Bitcoin Drops Below $69,000: Five Pressures Explained and Ma
On November 13, 2026, Bitcoin fell below $69,000 for the first time since mid-August, dropping back to its 200-week moving average. BeInCrypto said five pressures converged in the same week, the first of which was the Fed rate hike, with leverage amplifying the decline; on the same day, Odaily cited Bitcoin News as saying that Deutsche Bank had opened Bitcoin custody to paying EU institutional clients, launching it during a period of ETF investor outflows.
Event Timeline
- [11-13 09:04] Why Is Bitcoin Crashing? 5 Pressures That Pushed BTC Below $69,000 (BeInCrypto)
- [11-13 16:32] Deutsche Bank opens Bitcoin custody service to paying institutional clients (Odaily 星球日报)
Background and Impact
On November 13, 2026, BeInCrypto reported that Bitcoin's price fell below $69,000 for the first time since mid-August, dropping back to around the 200-week moving average, a line that had supported Bitcoin's summer recovery. The report noted that the decline came after five pressures emerged in succession within the week, but did not attribute it to a single trigger.
On the composition of the pressures, the first item BeInCrypto explicitly listed was the Fed Rate-Hike. The report said no single trigger could explain the speed of the decline, and leverage's role could not be ignored; if the weekly close lands below that moving average, Bitcoin holders could face a deeper drawdown test. Beyond that, the material did not disclose the specific content of the other four pressures.
On the same day, Odaily 星球日报 cited a post by Bitcoin News on platform X saying that Deutsche Bank had opened Bitcoin custody services to paying institutional clients. The bank currently directly custodies BTC, ETH, USDC, and the euro stablecoins EURC and EURAU, with keys stored in hardware security modules, and clients access the service through the bank's proprietary Autobahn gateway. The service is aimed at EU clients and is provided from Frankfurt; it initially supports custody and transfers, with more features planned later. Bitcoin News also said the service was launched during a period of ETF investor outflows.
The two reports came at similar times but focused on different things: one focused on the downward pressure from leverage and rate hikes, the other recorded the advance of institutional custody infrastructure, and the two do not constitute mutual refutation of the same fact. The phrase in the Odaily material that the service was "launched during a period of ETF investor outflows" means that fund outflows and the expansion of institutional custody occurred in the same time window. Whether the price will stabilize above the 200-week moving average and which features Deutsche Bank's custody service will add later must be judged by subsequent disclosures. During this round of volatility, searches around platform entry points such as Bitget registration APP download, Binance registration APP download, Gate.io registration APP download, OKX registration APP download, and HTX registration APP download also appeared frequently; this is trading entry-point information and is unrelated to the above price moves and custody facts.
FAQ
### What was the main reason Bitcoin fell below $69,000 this time?
BeInCrypto said no single trigger could explain the speed of the decline; rather, five pressures stacked up in the same week, the first of which was the Fed rate hike; leverage amplified the drop, and if the weekly close falls below the 200-week moving average, a deeper drawdown test may follow.
### Why is the 200-week moving average watched by the market?
The line had supported Bitcoin's summer recovery. This time the price fell back to near that line, and the report considers the key to be whether the weekly close can hold above it; if it closes below, Bitcoin holders could face a larger drawdown.
### Which assets does Deutsche Bank's Bitcoin custody service cover, and will it expand later?
It currently directly custodies BTC, ETH, USDC and the euro stablecoins EURC and EURAU, with keys stored in hardware security modules and clients accessing via its proprietary Autobahn gateway; the service is aimed at EU clients and provided from Frankfurt, initially supporting custody and transfers, with more features planned later.