Bitcoin Price: New Bearish SK Signal at $68,700
Bitcoin falls to $68,700 with over $1.6 billion in liquidations. Trading Edge Pro flags a new bearish 4h setup. Analysis and momentum.
Bitcoin Price: New SK Signal Meets a Wave of Liquidations
The Key Points
- Bitcoin (BTC) falls to $68,718, with an intraday low near $67,800.
- Our Trading Edge Pro indicator flags a new bearish setup on the 4h timeframe.
- Rate fears, a strong dollar and $1.64 billion in liquidations weigh on the market.
Two things coincide on Friday: a price of $68,718, about seven percent below its level 24 hours ago, and a fresh signal from Trading Edge Pro (SK). On Thursday evening the indicator detected a new setup on the 4h timeframe, in bearish direction.
What the Signal Means
Trading Edge Pro (SK) is our indicator that evaluates price structure across several timeframes. A setup on the 4h timeframe means the market structure there has realigned in the stated direction, here bearish. It is an assessment of the current state, not a forecast. How the indicator works is explained in the Trading Edge Pro methodology.
What momentum says
Momentum signals a mixed picture. On the 1h timeframe it is neutral, on the 4h timeframe bearish and on the 1D timeframe also bearish. Only the 1W timeframe remains bullish. In the short and medium term the direction points down, while the broader weekly view is still intact. The methodology is described under Momentum.
The Bigger Picture
The higher timeframe remains in a downtrend. The daily close also sits 5.6 percent below the EMA 200, the 200-day moving average. Trading below this line is seen by many market participants as a sign of weakness.
Seasonality offers some relief for the bulls: over the past nine years, Bitcoin averaged plus 5.13 percent in November, and the month closed positive in four of nine years. That is a historical statistic, not a promise for this year.
Leverage, Dollar and Tech Weakness: Why Bitcoin Is Falling
The starting point was inflation. The October data came in hotter than expected, and the market is now bracing for a Fed rate hike in December. CoinDesk puts the probability of 25 basis points at 88 percent, based on CME data. The dollar rose in parallel: the dollar index is above 103, its highest since April 2025. A stronger dollar and higher rates traditionally drain capital from risk assets.
The stock market amplified this. Nvidia CEO Jensen Huang is stepping down, the shares slipped, and because Bitcoin has recently moved closely with tech stocks, the selling pressure spilled into crypto.
The real blow came from derivatives. Positions worth $1.64 billion were wiped out within a day, almost 89 percent of them bets on rising prices. Bitcoin alone accounted for $916 million. HashKey's Tim Sun tells Decrypt that exactly these forced sales directly triggered the drop below $69,000.
Weak Demand: Who Is Buying Now?
Buyers are thin on the ground. US spot Bitcoin ETFs report their sixth consecutive day of outflows, $47.7 million on Thursday. Decrypt adds that the stablecoin supply is also shrinking. On top of that, MSCI is removing Strategy from its indexes on November 30.
Sentiment reflects this. The Fear and Greed Index drops to 19, meaning extreme fear. The next key date is the Fed meeting on December 8 and 9; until then, inflation data and the dollar set the direction.
Entry levels, stops and target zones of the SK setup, as well as the momentum values of all timeframes, are available to Pro members at /preise. Not investment advice.