Bitcoin plunged to roughly $71,200, its lowest level in nearly 12 weeks, as broader markets sold off and crypto leverage unwound. The move puts risk assets back in the danger zone.

  • BTC fell about 3.4%, while Ether, Solana and XRP dropped more than 3.5%.
  • Crypto liquidations exceeded $750 million, including over $634 million in long positions.
  • Strategy and Metaplanet are set to lose MSCI index membership on Nov. 30, potentially intensifying passive-fund selling.

LaunchBar take: this is a leverage flush, not a clean fundamental reset. Traders should watch exchange outflows and funding rates before chasing a bounce; another liquidation wave can hit first.