On November 14, Bitcoin price dropped below $97,000, amidst high market volatilty. The general crypto market is down by over 6% in the past 24 hours, with a market cap of $3,29 billion.
Bitcoin's price decline was fueled by multiple factors, including high crypto liquidations and a significant amount of outflows from the US-based BTC ETFs.
Bitcoin Price Trajectory
At the moment of writing this article, BTC is trading above $96,000, down by over 6.5% in the past 24 hours.
BTC price declined from $103,000 levels on November 13. The digital asset's price drop came ahead of today's crypto options expiry on Deribit, and it was fueled by several triggers.
Crypto Options Expiry
On November 14, $4,68 billion in BTC and ETH options expired. 41,000 BTC options worth $3,95 billion expired with a Put/Call Ratio of 0.61 and a Max Pain Point of $105,000.
Also, 228,000 ETH options worth $730 million expired with a Put/Call Ratio of 0.59 and a Max Pain Point of $3,475, GreeksLive data shows.
$1.1 Billion 24-Hour Crypto Liquidations
The crypto market saw $1.1 billion in 24-hour crypto liquidations, over $969 million in long positions, and more than $128 million in shorts, according to CoinGlass data.
More than 245,700 traders were liquidated in the past 24 hours, and the largest liquidation was on HTX (BTC-USDT value almost $44,3 million).
Hyperliquid recorded the highest liquidations, above $291 million, followed by Bybit with over $289 million and Binance with more than $214 million, CoinGlass data shows.
BTC ETF High Outflows on November 13
It's also worth noting that the US-based BTC ETFs recorded significant outflows on November 13 - almost $870 million, marking the largest outflow day in November and the second largest in history.
Grayscale's BTC ETF, BTC saw the biggest outflows above $318 million, followed by BlackRock's IBIT above $256 million, SoSoValue data shows.
So far, November is the month with the highest outflows in 2025 since February when BTC ETFs saw total outflows of over $3,5 billion.
US Interest Rate Cut Changes Dropped
Also, CME Group data shows that the chances for an upcoming interest rate cut in December have dropped to 52.1%, compared to over 65% in the past days.
However, despite the recent market volatilty, there are still plenty of reasons to remain optimistic regarding Bitcoin amidst growing global adoption and clearer crypto regulations that could attract more capital in the industry.
