BREAKING: $BTC Breaks Below 200-Week Moving Average Near $67,750–$68,000 Amid ETF Outflows and $1.2B+...

$BTC has broken below its closely watched 200-week simple moving average—situated near $67,750 to $68,000—sliding to an intraday low of $65,020 on Nov. 14, its weakest level since Aug. 19. The pullback leaves $BTC down roughly 12% over the past week, more than 23% year-to-date, and nearly 48% below its October 2025 record high of $126,080, while trading beneath its 50-day (~$80,500) and 200-day (~$73,000) moving averages.
The breakdown follows a convergence of macroeconomic and liquidity headwinds. Hotter-than-expected October U.S. producer inflation—which rose 6.5% year-over-year—pushed Treasury yields and the U.S. dollar higher while reinforcing expectations for further Federal Reserve rate hikes. At the same time, U.S. spot Bitcoin exchange-traded funds recorded a seventh consecutive day of net outflows, Glassnode data showed a $14.2 billion contraction in major stablecoin supply over the 30 days through Nov. 9, and CoinGlass tracked more than $1.2 billion in leveraged crypto liquidations over 24 hours.
Market sentiment has deteriorated sharply, with the Crypto Fear & Greed Index dropping to 13 in extreme fear territory. Traders are watching whether $BTC can reclaim the ~$67,750–$68,000 level before Sunday’s weekly candle close to avoid confirming a structural breakdown, with technical analysts flagging the summer low near $57,700 as the next major downside support if selling persists.