Weekly Crypto Market Report: Week 46 Week ending Friday, November 13, 2026 Data through late Thursday, November 12 Bitcoin's price fell below its 200-day simple moving average near $73,200 this weekWeekly Crypto Market Report: Week 46 Week ending Friday, November 13, 2026 Data through late Thursday, November 12 Bitcoin's price fell below its 200-day simple moving average near $73,200 this week
Learn/Daily & Weekly Reports/Alpha Trader Weekly/Why Is Bitcoin Down? BTC Slides to $71K Ahead of Anthropic's $60B+ IPO | Weekly Crypto Report
Why Is Bitcoin Down? BTC Slides to $71K Ahead of Anthropic's $60B+ IPO | Weekly Crypto Report
Weekly Crypto Market Report: Week 46
Week ending Friday, November 13, 2026
Data through late Thursday, November 12
Bitcoin's price fell below its 200-day simple moving average near $73,200 this week after October's consumer price report came in hotter than forecast and pushed futures traders to bet that the Federal Reserve could raise rates by half a point in December. The price held that line through Wednesday, then dropped below $72,000 on Thursday, November 12, to about $71,200, its lowest level since August, and traded near $71,500 late in the day, down about 5.6% from the previous Friday's close. MSCI confirmed on November 11 that Strategy, the largest corporate holder of Bitcoin, will leave its U.S. indexes at the close on November 30, and Nvidia's chief executive Jensen Huang resigned on November 12, adding a shock to the AI stocks that have moved with crypto all autumn. The biggest crypto news this week came from the Wall Street building on blockchains: the New York Stock Exchange chose Avalanche for its planned tokenized securities venue, DTCC said it will bring tokenized securities to Solana in 2027, and Coinbase announced final approval for a national trust bank charter. Crypto exchanges also opened trading on Anthropic's IPO before the shares reached Nasdaq, and pre-IPO futures priced the AI company above its $70 to $78 range.
Key Takeaways
- Inflation reset the Fed outlook. October CPI rose 0.4% from September against a 0.3% forecast, core prices rose 0.3%, and Fed Governor Christopher Waller said that after a 0.3% core reading, a quarter-point hike in December could put the Fed's credibility at risk.
- Bitcoin lost its 200-day line. The price held the 200-day SMA near $73,200 through Wednesday, then fell to about $71,200 on Thursday as about $717 million of leveraged positions were liquidated, while spot Bitcoin ETFs lost about $596 million in the first three sessions of the week.
- Strategy's index exit is now official. MSCI will remove Strategy from the MSCI USA Index on November 30, and funds tracking MSCI held about 13 million Strategy shares, or 3.1% of basic shares, according to the company.
- Wall Street kept building on-chain. NYSE chose Avalanche for its planned tokenized securities venue, DTCC added Solana to its tokenization service, PNC began accepting USDC payments for corporate clients through Coinbase, and a group of global banks committed about $270 million to a joint stablecoin.
- Anthropic's IPO is trading on crypto venues first. Anthropic set a $70 to $78 range for its Nasdaq listing under the ticker ANT, and pre-IPO perpetual futures on crypto venues traded about 23% above the top of that range.
Market Scoreboard
Bitcoin's share of the crypto market rose to 60.5% as Ether fell to its weakest level against Bitcoin since July, which shows money leaving the riskier end of the market first.
Asset or indicator | Level (Nov 12) | Week so far and context |
Bitcoin (BTC) | About $71,500 | Down about 5.6% from the Nov 6 close; low about $71,200 on Nov 12 |
Ether (ETH) | About $2,015 | Dipped below $2,000 for the first time since August |
Bitcoin dominance | 60.5% | Up from 59.8% at the end of October |
Spot Bitcoin ETFs | Outflows of $596 million | Nov 9 to 11; five straight outflow days through Wednesday |
Spot Ether ETFs | Outflows of $524 million | Five sessions from Nov 5 to 11 |
Crypto Fear & Greed Index | 23 (Extreme Fear) | Down from 36 at the end of October |
October CPI | +0.4% month on month | Core +0.3%; both above forecasts |
December Fed odds | 89% for 25 bp, 11% for 50 bp | CME FedWatch after CPI; no chance of a hold priced |
10-year Treasury yield | About 5.01% | U.S. dollar index at a 19-month high |
Brent crude | $91.49 on Nov 10 | Lowest settle since August on Iran talks |
Strategy (MSTR) | $122.35 on Nov 11 | Index exit confirmed for Nov 30 |
Nvidia (NVDA) | About $166 | Down about 4% on Nov 12 after the CEO resigned |
Bitcoin prices are Coinbase daily data from Twelve Data; ETF flows are SoSoValue data compiled by TFTC and Farside; Dominance and yield readings are from a Thursday morning market report of November 12, and late-Thursday prices, liquidations and the Fear & Greed reading are from CoinMarketCap and CoinGlass data.
Crypto liquidations in the 24 hours to November 12, 2026, by asset · CoinGlass
Main Event: Fed Rate Hike Odds Jump After a Hot CPI Report
The Bureau of Labor Statistics reported on November 10 that consumer prices rose 0.4% in October after a 0.6% rise in September, above the 0.3% economists expected, and that core prices excluding food and energy rose 0.3% against a 0.2% forecast. Energy prices rose 0.7% and shelter 0.3%. The agency did not publish a year-on-year rate this month because it collected no data in October 2025 during the government shutdown, which left the monthly numbers as the only read on whether inflation is cooling, and they showed it is not.
Fed Governor Christopher Waller made the market's worry explicit the same day. Speaking in London, he said he would support a quarter-point hike at the December 8–9 meeting, that core inflation of 0.3% or more in a month would justify considering a half-point move, and that "hiking only 25 basis points would put our credibility at risk." October's core reading met his threshold exactly. CME FedWatch moved to price a hike in December with certainty, with 89% on a quarter point and 11% on a half point, after the Fed raised rates in September and held them at 3.75%–4.00% in October.
October CPI vs. forecast and December Fed odds after the release · BLS, CME FedWatch
Bitcoin fell below $74,000 within hours of the release and touched $72,640 on November 10, about $500 below the 200-day SMA, before buyers pushed it back to close at $73,700. The line held for two more days and gave way on Thursday, when Bitcoin fell to about $71,200 and about $717 million of leveraged positions were liquidated in 24 hours, nearly 90% of them longs, according to CoinGlass. Ether fell 3.7% to about $2,042 that day and Solana dropped below $83. The 10-year Treasury yield rose to about 5.01% and the dollar index reached a 19-month high by Thursday, the combination that has weighed on Bitcoin since September because it raises the return investors give up by holding an asset with no yield.
Spillover: The Strategy MSCI Decision and Nvidia's CEO Shock
MSCI published its November index review on November 11 and confirmed that Strategy will leave the MSCI USA Index at the close on November 30, the first deletions under the non-operating company screen MSCI adopted on October 15. Strategy is the only one of the 24 companies leaving the MSCI USA Index that exits MSCI's U.S. indexes entirely, Metaplanet leaves the MSCI Japan Small Cap Index on the same date, and 19 more securities sit on a watchlist. Strategy has said the forced selling will be limited and put MSCI-tracking funds' holdings at about 13 million shares, or 3.1% of its basic shares, while analysts' estimates of the selling range from about $1.6 billion to $2.8 billion. Strategy's shares closed at $122.35 on November 11.
The index exit does not require Strategy to sell any of its 850,364 BTC. The risk for Bitcoin is indirect: Strategy funds its purchases by selling new shares, so a lower share price and weaker index demand leave it with less money to buy, at a time when its average cost of $75,456 sits about $4,000 above the market price.
Technology stocks added a second shock. Nvidia announced on November 12 that Jensen Huang had resigned as chief executive, president and board member after 33 years, following reports of relationships with a senior executive and with a former executive of a Singapore company alleged to work for Chinese intelligence. Chief Financial Officer Colette Kress became interim CEO, and the board said it had no reason to believe national security was compromised. Nvidia's shares traded about 4% lower on the day, and liquidations of tokenized Nvidia positions on crypto venues passed $50 million. Bitcoin has moved with AI and chip stocks through the autumn sell-off, so a leadership crisis at the largest company in that trade adds to the pressure on risk assets heading into the Fed minutes.
Tokenized Stocks: NYSE Picks Avalanche and DTCC Adds Solana
The infrastructure news this week ran in the opposite direction to prices. On November 9, NYSE said it had selected Avalanche for clearing and settlement on its planned tokenized securities platform, built for around-the-clock trading and targeted for launch in the fourth quarter subject to regulatory approval. On November 12, DTCC, which settled almost all U.S. stock trades, said it will connect its tokenization service to Solana in the second half of 2027, adding to the Stellar integration it announced in May. Tokenized stocks reached about $4.6 billion in market value, according to Securitize's third-quarter presentation.
Banks moved on stablecoins and custody at the same time. Coinbase said on November 9 that the Office of the Comptroller of the Currency had given final approval to Coinbase National Trust Company, joining Circle, Ripple and others with federal trust charters that let them hold customers' crypto under a single federal regulator. PNC began a pilot that lets corporate clients receive payments in USDC, converted one-to-one into dollars in their PNC accounts using Coinbase's payment software. Bloomberg reported on November 10 that Goldman Sachs, Citigroup, Santander and Deutsche Bank are among banks committing about $270 million to fund five years of operations for a joint dollar stablecoin, codenamed Project Faro, targeted for the first half of 2027.
In Washington, the SEC reportedly filed a brief backing the CFTC in a lawsuit over perpetual futures on individual U.S. stocks, which Coinbase, Kalshi and Kraken's parent Payward were cleared to list on November 2. A trade group whose members include Cboe and Citadel Securities sued to block the products, arguing they belong under the SEC. None of these developments moved prices this week, but together they show the regulated plumbing for crypto and tokenized assets growing while short-term flows follow interest rates.
Anthropic IPO: Crypto Traders Priced ANT Before Wall Street
Anthropic, the AI company behind Claude, filed its second amended S-1 on November 10 and set a price range of $70 to $78 for 825 million Class A shares, to be listed on the Nasdaq under the ticker ANT. CNBC reported that the shares are expected to price on November 18 and start trading on November 19. At the top of the range the offering would raise about $64 billion before fees and value the company at about $1 trillion on its basic share count, or $1.3 trillion to $1.4 trillion fully diluted, and the filing puts Anthropic's annualized revenue run rate at about $81 billion as of October 31.
Crypto markets started trading the listing weeks before Wall Street can. Pre-IPO perpetual futures on Hyperliquid-based venues and OKX held more than $260 million in open interest by November 10, according to Coin Metrics, and TradeXYZ's contract traded near $97 a share, about 23% above the top of the IPO range. MEXC, BingX and BTCC all launched Anthropic pre-IPO products or campaigns this week. These contracts track the expected share price without giving holders ownership of any stock, settle against the price once ANT trades, and carry the added risk of leverage and thin liquidity before the listing.
The listing lands in the same week as the Fed minutes, and a raise of this size could draw on the same pool of risk capital that has been leaving Bitcoin ETFs this month. It also shows crypto exchanges turning into venues for price discovery before a major stock market debut, the same direction NYSE and DTCC are taking with tokenized shares.
Macro and Cross-Asset
Oil offered the only relief on inflation this week. Brent crude settled at $91.49 on November 10, its lowest close since August, after President Trump said the war with Iran could end "fairly soon," down from $98.32 the previous Friday, although Tehran has not confirmed formal negotiations. Lower energy prices would ease the pressure on November and December inflation data, but the market treated October's core reading as the more important signal. Gold slipped back below $4,000, and stock indexes swung between Wednesday's rally, when the Nasdaq rose 1.6% and CoreWeave jumped about 25% after its results, and Thursday's Nvidia sell-off. October producer prices are due on Friday, November 13, after this report's data cutoff.
Flows: Spot Bitcoin ETF Outflows Reach a Fifth Straight Day
U.S. spot Bitcoin ETFs lost $201.1 million on November 9, $95.0 million on November 10 and $299.8 million on November 11, according to SoSoValue data, extending their run of outflows to five sessions and about $1.44 billion. BlackRock's IBIT accounted for $213.2 million of Monday's outflow and $78.2 million of Tuesday's. Spot Ether ETFs lost $523.9 million over the five sessions to November 11, as Ether's price against Bitcoin fell to its lowest since July. November's net flows for Bitcoin funds reached about $1.6 billion of outflows by November 10, after a $515 million outflow in October. Positioning made the break worse. Accounts on major exchanges held about three longs for every short on Thursday morning, and when support gave way, long positions made up nearly 90% of the $717 million liquidated over 24 hours. The Fear & Greed Index fell to 23.
Trading Key: Bitcoin Price Prediction and the Levels to Watch Next Week
Bitcoin is now trading below its 200-day SMA near $73,200 and below the November 10 low of $72,640, so both levels have turned into resistance. The next support is $70,000, where put options were the most actively traded contracts last week, followed by the $69,000 area near the 2021 cycle high. A recovery needs a daily close back above $73,200 first, then the zone between Strategy's average cost of $75,456 and the short-term holder cost basis near $75,800, followed by the 100-day SMA near $77,400.
Bull case. PPI on Friday comes in soft, ETF outflows stop and Bitcoin closes back above the 200-day SMA near $73,200, which would turn this week's drop into a false break and put $75,800 back in play before the Fed minutes on November 18.
Bear case. A daily close below $72,640 confirms the break of the 200-day SMA and exposes $70,000, then $69,000, with any hot reading in PPI or the Fed minutes adding pressure.
Week Ahead
The Fed's minutes, Nvidia's first earnings under its interim CEO, Anthropic's Nasdaq debut and Strategy's final weeks in the MSCI indexes dominate the calendar.
Date | Event | Why it matters |
Nov 15–17 | Solana Breakpoint, London | First big Solana event since the DTCC announcement |
Mon Nov 16 | Strategy's weekly purchase filing | Shows whether Strategy keeps buying after the MSCI decision |
Tue Nov 17 | Bank of Russia rules for retail crypto trading take effect | Brokers and exchanges can offer BTC, ETH and USDT, with a yearly cap for non-qualified investors |
Tue Nov 17 | Nvidia third-quarter earnings, the first under interim CEO Colette Kress | First test of the AI trade after Jensen Huang's exit; tokenized Nvidia positions on crypto venues were liquidated this week |
Wed Nov 18 | FOMC minutes from the October 27–28 meeting; Anthropic IPO expected to price | Shows how many officials share Waller's case for a bigger hike; ANT is expected to start trading on the Nasdaq on Nov 19 |
Wed Nov 25 | October PCE inflation | The Fed's preferred inflation gauge before December 9 |
Mon Nov 30 | Strategy leaves the MSCI USA Index | Index funds must sell their Strategy shares by the close |
Risk Warning
- A half-point Fed hike. If the minutes or PCE data support Waller's view, the 10-year yield could move further above 5% and keep Bitcoin below its 200-day SMA.
- Index selling around Strategy. Passive funds must sell Strategy's shares by November 30, and a falling share price would limit how much new Bitcoin the company can buy.
- AI stock contagion. Nvidia's leadership crisis and its November 17 earnings, the first under an interim CEO, could extend the sell-off in chip stocks, which have traded with Bitcoin through the autumn.
- Crowded long positioning. Long positions made up nearly 90% of Thursday's liquidations and accounts still leaned long, so a move toward $70,000 could set off another round of forced selling.
Analyst's View
This week split the crypto market into two stories. The long-term story improved sharply, as the operators of the U.S. stock market's trading and settlement systems chose public blockchains and large banks committed money to stablecoins and custody. The short-term story got worse, because a hotter inflation report made a December hike certain, the largest corporate Bitcoin buyer lost its place in major indexes and the AI trade lost its best-known leader. Prices follow the short-term story while the Fed is still raising rates, so I expect Bitcoin to stay below its 200-day SMA until either inflation data cools or ETF outflows stop, and I treat $70,000 as the level that decides whether this becomes a deeper correction.
On MEXC This Week
MEXC's Canton 0-Fee Carnival runs until November 30 with a $1 million prize pool and zero trading fees on CC/USDT and CC/USDC spot and CCUSDT futures, and details are on the event page. MEXC's October proof of reserves, audited by Hacken, put its reserve ratios at 294% for BTC, 111% for ETH, 122% for USDT and 115% for USDC, and users can confirm their own balances through a Merkle tree. Traders watching the 200-day line can follow it on BTC/USDT and ETH/USDT Spot.
MEXC has also listed Anthropic Pre-IPO Futures and opened an Anthropic Pre-IPO Launchpad, where users subscribe for mirror credits that settle against ANT's closing price on its first trading day. The credits give economic exposure to the share price without ownership of any stock, are not available in restricted regions, and carry subscription and settlement fees. MEXC's Anthropic Pre-IPO Carnival runs alongside them with a $600,000 prize pool.
FAQ
Why is Bitcoin down this week?
Bitcoin fell because October CPI rose 0.4% against a 0.3% forecast, which made a December Fed rate hike certain in futures markets and raised the chance of a half-point move. Spot Bitcoin ETF outflows, Strategy's removal from MSCI's indexes and Nvidia's CEO resignation added to the pressure, and on Thursday the price fell to about $71,200 as about $717 million of leveraged positions were liquidated.
What is the Strategy MSCI decision, and does it affect Bitcoin?
MSCI confirmed on November 11 that Strategy will leave the MSCI USA Index at the close on November 30. Strategy does not have to sell any Bitcoin, but index funds holding about 13 million of its shares must sell them.
What are the Fed rate hike odds for December 2026?
Futures priced an 89% chance of a quarter-point hike and an 11% chance of a half-point hike after the October CPI report. Fed Governor Christopher Waller said core inflation of 0.3% or more would justify considering a half-point move, and October's core reading was exactly 0.3%.
Will Bitcoin go back up?
A recovery needs a daily close back above the 200-day SMA near $73,200, and then above $75,800, the top of the zone formed by Strategy's average cost and the short-term holder cost basis. Softer inflation data and an end to ETF outflows are the conditions that would support it, while a drop below $70,000 would point to the $69,000 area instead.
What did NYSE and DTCC announce about tokenized stocks?
NYSE selected Avalanche to clear and settle trades on its planned 24/7 tokenized securities platform, and DTCC said it will connect its tokenization service to Solana in the second half of 2027.
When is the Anthropic IPO, and can you trade it on crypto exchanges?
Anthropic's shares are expected to price on November 18 and start trading on the Nasdaq under the ticker ANT on November 19, with a price range of $70 to $78. Until then, crypto exchanges, including MEXC, offer pre-IPO futures and mirror products that track the expected share price without giving ownership of the stock.
Methodology
This report covers the week ending Friday, November 13, 2026. Weekly price changes compare the latest price with the previous Friday's UTC close, and ETF flows cover U.S. trading sessions from Monday to Thursday. Bitcoin prices are Coinbase data from Twelve Data, ETF flows are SoSoValue data as compiled by TFTC and Farside, inflation data is from the Bureau of Labor Statistics, and rate probabilities are from CME FedWatch. Moving averages are simple moving averages of daily closes. Anthropic IPO figures are from its amended S-1 filing of November 10, with the expected pricing and trading dates from CNBC.
Disclaimer: This report is for information only and is not investment advice. Digital assets are volatile, and past performance does not predict future results.
Market Opportunity
Bitcoin Price(BTC)
$68,676.42
$68,676.42$68,676.42
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Bitcoin (BTC) Live Price Chart
This article is provided by MEXC for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets involve significant risk. Please conduct independent research or consult a qualified professional before making any investment decisions. The views expressed do not necessarily represent those of MEXC or its affiliates.
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