Bitcoin Reaches 12-Week Low as December Fed Rate Expectations Rise

Bitcoin fell to roughly $68,500-$68,900 on November 13, 2026, reaching its lowest level in about 12 weeks as traders adjusted to expectations for tighter Federal Reserve policy in December. The decline came as persistent U.S. inflation concerns remained in focus and withdrawals from U.S. spot Bitcoin exchange-traded funds continued.

Market pricing indicated a high probability of a 25-basis-point increase at the Federal Reserve’s December meeting. A smaller probability was assigned to a larger 50-basis-point move. Those expectations added pressure to Bitcoin alongside a stronger dollar and a broader reassessment of the interest-rate outlook.

The price drop erased much of Bitcoin’s summer rally, according to reporting by Decrypt. CoinDesk reported that Bitcoin fell below $70,000 during the session, with liquidations topping $1.6 billion. The reports independently placed the asset’s low in the approximately $68,500 to $68,900 range.

For the latest market coverage, readers can follow Bitcoin News. The available reports do not establish how long the ETF outflow streak will continue or provide a confirmed timetable for a change in market positioning before the December meeting.

Rate outlook remains central to the market move

The Federal Reserve’s September 16 statement said inflation remained elevated. At that meeting, the central bank set the federal funds target range at 3.75% to 4.00%, providing the policy backdrop for investors weighing the possibility of another increase later in the year.

The reported December probabilities show that traders were placing greater weight on the prospect of a near-term rate increase rather than assuming policy would remain unchanged. This is a market expectation, not a confirmed December decision by the Federal Reserve.

Higher expected interest rates can affect the relative appeal of risk-sensitive assets, but the reports do not identify a single cause for Bitcoin’s decline. The evidence supports a combination of rate concerns, inflation worries and ETF withdrawals as factors weighing on the market.

Related reading: Bitcoin News on BTCNews.

Spot Bitcoin ETF withdrawals add to pressure

U.S. spot Bitcoin ETFs recorded a reported $47.7 million outflow on Thursday, extending a multi-session withdrawal streak. The figure was cited in reporting from Decrypt and CoinDesk and adds a measurable institutional-flow indicator to the broader market backdrop.

ETF flow data tracks money entering or leaving these U.S.-listed products; it does not by itself determine Bitcoin’s price. In this case, the continued outflows coincided with the move to the 12-week low and with changing expectations for monetary policy.

A related BTCNews report, Bitcoin Dips Below $68,000 as Dollar Holds Near 19-Month High, covers the earlier pressure from the dollar and rate outlook. Investors will be watching subsequent ETF-flow data and Federal Reserve communications for confirmation of whether those pressures persist.

Related reading: Bitcoin Dips Below $68,000 as Dollar Holds Near 19-Month High on BTCNews.

What is confirmed next

The next confirmed policy signal will come from Federal Reserve communications and its December meeting decision. Until then, the evidence shows only that markets were pricing a high chance of a 25-basis-point increase and a smaller chance of a 50-basis-point increase.

Bitcoin’s move illustrates how macroeconomic expectations and crypto-specific fund flows can occur at the same time. Neither the reported low nor the ETF outflow data establishes a forecast for the asset’s next direction.

Sources

• Decrypt: Bitcoin Hits 12-Week Low as Fed Rate Fears Undo Most of Summer Rally
• CoinDesk: Bitcoin falls below $70,000 as dollar surges and $1.6 billion liquidated
• Federal Reserve: Federal Reserve issues FOMC statement

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