Bitcoin Slides 14% Weekly to $65,000 as Weekend Sell‑off Undermines Friday’s Low

Bitcoin fell roughly 14% over the past week, trading near $65,200 on Saturday after slipping to about $65,000, according to Bitcoin Magazine Pro data. The decline breached Friday’s low of approximately $67,555, marking the lowest point since mid‑August, as weekend trading continued the sell‑off driven by a stronger dollar and expectations of a fully priced December Federal Reserve rate hike.

A week earlier, on November 7, Bitcoin traded near $75,750. The downward pressure intensified after Nvidia CEO Jensen Huang stepped down on Thursday, prompting a sell‑off in AI‑related stocks that may have contributed to Bitcoin’s drop below $72,000. By Thursday evening it fell toward $71,000, and around midnight Eastern on Friday it hit roughly $67,555—the lowest level since August—before rebounding to about $69,800 in the morning.

After the producer‑price report softened, Bitcoin briefly rose above $70,000 before settling back below that level, hovering around $68,900 for the remainder of Friday afternoon.

Selling resumed Friday evening, pushing Bitcoin into the mid‑$66,000 range. It steadied overnight near $67,000 before declining again after 8 a.m. ET on Saturday, touching a low of $65,500 around 10 a.m. and erasing Friday’s low.

A stronger dollar and rising yields continue to pressure Bitcoin

The Labor Department reported that the Producer Price Index for final demand increased 0.3% in October, below the 0.4% rise economists anticipated. On an unadjusted basis, the index was up 6.5% year‑over‑year, the biggest 12‑month increase since November 2022. This modest monthly gain briefly lifted Bitcoin above $70,000.

Bond traders remained skeptical. The 10‑year Treasury yield rose to 5.17% on Friday, its highest level in four weeks, and settled at 5.15%. The U.S. dollar index stayed near a 19‑month high, its strongest point since April 2025. Boston Fed President Susan Collins noted that “further tightening of monetary policy may soon be appropriate,” while San Francisco Fed President Mary Daly indicated that “raising rates is likely.” Higher rates increase the cost of holding non‑yielding assets, and a stronger dollar has weighed on Bitcoin throughout November. Market participants fully priced a 25‑basis‑point hike at the Fed’s December 8‑9 meeting, according to CME FedWatch.

Chip stocks provided no relief. The iShares Semiconductor ETF fell over 3% on Friday, and Advanced Micro Devices declined more than 8%. The Nasdaq 100 slipped 1.22%. U.S. stock and bond markets remain closed on Saturday, yet those levels continue to shape the weekend session. Nvidia will announce its third‑quarter results on Tuesday, marking the first earnings release under interim CEO Colette Kress since Huang’s departure.

Spot‑Bitcoin ETF Outflows Persist as Mining Difficulty Declines

Spot‑Bitcoin ETF demand has failed to offset the outflows. BlackRock’s iShares Bitcoin Trust (IBIT) saw $2 billion in withdrawals over nine consecutive days through Wednesday, and recorded a sixth straight day of net outflows on Thursday. Thinner weekend trading heightens Bitcoin’s vulnerability to sudden price swings.

Miners received some relief overnight. Bitcoin’s mining difficulty fell 9.13% at 12:02 a.m. ET on Saturday, block 975,744, dropping from roughly 148.36 trillion to 134.82 trillion—the biggest decline since June. Difficulty automatically adjusts every 2,016 blocks to maintain average block times near 10 minutes.

Bitcoin’s price faces immediate tests. Traders will monitor whether Saturday’s decline remains below Friday’s $67,555 low and whether Nvidia’s Tuesday report continues the chip‑stock weakness that has trailed Bitcoin all week. With a December rate hike fully priced and the dollar at a 19‑month high, any additional rise in yields when markets reopen could sustain downward pressure.

At the time of writing, Bitcoin trades near $65,100.

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