocurrency futures liquidations climbing<\/a> to nearly $725 million over 24 hours following Tuesday\u2019s US inflation report.<\/p>\n Bitcoin accounted for around $200.5 million of those liquidations, with long positions representing approximately 85%.<\/p>\n Meanwhile, cryptocurrency futures open interest fell approximately 1% to $127.2 billion, while trading volume rose 24% to $204.8 billion.<\/p>\n Bitcoin funding rates remained positive at approximately 0.0078%, indicating that traders holding long positions continued paying those holding shorts.<\/p>\n The recent liquidation activity followed another wave of selling that pushed Bitcoin price below $75,000<\/a> as institutional withdrawals continued.<\/p>\n Another theory gaining attention concerns large initial public offerings attracting investment capital that might otherwise remain in cryptocurrency markets.<\/p>\n Crypto analyst Crypto Rover compared Bitcoin\u2019s latest decline with the correction preceding SpaceX\u2019s June 2026 stock market debut.<\/p>\n In a November 10 post, Rover said Bitcoin fell nearly 29% before the SpaceX listing, while the cryptocurrency had declined approximately 16% ahead of Anthropic\u2019s planned IPO.<\/p>\n \u201cThat\u2019s TWO major IPO events coinciding with massive Bitcoin corrections,\u201d he wrote.<\/p>\n<\/blockquote>\n Rover suggested that major public offerings could attract capital from other financial markets, including Bitcoin.<\/p>\n \ud83d\udea8 BITCOIN IS CRASHING AHEAD OF ANOTHER MAJOR IPO.<\/p>\n And the similarities are INSANE.<\/p>\n Leading up to the SpaceX IPO, Bitcoin crashed nearly 29%.<\/p>\n Now, with the Anthropic IPO approaching, Bitcoin has already plunged almost 16%.<\/p>\n That\u2019s TWO major IPO events coinciding with massive\u2026 pic.twitter.com\/TuHHXwscpY<\/a><\/p>\n \u2014 Crypto Rover (@cryptorover) November 10, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n Anthropic\u2019s latest SEC filing<\/a> proposes selling 825 million Class A shares at $70 to $78 each.<\/p>\n The artificial intelligence company could raise approximately $64.4 billion at the top of that range, with Nasdaq trading expected to begin around November 19.<\/p>\n BitMEX co-founder Arthur Hayes previously warned about AI listings<\/a>, arguing that heavy share issuance and potential selling could affect financial conditions and demand for Bitcoin.<\/p>\n The IPO comparison remains an analyst theory. The timing of the SpaceX and Anthropic offerings does not establish that either transaction caused Bitcoin\u2019s decline.<\/p>\n Meanwhile, the broader altcoin market remained mixed, with most major cryptocurrencies trading lower. Ethereum held above the $2,000 support level despite falling 1.6% to around $2,055, while XRP declined to $1.06 and BNB traded near $680. Solana, Dogecoin, Hyperliquid, Uniswap, Quant and RAIN recorded losses.\u00a0<\/p>\n Zcash was the worst performer, dropping 13% and trading below $1,000. Its privacy-focused rival Monero gained 5.6% to trade above $575. Meanwhile, BTW rose 10% to $1.08, while Avalanche gained 4% to approximately $8.70.<\/p>\n Moreover, CoinMarketCap\u2019s Altcoin Season Index stood<\/a> at 43, down from 49 the previous Thursday, as Bitcoin\u2019s market dominance climbed to 60.5%. The Crypto Fear and Greed Index remained at 26, indicating continued caution among investors.<\/p>\n \n Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. <\/p>\n<\/p><\/div>\n <\/p>\n <\/p><\/div>\n\n
Bitcoin price falls as USDT supply shrinks by $6.6 billion<\/strong><\/h2>\n
Leveraged Bitcoin longs<\/strong><\/h2>\n
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Anthropic IPO<\/strong><\/h2>\n
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