# Crypto market brief · 2026-11-14

BTC -6.65% over 24h. Liquidity state: SUPERPOSITION (11). US traders have bid below the global price for 70 straight days. Fear & Greed 13 (extreme fear).

Source: https://bykaranteli.com/brief/2026-11-14 · attribute to ByKaranteli and quote the timestamp.
Snapshot taken 2026-11-14.

This is the archived market brief for 2026-11-14. The numbers below reflect the market at the end of that day.

## Market pulse

Where the market stands right now: price, dominance, sentiment, and sideline capital.

- BTC $63614 · -6.65% in 24h
- BTC dominance 58.80% · total market cap $2.2T
- Fear & Greed: 13 (Extreme Fear)
- Retail Euphoria Index: 37 (CAUTIOUS)
- Stablecoin supply: $287.7B · -$660.6M 24h

## Liquidity & stress

ByKaranteli's own liquidity-state model plus the gap between US-regulated and global pricing.

- PsiCharge state: SUPERPOSITION · score 11/100
- In this state over the last 12 months (4116 readings), BTC averaged -0.21% over the next 24h and closed higher 50% of the time
- Coinbase Premium -0.11%: US bids below global price, day 70 of the streak

## Flow & positioning

Order-flow toxicity and where leveraged open interest moved in the last 24 hours.

- BTC order-flow toxicity (VPIN) 0.13, 45th percentile of 90 days
- Biggest OI move: AVAXUSDT open interest -18.2% with price -13.9% (long squeeze)
- Across 10 tracked majors: 2 adding leverage, 2 squeezing out
- Top-30 perp positioning: 12 symbols long crowded, 18 in short ramp

## Whales, positioning and stock perps

What the largest Hyperliquid accounts hold, how Binance accounts are positioned, the stock and commodity perps, and the Korea and Turkey premium.

- Hyperliquid whales (top 1000 accounts by equity): $1.2B long vs $1.9B short, 38% long
- BTC whale book: 35% long on $977.0M of open positions
- BTC on Binance: long/short accounts 2.98, top-trader positions 1.79, taker buy/sell 0.96 (1h)
- Stock and commodity perps: 236 contracts, $4.4B open interest; largest XAUUSDT ($477.2M), most liquidated XAUUSDT ($32.8M in 24h)
- Kimchi premium (Upbit BTC) +3.784%, Turkey premium (BtcTurk BTC) +0.333%

## Options desk

Implied volatility and what the tape actually paid for in the last 24 hours.

- BTC implied volatility (DVOL): 39.8
- 24h taker premium: $7.2M into calls vs $39.0M into puts
- Largest print: sell BTC-25DEC26-90000-P · $8.3M premium
- Put/call OI ratio 0.73 · call wall at $80000, put wall at $60000

## Liquidations

Forced liquidations recorded across our exchange feeds in the last 24 hours.

- 24h wipeouts: $1.4B longs vs $89.0M shorts across 296,838 events
- Largest single liquidation: ETHUSDT $16.2M
- 4 cascade events detected in 24h, largest $620.6M

## ETF flows

US spot ETF net flows, last finalized trading day.

- BTC ETFs $185.5M on 2026-11-13 · day 7 of the outflow streak
- ETH ETFs +$2.4M on 2026-11-13 · day 1 of the inflow streak

## Calendar

What is scheduled, and what similar days have actually done to price.

- FOMC statement · December 8-9, 2026 in 25 days
- Fed days move BTC 2.5x a normal half hour (18 meetings measured)
- CFTC week of 2026-11-03: hedge funds net -2,591 BTC futures contracts (+1,388 WoW)

## Desk highlights

The notes the desk scored highest this day, in full.

### 01:10 UTC · Exchanges forced shut $1.13B of leveraged bets

Nov 13 was the heaviest day for forced closures in our recent window. Our streams recorded $1.13B of liquidated positions across 12 venues and 158,422 events, up 177.1% from $408.1M on Nov 12 and far above the 7 day average of $321.3M.
Traders betting on a rise took the bulk of it, $884.0M or 78.2%, against $246.9M of shorts. $BTC led with $542.6M, of which $500.9M were longs. $ETH followed at $236.8M and carried the largest single closure, $17.8M on Binance.
One coin went against the grain. $POD saw $111.0M of short positions closed and almost no longs.

Board: /liquidations · Permalink: /brief/2026-11-14#2026-11-14-0110-liquidations-daily

### 21:00 UTC · Open futures bets shrink 10.06% in a day

Open futures bets shrank 10.06% in the 24 hours to Nov 14. Perpetual open interest, the value of all open futures positions across 27 venues, came to $54.82B, with 12.74% of it held on decentralized venues.
Leveraged longs took nearly all the forced exits. Our collectors recorded $1.13B in liquidations across 251,361 events, $1.07B of it from longs against $66.3M from shorts. $BTC led with $351.1M; the largest single one was a $16.2M $ETH position.
US spot $BTC ETFs saw -$185.5M net on Nov 13, and Ether funds took in $2.4M. On Hyperliquid, the 265 large accounts with open positions held 37.6% of their notional long. The biggest resting $BTC bid band sits at $60.0K, 7.55% below the mid, worth $74.6M.

Board: /liquidations · Permalink: /brief/2026-11-14#2026-11-14-2100-data-wrap

### 20:00 UTC · Bitcoin's share falls for a third day

Bitcoin has lost ground to the rest of crypto for 3 straight days. At 19:42 UTC on Nov 14 it held 58.89% of a market worth $2.24T, so well over half of all the money in crypto still sits in one coin.
A shrinking share means $BTC has done worse than the field over those days, either falling harder or rising less than everything else combined.
$ETH held 9.98% at the same reading. Three days is a short run, and Bitcoin's weight in this market is still far larger than any other coin's.

Board: /glossary/btc-dominance · Permalink: /brief/2026-11-14#2026-11-14-2000-dominance-watch

### 14:20 UTC · US buyers bid below the world for 70 days

Bitcoin on Coinbase, where US buyers trade, closed Nov 13 at -0.113% under the global price. That makes 70 straight days on the discount side.
The 7 day average was -0.131%. The deepest day of the past 90 came on Oct 29 at -0.271%, and the highest was +0.032% on Aug 27.
Futures traders paint a different picture. The current quarter contract carries a +5.42% annualized premium over spot, meaning buyers there pay extra to hold $BTC exposure for later.

Board: /premium · Permalink: /brief/2026-11-14#2026-11-14-1420-premium-daily

### 13:30 UTC · Bitcoin ETF redemptions run to 7 sessions

Redemptions have outpaced purchases in the US spot $BTC ETFs for 7 straight sessions. On Nov 13 the group posted a net flow of -$185.5M, and IBIT alone accounted for -$143.5M.
Across the five sessions to Nov 13, -$1.07B left the Bitcoin funds, so the single day and the week point the same way. The funds still hold $86.20B in net assets, with cumulative net inflow at $54.63B.
The Ether funds took in $2.4M the same day.

Board: /etf · Permalink: /brief/2026-11-14#2026-11-14-1330-etf-flows

### 09:00 UTC · Fear hits 13 but order flow stays calm

Bitcoin's order flow on Nov 14 looks calmer than the mood around it. VPIN, a gauge of how one sided trading is, read 0.13, the 32nd percentile of the past 90 days. The Fear & Greed index sat at 13, extreme fear.
$BTC traded at $67,002, down 2.58% over 24 hours and -11.88% over 7 days, with a 58.82% share of a $2.3T market. US buyers have bid below the global price for 70 straight days. Our liquidity model reads superposition, score 32.
The biggest leverage move came on $AVAX, where open interest fell 7.8% as price dropped 3.3%, leveraged longs closing out.

Board: /brief · Permalink: /brief/2026-11-14#2026-11-14-0900-daily-brief

### 08:10 UTC · Blocks carried 79% of Bitcoin options money

Most of the money in Bitcoin options over the last 24 hours changed hands away from the order book. Block trades, which are deals negotiated privately and then reported to the venue, carried 79% of all premium dollars across 27,059 recorded trades.
Buyers split almost exactly in half. They paid $17.8M for calls, which pay if $BTC settles above the strike, and $17.9M for puts, which pay if it settles below.
The largest tickets of the last 48 hours were all put blocks. Sellers took on $8.3M of $90,000 puts for Dec 25 and $5.7M of $65,000 puts for Jun 25, 2027. A buyer paid $7.2M for $80,000 puts on the same Dec 25 expiry.

Board: /options-flow · Permalink: /brief/2026-11-14#2026-11-14-0810-options-flow-daily

### 05:40 UTC · Bitcoin mining power drops 21.2% over 30 days

Bitcoin had 21.2% less mining power on Nov 13 than 30 days earlier, and the drop is still showing up week on week. Our node read the hashrate, the computing power securing the chain, at 825 EH/s, down 14.7% over the past 7 days.
Difficulty, the bar a miner has to clear to find a block, read 148.36T on the same day.
Block space stayed cheap. Fees ran at 4.5 sat/vB (satoshis per virtual byte of a transaction), and miners took in 374.7 BTC in revenue for the day.

Board: /network · Permalink: /brief/2026-11-14#2026-11-14-0540-network-daily

## Desk log

The rest of the day's notes, in order of publication.

### 00:35 UTC · A $13.8M long took the day's biggest hit

A $13.8M long on Binance was the largest forced closure of the 24 hours to Nov 14, as Bitcoin slid -4.38% to $68,292.
It was one of 12,572 recorded prints of $1K or more across the window, each one a leveraged position the exchange closed for lack of margin. The biggest of them fell on a trader positioned for a rise.
The liquidation heatmap behind the candles is an estimate of where leveraged positions sit; the prints on the candles are recorded.

Board: /chart?s=BTCUSDT&p=1h&heat=1&pr=1&lv=1 · Permalink: /brief/2026-11-14#2026-11-14-0035-chart-daily

### 02:31 UTC · Leveraged longs lose $180.3M in an hour

A $7.0M Ether long on Binance, closed near $1,876 at 02:29 UTC, was the biggest single casualty of a one sided flush across crypto. In the last 60 minutes, $182.3M of leveraged positions were forced shut across 797 coins on the major venues, and 99% of it was traders betting on a rise.
The timing was tight. $179.9M of the hour came in its last 30 minutes. $BTC longs lost $71.8M against $673.9K of shorts, with the largest Bitcoin hit a $2.5M long near $66,856. $ETH longs lost $47.6M against $167.2K of shorts.
Bitcoin trades at $67.1K, -4.79% over 24 hours, after a session low of $66.8K. Ether is -5.67% at $1.9K.

Board: /liquidations · Permalink: /brief/2026-11-14#2026-11-14-0231-event-liq-cascade

### 02:40 UTC · Hedge funds add CME longs six weeks running

Hedge funds trading CME Bitcoin futures added longs for a sixth straight week in the CFTC report dated Nov 3, and they still ended it net short, meaning more contracts betting on a fall than on a rise, by 2,591 contracts.
The latest week moved their position 1,388 contracts toward the long side. Institutions sat on the opposite side, net long 2,403 contracts after trimming 351 over the week. Total open contracts came to 17,527.
On CME Ether futures, hedge funds were net short 3,699 contracts.

Board: /cot · Permalink: /brief/2026-11-14#2026-11-14-0240-cot-report

### 03:10 UTC · Longs carried 84% of stock perp closures

Traders betting on higher prices took most of the damage on Binance's stock, commodity and index perpetuals on Nov 13. Of $61.41M in forced closures, longs accounted for $51.3M against $10.1M for shorts, an 84% longs / 16% shorts split across 233 contracts and 17,450 events.
$SOXL led the day with $11.18M closed out, ahead of $SNDK at $9.03M and silver at $7.74M. The largest single closure was an $872K silver position.
The total came in 16% lighter than Nov 12, when $73.05M was forced shut.

Board: /tradfi · Permalink: /brief/2026-11-14#2026-11-14-0310-tradfi-liquidations-daily

### 03:37 UTC · Bitcoin longs take a $35.2M flush

Bitcoin's latest liquidation burst came down almost entirely on buyers. In the last 30 minutes, the major venues closed $35.2M of leveraged $BTC long positions. These were bets on a higher price whose collateral ran out, so the exchanges shut them.
Traders on the other side got off lightly. Shorts lost $941.1K in the same window, a small fraction of the long side's losses.
The count comes from the raw liquidation streams of the major venues.

Board: /liqmap/btc · Permalink: /brief/2026-11-14#2026-11-14-0337-event-liq-burst

### 05:07 UTC · Poloniex halts XRP withdrawals on XRP network

Poloniex has just switched off $XRP withdrawals on the XRP network. The suspension appears on the exchange's own currency list.
The confirmed closure covers one coin on one route, outbound only. Deposits and other networks may still be running. Anyone planning to move XRP off Poloniex to a wallet or another venue is the one affected.
A closed withdrawal route is usually the first public signal a venue gives when something needs attention, and most of these pauses turn out to be routine maintenance.

Board: /withdrawals/xrp · Permalink: /brief/2026-11-14#2026-11-14-0507-event-venue-event

### 06:20 UTC · Bitcoin longs on Binance pay 6.13% to stay

Bitcoin longs on Binance were handing shorts 6.13% a year in funding, the fee perpetual longs pay to keep positions open, in the Nov 14 read at 05:29 UTC. Borrowing $BTC on margin at the same venue cost just 0.48% a year.
That left a 5.65% gap, the widest funding over borrow spread we recorded across 15 assets on three venues.
Dollars told a different story. Binance charged the most to borrow USDT on margin at 5.13% a year, Bybit the least at 3.99%, and the median across the three venues came in at 4%.

Board: /borrow · Permalink: /brief/2026-11-14#2026-11-14-0620-borrow-daily

### 07:37 UTC · Binance pauses USDT withdrawals on MATIC

$USDT can no longer be withdrawn from Binance over the MATIC network. The exchange just marked that route suspended on its own currency list.
The confirmed change is narrow: one stablecoin, one network, outbound only. Deposits and other networks may still be open.
A withdrawal pause is usually the first public signal an exchange gives when something needs attention, and most of them are routine maintenance. Anyone who planned to send USDT off Binance via MATIC is the one affected until the route reopens.

Board: /withdrawals/usdt · Permalink: /brief/2026-11-14#2026-11-14-0737-event-venue-event

### 07:41 UTC · Oversold coins outnumber overbought ones

On the 4 hour chart, 102 of the 634 coins we track sit in oversold territory. Only 8 show up as overbought, so sellers have pushed far more of the market to a stretched low than buyers have pushed to a stretched high.
RSI, the relative strength index, measures how hard recent closes have moved one way. An oversold reading marks a run of mostly falling candles. The average across the whole universe stands at 40.19, below the middle of its scale.
Oversold describes how fast prices have fallen, not where they stop.

Board: /data · Permalink: /brief/2026-11-14#2026-11-14-0741-data-spotlight

### 08:00 UTC · Celestia shorts pay the steepest rate

Celestia was the most expensive coin to bet against on the morning of Nov 14. $TIA shorts were paying longs -0.03% in funding, the periodic fee one side of a futures market pays the other, the deepest negative rate on our extremes list.
Open positions in $TIA shrank 3.86% over 24 hours, so that cost falls on a smaller pool of bets than a day earlier.
The other side of the board looks different. On $INJ, longs paid shorts 0.01% while open positions grew 15.12% in 24 hours, the fastest build among the coins where buyers carry the fee.

Board: /glossary/funding-rate · Permalink: /brief/2026-11-14#2026-11-14-0800-funding-extremes

### 09:20 UTC · Binance alone grows among top insurance funds

Binance's insurance fund was the only one of the five largest to grow in the 24 hours to 09:00 UTC on Nov 14, up +0.19% and holding $1.88B. Bybit's moved most the other way, at -1.30%, leaving it with $1.04B.
Across all 10 venues the funds hold $6.66B, a -0.71% day worth -$47.6M and -3.80% over seven days. OKX still holds the largest, $2.72B, after a -1.18% day.
An insurance fund is the cash a venue keeps to cover liquidations that close below a trader's bankruptcy price. These are balances the venues report, not audits. Together they equal 16.89% of perpetual open interest on the coins we track.

Board: /insurance-funds · Permalink: /brief/2026-11-14#2026-11-14-0920-insurance-daily

### 09:20 UTC · Deribit settles Bitcoin futures at $67,090.27

Bitcoin's dated futures on Deribit expired at $67,090.27 on Nov 14. The 08:00 UTC fixing gave the same price to the contract margined in Bitcoin and the one margined in USDC, and Deribit's $AVAX contract closed at $8.002.
Those three were the only dated futures settlements our collectors recorded in the 24 hours to 09:15 UTC.
The week ahead carries 134 dated futures contracts across 15 venues, alongside 8,196 option contracts. First up is Nov 15, with one $BTC contract on Bullish, plus 13 Bitcoin and one AVAX delivery contracts on Deribit.

Board: /settlements · Permalink: /brief/2026-11-14#2026-11-14-0920-settlements-daily

### 09:37 UTC · AKE short sellers just got squeezed

A short squeeze just ran through AKE. Over the last 30 minutes, the major venues liquidated $2.3M of leveraged $AKE short positions. These were bets on a lower price, and the exchanges closed them when the collateral behind them ran out.
Buyers using leverage were caught too. $936.8K of AKE long positions were liquidated in the same window, so both sides were hit, with the heavier losses on those betting against the coin.

Board: /liqmap/ake · Permalink: /brief/2026-11-14#2026-11-14-0937-event-liq-burst

### 09:40 UTC · MEXC lets Bitcoin traders borrow up to 500x

A $BTC trader on MEXC can open a position at up to 500x leverage, under a single tier, so the same cap applies whatever the position size. On Phemex the ceiling is 20x, the lowest across the venues we track.
Binance and Bitget cap Bitcoin at 150x across 12 tiers each. Gate, DigiFinex and HTX allow 200x, with Gate splitting its limits into 19 tiers, the most in this group.
Across the top 50 perpetuals on our 13 venues, the average maximum leverage is 81.1x. Exchanges made 52 changes to their leverage tiers in the 7 days to Nov 14.

Board: /leverage · Permalink: /brief/2026-11-14#2026-11-14-0940-leverage-weekly

### 09:41 UTC · Bid depth rose 19.8% on a down day

Resting bids in the $BTC spot book grew 19.8% over the 24 hours to 09:36 UTC on Nov 14, and offers in the same range slipped 1.1%. Price fell 2.7% over that stretch, from $69.0K to $67.2K.
Across 21 spot venues, bids within 2% of the mid price total $169.8M against $131.6M of asks. That is a 12.7% lean toward the bid side.
The two largest walls rest near the mid. A $29.4M bid sits at $67.2K, 0.05% below it, and a $30.1M ask sits at $67.3K, 0.15% above.
This is a snapshot of resting orders, and any of them can be pulled at any time.

Board: /orderbook?symbol=BTC · Permalink: /brief/2026-11-14#2026-11-14-0941-orderbook-btc

### 10:00 UTC · Sellers edge ahead in two way whale trading

Whale sized trades ran close to even in the 24 hours to 10:00 UTC on Nov 14. Sells came to $11.88B and buys to $10.14B, leaving buyers with a 46% share. That is short of the 45% line where sellers clearly lead, so the day reads as two sided with a seller tilt.
Bitcoin drew most of the activity, with 4,818 of the 8,103 large trades on $BTC. The biggest single burst of same side trades was also on Bitcoin, adding up to $92.3M.

Board: /whales · Permalink: /brief/2026-11-14#2026-11-14-1000-whales-daily

### 11:00 UTC · Bitcoin leverage is stacked on both sides

Bitcoin traded at $67,268 at 11:00 UTC on Nov 14, and leveraged traders on both sides are exposed. Within 3% of that price, the estimated liquidation risk is split fairly evenly between shorts and longs.
Above the market, the nearest modeled short cluster sits at $67,811 and the largest at $69,612. Those are the levels where traders betting on a fall would be forced to buy back.
Below, the first modeled long cluster is at $66,460 and the largest at $66,189, close together under the price.

Board: /liqmap/btc · Permalink: /brief/2026-11-14#2026-11-14-1100-liqmap-btc

### 12:00 UTC · Traders cut futures bets on all ten coins

Leverage drained out across the board in the 24 hours to Nov 14, 11:35 UTC. All ten large coins we track lost price and open interest, the value of futures bets still open.
Avalanche took the deepest cut. $AVAX open interest fell 9% as the price dropped 4.33%. $BTC followed with 7.55% of its open bets gone on a -2.92% day; both read as deleveraging on the way down. $SOL shed 7.08% of its bets with a -5.78% price move, the steepest drop on the board.
XRP was the odd one out. Its open interest barely moved, down 0.76% against a -2.77% price, and the positions that stayed lean short.

Board: /oi-leaderboard · Permalink: /brief/2026-11-14#2026-11-14-1200-oi-movers

### 13:00 UTC · Ether longs carry the heavier modeled risk

Leveraged Ether buyers hold the heavier share of estimated liquidation risk near the $1,899 price on Nov 14 at 13:00 UTC. Within 3% of price, more modeled exposure sits below than above, where long positions would be forced to sell.
The closest modeled long level is $1,878, and the larger cluster underneath is at $1,861.
Overhead, the nearest estimated short level is $1,924, with the bigger one at $1,963. Shorts would have to buy back there.

Board: /liqmap/eth · Permalink: /brief/2026-11-14#2026-11-14-1300-liqmap-eth

### 13:10 UTC · Coinbase lists three stock wrappers on Base

Coinbase Tokenized Stocks was the only issuer to add stock wrappers on Nov 14, and it put all three on Base.
The new tokens are GTc for $GT, WUc for $WU and YOUc for $YOU. Each was taken from the issuer's own list, not matched by a name search.
No other chain and no other issuer recorded a new wrapper that day.

Board: /tokenized-stocks · Permalink: /brief/2026-11-14#2026-11-14-1310-tokenized-listings

### 13:50 UTC · Bitcoin and Ether trade under Nov 13 value

Bitcoin and Ether both trade below the price band where most of yesterday's session, Nov 13, was spent.
Bitcoin's most traded price was $68,834.21. Its value area, the range that held 70% of the session's time, ran from $68,173.54 to $69,494.87, and $BTC now trades at $66,736.90. The session's first hour ranged from $70,635.20 to $71,490.70, above that value area, and the close came at $68,279.80.
Ether's most traded price was $1,930.68, with a value area of $1,918.06 to $1,963.49. $ETH now trades at $1,890.12.

Board: /symbols/BTCUSDT · Permalink: /brief/2026-11-14#2026-11-14-1350-market-profile-daily

### 14:00 UTC · Large orders cost most to fill in Chainlink

Pushing size through Chainlink cost far more than through Bitcoin. At 14:00 UTC on Nov 14, a $1.0M market order in $LINK gave up 20.4 bps, the most of the eight books we read. The same order in $BTC cost 0.8 bps.
$ADA was the next thinnest at 18.4 bps, then BNB at 12 bps and Dogecoin at 11.7 bps. On the deep side, Ether cost 1.6 bps and Solana 4.4 bps. A basis point is a hundredth of a percent of price.
On a thin book, each forced closure eats through more price levels to get filled. A cluster of liquidations moves price further on the coins at the bottom of this list than on the ones at the top.

Board: /slippage · Permalink: /brief/2026-11-14#2026-11-14-1400-slippage-daily

### 14:00 UTC · Buyers stack deeper books under Bitcoin

Buyers had more money resting under $BTC than sellers had above it on Nov 14. At 13:56 UTC across 21 spot venues, $182.2M of bids sat within 2% of the $67.1K price against $136.2M of asks, an imbalance of 14.5% toward the bid side.
The heaviest offers clustered right on top of the price, $32.8M at $67,169, only 0.15% above. The deepest bids rested further back, $29.5M at $65,291, 2.65% below.
$ETH was closer to even at 4.7%, with $15.8M bid at $1,890 and $15.9M offered at $1,896 on either side of the $1.9K price.
This is resting size, and it can be pulled before it ever trades.

Board: /orderbook · Permalink: /brief/2026-11-14#2026-11-14-1400-orderbook-walls

### 14:07 UTC · Ether longs take a $25.1M flush

Ether buyers on leverage just took a hard hit. Across the major venues, $25.1M of $ETH long positions were liquidated in the last 30 minutes, meaning exchanges closed bets on a higher price once the collateral behind them ran out.
The other side barely moved. Shorts, the traders betting on a lower price, saw only $218.9K closed over the same half hour.
These totals come from the raw liquidation streams of the major venues.

Board: /liqmap/eth · Permalink: /brief/2026-11-14#2026-11-14-1407-event-liq-burst

### 14:26 UTC · Ether longs take the deepest cut in a flush

Leveraged Ether buyers took the hardest hit in a flush that just swept the crypto perp market. Over the last 60 minutes, $112.6M of positions were closed across 803 coins on the major venues. $110.1M of that was longs, 98% of the total, and $110.5M of it came in the last 30 minutes.
$ETH longs lost $40.3M against $28.6M on $BTC. The largest single loss was a $3.1M Ether long on Binance near $1,865 at 14:01 UTC; a $2.2M Bitcoin long followed at 14:24 UTC near $66,093.
Bitcoin trades at $66,058, -4.55% over 24 hours, a hair above its session low of $66,041. Ether is at $1,850, -5.68% on the day.

Board: /liquidations · Permalink: /brief/2026-11-14#2026-11-14-1426-event-liq-cascade

### 15:01 UTC · BARD shorts pay 0.41% to stay in

BARD tops our pressure board in the 24 hours to 15:00 UTC on Nov 14, and bets on a fall carry it. Open positions on $BARD fell 19.28%, yet shorts still pay 0.41% in funding, the fee one side hands the other to keep a bet open.
$SOPH carries the steepest charge on the board, with shorts paying 0.63% and open bets down 4.8%. On both coins the cost sits on positions already in place, not on new money.
AKE lost 39.78% of its open bets and AMD 24.51%, with funding near flat. $ZEC is the only long lean in the top eight, open bets up 8.24%.

Board: /pressure · Permalink: /brief/2026-11-14#2026-11-14-1501-pressure-snapshot

### 15:20 UTC · Lira buyers pay a +0.25% premium for Bitcoin

Bitcoin cost lira buyers more than the rest of the world on Nov 14. The Turkey Premium Index read +0.25% (+25.0 bps) at 15:19 UTC, against a 24 hour average of +5.2 bps.
The coin itself traded close to the global price, a crypto leg of +1.7 bps. The gap came from the dollar. Tether traded +23.2 bps above the official USD/TRY rate, last set on Nov 13.
Bitlo was the dearest of the Turkish exchanges at +43.3 bps, and even the cheapest, CoinTR, sat +13.0 bps above the world price for $BTC. This is a price gap, not a trade anyone can lock in.

Board: /turkey-premium · Permalink: /brief/2026-11-14#2026-11-14-1520-turkey-daily

### 15:37 UTC · Leveraged Bitcoin buyers take a $59.0M hit

Leveraged Bitcoin buyers just absorbed a sharp flush. The major venues liquidated $59.0M of $BTC long positions in the last 30 minutes. A liquidation is when an exchange closes a borrowed position because the trader's margin can no longer cover it.
The pain was one sided. Over the same 30 minutes, $BTC shorts, the traders betting on a lower price, saw $2.5M closed.
The figures come from the raw liquidation streams of the major venues.

Board: /liqmap/btc · Permalink: /brief/2026-11-14#2026-11-14-1537-event-liq-burst

### 15:40 UTC · Ether buyers outweigh sellers by 14.5%

Buyers outweigh sellers in the $ETH spot book by 14.5% within 2% of the price, even after Ether slid 4.5% over the 24 hours to 15:36 UTC on Nov 14.
Across 21 spot venues, $83.80M of bids rested against $62.53M of asks in that range. The largest bid wall held $11.88M at $1,831.08, 0.15% below the mid of $1,833.83. The largest ask wall held $10.79M at $1,836.58, 0.15% above.
Most of the change came from sellers. Offers within 2% shrank 13.2% from a day earlier, and bids gave up only 0.7%. This is a snapshot, and resting orders can be pulled at any time.

Board: /orderbook?symbol=ETH · Permalink: /brief/2026-11-14#2026-11-14-1540-orderbook-eth

### 16:07 UTC · Leveraged gold buyers forced out in 30 minutes

Gold's leverage just cleared out on one side. Over the last 30 minutes, the major venues liquidated $6.7M of $XAU long positions. Those were bets on a higher price, closed by the exchanges once the margin behind them could no longer cover them.
Short sellers were almost untouched. Liquidated bets on a fall came to just $2.2K in the same half hour, so the flush landed almost entirely on leveraged buyers.
The figures come from the raw liquidation streams of the major venues and count only what those venues reported.

Board: /liqmap/xau · Permalink: /brief/2026-11-14#2026-11-14-1607-event-liq-burst

### 16:30 UTC · Selling pushes 214 Binance perps into oversold

Selling has pushed most of the Binance perp board into oversold territory on the daily view. Of 400 crypto perps, 214 have a 14 day RSI at or under 30. RSI is a momentum gauge that scores how one sided recent moves have been. Only 12 sit at 70 or above, and the average reading is 36.9.
Large caps are among the most stretched. $SOL reads 15.9 after a -8.1% day, and $XRP reads 18.1 after -5.0%.
$KAVA tops the list at 8.5 after a -52.7% day. Low readings like these describe how hard prices have been pushed, not where they go next.

Board: /rsi · Permalink: /brief/2026-11-14#2026-11-14-1630-rsi-daily

### 16:31 UTC · Ether longs take the hit in a $69.4M flush

Leveraged buyers just took almost the whole hit. In the last 30 minutes, $69.4M of positions were forced shut across 769 coins on the major venues, and $65.3M of it, 94%, was longs. Shorts lost $4.1M.
Ether was the weak spot. Its longs lost $16.6M against $388.5K for shorts, and the biggest single closure was a $2.2M $ETH long on Htx near $1,810 at 16:12 UTC. In the same minute an $855.0K Solana long went on Binance at $72.63.
Bitcoin was more balanced, with $5.5M of longs and $3.3M of shorts closed. $BTC last traded at $65,364, down 4.84% over 24 hours, after a session low of $65,040. Ether is at $1,824, down 5.49%.

Board: /liquidations · Permalink: /brief/2026-11-14#2026-11-14-1631-event-liq-cascade

### 16:37 UTC · Bitget closes USDC withdrawals on Aptos

Bitget just shut the door on $USDC leaving the exchange over Aptos. The withdrawal route now shows as suspended on the venue's own currency list, and our daily read caught the change.
Only one path is confirmed closed: USDC, Aptos network, outbound. Deposits and other networks may still be working.
A suspended withdrawal is the earliest public signal a venue gives when something is off, though most of these turn out to be routine maintenance. Traders who planned to move USDC off Bitget through Aptos are the ones affected for now.

Board: /withdrawals/usdc · Permalink: /brief/2026-11-14#2026-11-14-1637-event-venue-event

### 17:01 UTC · Accounts bet long three to one into a slide

$BTC is down 16.07% over 14 days to $65,102, and today all accounts hold 3 long bets for every short one. Across that window the ratio ranged from a 1.37 low to a 3.46 high.
The biggest traders look different depending on how you count them. By account they show 3.54 longs per short; weighted by position size the figure is 1.85, so the larger money leans long far less than the crowd.
Market orders went the other way. Over 24 hours, the gap between market buys and sells was -9,802 BTC. Among the 30 coins we read, $SOL has the most lopsided crowd, at 3.67 long accounts per short.

Board: /positioning · Permalink: /brief/2026-11-14#2026-11-14-1701-positioning-daily

### 17:30 UTC · Gold leads traditional bets on crypto venues

Gold is the largest traditional market on crypto derivatives venues, with $481.01M in open bets on XAU contracts. Nvidia ($NVDA) comes next at $362.93M, and SPCX is close behind at $359.66M.
Across 236 instruments tied to stocks, metals and other traditional assets, open interest totals $4.37B. Open interest is the value of positions still open. Over 24 hours, $7.36B changed hands on those contracts.
Every open position has a buyer and a seller, so this figure shows how much money is committed to these markets. It does not show which way traders lean.

Board: /data · Permalink: /brief/2026-11-14#2026-11-14-1730-data-spotlight

### 18:00 UTC · Just over half of altcoins outpace Bitcoin

Bitcoin has gained only 4.6% over the past 90 days, and 27 of the 50 altcoins we sample have cleared that bar. That puts the Altcoin Season Index at 54 on Nov 14, 4 points lower than seven days earlier and still in no clear season.
The gap inside the sample is wide. $ARIA leads with +452.1% over 90 days, and $UAI trails at -87.1%.
A reading of 75 or more would mark altseason; 25 or below, Bitcoin season.

Board: /altseason · Permalink: /brief/2026-11-14#2026-11-14-1800-altseason-daily

### 19:00 UTC · Fear sinks 7 points into the extreme zone

Traders sank 7 points deeper into fear in a single day. The Fear and Greed index, one score for how anxious or confident the crypto market feels, read 13 at 19:00 UTC on Nov 14 and carries the extreme fear label.
The cash side barely moved by comparison. Stablecoins, dollars already parked on crypto rails, add up to $287.80B, 0.19% less than 24 hours earlier.
Bitcoin accounts for 58.91% of the total value of the crypto market.

Board: /indices · Permalink: /brief/2026-11-14#2026-11-14-1900-indices-snapshot

### 19:10 UTC · Leverage sold Bitcoin, cash buyers kept bidding

Borrowed money and cash money took opposite sides of Bitcoin in the week to Nov 14, 19:00 UTC.
On the global perp market, where positions run on leverage, traders hitting the bid outweighed those lifting the offer by -$2.41B. On the US spot venue, people buying coins outright at the asking price came out ahead by +$554M.
The last 24 hours alone repeated the split. Perp flow ran -$718M and spot flow +$190M, so leveraged selling was larger than the cash buying on both clocks.

Board: /flow · Permalink: /brief/2026-11-14#2026-11-14-1910-flow-cvd-daily

### 20:40 UTC · AI coins alone gain as Quantum drops 3.76%

AI coins were the lone theme basket in the green in the 24 hours to Nov 14, at +0.49%. Quantum coins went the other way and took the heaviest loss of our eight themes at -3.76%, with DeFi close behind at -3.57%.
Over 30 days not one basket has kept up with $BTC, which is itself down -16.4%. Quantum and Meme came closest, both at -19.3%, leaving them 2.9 and 3 percentage points behind.
Layer 2 coins trail furthest at -30.2%, 13.9 points below Bitcoin. Even AI, the day's best, is down -26.4% on the month.

Board: /themes · Permalink: /brief/2026-11-14#2026-11-14-2040-themes-daily

### 20:45 UTC · Stock token trading drops faster than supply

Trading in tokenized stocks thinned out much faster than holdings on Nov 14. Decentralized exchange volume came to $180.7M over 24 hours, -42.53% on the prior day.
The tokens held on chain, valued at their share prices, came to $3.94B, -2.87% since the last recorded day. Binance bStocks is the largest issuer with $1.36B.
The US stock market is closed for the weekend, so there is no live share price to measure the tokens' premium or discount against today.

Board: /tokenized-stocks · Permalink: /brief/2026-11-14#2026-11-14-2045-tokenized-daily

### 21:10 UTC · HTX elite accounts lean against the long crowd

Across 11 venues at 21:02 UTC on Nov 14, Bitcoin traders stood 55 points apart. On Jupiter, 83% of open interest, the money held in open positions, was long. HTX's elite accounts put only 28% of their position weight on that side.
Counted by accounts, every centralized exchange leaned long, from 81% on Bitget to 66% on Gate. Hyperliquid's largest tracked wallets went the other way, with 33% of their notional long, and GMX open interest stood at 42% long.
Size didn't settle on one side, though. Binance's top traders by position were 64% long.

Board: /positioning · Permalink: /brief/2026-11-14#2026-11-14-2110-positioning-venues

### 22:20 UTC · Longs hold 72.2% of Jupiter bets as SOL drops

Solana fell 11.68% to $69.08 over the 24 hours to Nov 14, and traders on Jupiter Perps, the Solana based perps venue, still hold $32.6M in $SOL longs against $8.0M in shorts.
Across $SOL, $ETH and $BTC, bets on a rise make up 72.2% of open positions, $48.3M long against $18.6M short. Ether is the exception, with $5.4M short against $1.8M long after a 9.39% drop.
The short side is where the pool is stretched. 69.6% of the capital backing shorts is in use, against 10.28% on the Solana long side. The JLP pool that takes the other side of these trades holds $666.9M.

Board: /jupiter-perps · Permalink: /brief/2026-11-14#2026-11-14-2220-jupiter-daily

### 22:35 UTC · Solana perps traders turned over $1.38B

Solana's perpetual venues traded $1.38B over the 24 hours to Nov 14, yet only $166.8M of leveraged bets stayed open at the end of that window. Money moved through these books far faster than it stayed in them.
GM Trade held the largest slice, $73.5M or 44.1% of open bets. Pacifica followed at $44.3M and Jupiter Perps at $32.0M. Phoenix carried $13.5M, Bullet $3.3M and Velocity $170K.
The biggest single market was SOL on Jupiter Perps with $20.1M open. Traders there pay an hourly borrow fee of +0.0015%, the cost of using the pool's capital to hold the position. Six venues and 295 markets reported.

Board: /solana-perps · Permalink: /brief/2026-11-14#2026-11-14-2235-solana-perps-daily

Written by the ByKaranteli desk writer, an AI model, from the platform's recorded data and checked against that data before publishing, without human edits. Translations are machine made from the English note; the English text is the record.


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