Bitcoin below $70K as stocks slip after cooler US PPI
ITF Team2 min read
Bitcoin stayed under $70,000, falling 3.6% to $69,027 on Nov 13, 2026, while the S&P 500 slipped 1.2% following a US PPI that missed forecasts.
Key takeaways
- Bitcoin closed at $69,026.80 on 11/13/2026, down 3.56% on the day.
- The US Producer Price Index rose 6.5% year‑over‑year in October, 0.1 percentage point below expectations.
- S&P 500 was down 1.2% and Nasdaq 1.5% at the time of writing on 11/13/2026.
- CME FedWatch odds of a 25‑bp Fed hike in December rose to 89.7% on 11/13/2026.
Bitcoin failed to break the $70,000 barrier on 13 Nov 2026, trading around $68,700 after a brief dip to $67,500 on Friday. The 4% daily drop came as the US Producer Price Index (PPI) for October printed slightly below forecasts, keeping the market’s focus on inflation and the Federal Reserve’s next policy move.
PPI miss and its impact on crypto and equities
The Bureau of Labor Statistics reported that October’s PPI rose 0.3% month‑over‑month and 6.5% year‑over‑year, a full 0.1 percentage point shy of analysts’ expectations. Although the increase remains the strongest since November 2022, the modest miss tempered optimism about easing inflation pressures. Traders interpreted the data as a signal that the Fed may still need to tighten, prompting a modest rise in the odds of a 25‑basis‑point hike at the December meeting.
Equity markets mirrored the cautious tone. The S&P 500 slipped 1.2% and the Nasdaq Composite fell 1.5% as investors digested both the PPI data and the fallout from Nvidia’s co‑founder Jensen Huang resigning. The lack of a decisive rally left risk assets, including Bitcoin, vulnerable to downward pressure.
Technical outlook for Bitcoin
At $68,700, Bitcoin sits 17.7% lower in the fourth quarter and 11.2% down month‑to‑date, marking its second‑worst quarterly performance on record. Analysts at Rekt Capital warned that a weekly close below $73,000 could trigger the third support break of 2026, a level that has previously preceded moves toward $60,000.
The price is also testing the 200‑week trend line, a long‑term anchor that has guided previous rebounds. Failure to hold above $73,000 would add to bearish momentum, while a bounce back toward $71,000 could signal the start of a short‑term correction.
Read also: Silver deficit and higher yields shape market overview
Fed rate expectations and market sentiment
CME’s FedWatch tool showed the probability of a modest 25‑bp hike in December rising to 89.7% from 85.4% on Thursday, while the chance of a larger 50‑bp move fell to 10.3%. Economist Robin Brooks described a 25‑bp hike as “all but inevitable,” but cautioned that a steeper move would be needed if oil‑price spikes from geopolitical tensions persist.
Higher‑for‑longer rate expectations tend to strengthen the US dollar, which in turn pressures Bitcoin, a dollar‑denominated asset. The combination of a cooler PPI, persistent inflation drivers, and a firm Fed stance kept Bitcoin anchored below $70,000.
What to watch next
Traders should monitor the weekly candle closing below $73,000, a key technical threshold highlighted by Rekt Capital. Additionally, upcoming US CPI data and any further developments in the US‑Iran oil dispute could shift Fed expectations and reignite volatility in both crypto and equity markets.
- Watch the weekly BTC chart for a close below $73,000; a breach could signal a move toward $60,000.
- Follow the Fed’s December FOMC minutes for clues on rate path.
- Track US CPI and oil price movements for additional inflation signals.
Frequently asked questions
Why did Bitcoin stay below $70,000 after the PPI release?
The October PPI rose 6.5% year‑over‑year, just 0.1 point below forecasts, keeping inflation concerns alive. The modest miss raised the odds of a 25‑bp Fed hike to 89.7%, strengthening the dollar and weighing on Bitcoin, which fell to $68,700 on 13 Nov 2026.
What technical level could trigger further downside for Bitcoin?
Analyst Rekt Capital warned that a weekly close below $73,000 would mark the third support break of 2026. Past breaches of that level have preceded declines toward $60,000, making $73,000 a critical watchpoint for traders.
Official data sources
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This article is compiled from international market news for information only. It is not investment advice.