Bitcoin falls NEAR $64,000 as drawdown from peak exceeds 24%
The drop below $72,000 on 12 November deepened selling across exchanges, following a record high of $77,000 set earlier in the month.
Key takeaways
- 1Bitcoin traded near $64,000 after falling more than 24 percent from its peak.
- 2The price decline accelerated following a break below $72,000 on 12 November.
Bitcoin traded near $64,000 as a market sell-off pushed the total drawdown from its peak above 24 percent. The retreat in price intensified after the asset broke under the $72,000 price mark on 12 November, leading to broader market weakness across major digital asset exchanges.
In evaluating current market structure, some market commentators have introduced comparisons to a potential SpaceX initial public offering to outline a bullish case for future valuation. That narrative presents a positive long-term framework for digital assets, but it does not supply concrete proof that the ongoing liquidations and spot selling are near an end.
Bitcoin is the largest digital asset by market value and serves as the primary benchmark for the broader cryptocurrency market. The current market pullback comes shortly after a strong rally pushed Bitcoin to a record high of $77,000 on 5 November 2026, marking a swift reversal over a short period.
The sustained price decline shows the impact of shifting liquidity and margin liquidations on trading platforms globally. Market participants will now watch order book depth and spot trading volumes in upcoming trading sessions to evaluate whether buyers step in near the $64,000 level or if downward pressure persists.
Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.