$BTC slid to its lowest level since August on Thursday, trading as low as $71,113 on Binance. At 07:17 ICT on Nov 13 it sits at $71,349, down 3.6% in 24h, on about $1.11B of spot volume (30-day average ~$1.15B).

Why it is falling

1. ETF money is leaving. U.S. spot Bitcoin ETFs posted $299.9M of net outflows on Nov 11, the fifth straight session of redemptions. The streak has drained about $1.44B since Nov 5, with IBIT taking most of Wednesday's hit.

2. The Nvidia shock. Jensen Huang resigned as Nvidia CEO, president and director, effective immediately. Tech and anything priced off AI risk sold off, and BTC broke $72K within the first hour of the U.S. session.

3. Rates. October CPI came in hot, and markets now worry about a December hike. The October PPI print tonight (8:30 ET / 20:30 ICT) is the next test.

4. Forced selling. More than $750M of crypto positions were liquidated in 24h, over $634M of them longs (CoinGlass via The Block). Wintermute said it sees "no convincing signs of size stepping in" and that majors need ETF flows to carry them.

5. A slow-burn overhang: MSCI confirmed Strategy leaves its indexes after the Nov 30 close.

The chart

1D: Wilder RSI(14) 29.3, oversold. Price is below EMA20 ($76,340) and EMA50 ($78,327). Broken support $72,727–73,209 (Nov 10–11 lows) is now resistance.

4H: RSI 25.4, below EMA20 ($73,339) and EMA50 ($74,845). Trend is clearly down.

The next real level below is the Aug 19–20 breakout base: $68,902–70,000. That is where buyers last stepped in with size.

My plan (small size, counter-trend)

Bid: $69,000–70,000

SL: $67,800

TP1 $72,700 (1.9R), TP2 $74,200 (2.8R), TP3 $75,400 (3.5R)

No trade on a daily close under $68,900. Then the next demand is $64,000–65,000 (mid-August range).

A 4H close back above $73,209 would be the first sign sellers are tired.

What would change my mind: ETF flows turning positive for several days, or a soft PPI tonight.

Not financial advice. DYOR.

Where do you think this leg ends: $70K, $65K, or already done?