Bitcoin falls about 14% in a week to lows near $65,000

Bitcoin Magazine Pro data showed bitcoin near $65,200 on Saturday morning, down about 14% over the past week after touching roughly $65,000. The decline pushed bitcoin beneath Friday's roughly $67,555 low to the weakest price since mid-August. Bitcoin also traded around $65,600 on Saturday, approximately 13% below the level a week earlier. Bitcoin stood near $65,100 at the time of writing.

Bitcoin traded around $75,750 a week earlier, on November 7. Nvidia chief executive Jensen Huang resigned on Thursday, after which bitcoin's decline accelerated. The leadership change triggered selling in AI stocks, which could potentially have pushed bitcoin beneath $72,000. Bitcoin approached $71,000 on Thursday evening. Bitcoin then fell to roughly $67,555 around midnight Eastern on Friday, the lowest price since August. Bitcoin rebounded toward $69,800 on Friday morning.

The producer-price release briefly lifted bitcoin above $70,000, but the increase lasted only minutes. Bitcoin remained beneath $70,000 on Friday afternoon, trading around $68,900. Renewed selling on Friday evening pushed bitcoin into the mid-$66,000s. Bitcoin stabilized briefly around $67,000 overnight. Selling restarted after 8 a.m. ET Saturday, and bitcoin reached approximately $65,500 during the 10 a.m. hour, below Friday's trough.

The Labor Department said the final-demand Producer Price Index increased 0.3% in October, below the 0.4% rise economists expected. The unadjusted index increased 6.5% from a year earlier, the biggest 12-month gain since November 2022. The 10-year Treasury yield reached a four-week peak of 5.17% on Friday before ending at 5.15%. The U.S. dollar index remained at a 19-month high, the strongest reading since April 2025.

Boston Fed President Susan Collins said Friday that "soon, some additional tightening of Fed monetary policy may be appropriate". San Francisco Fed President Mary Daly said policymakers will, "in all likelihood, raise interest rates." CME FedWatch data showed traders fully pricing a quarter-point increase at the Federal Reserve's December 8-9 meeting. Higher interest rates increase the cost of holding bitcoin, which provides no interest income. Dollar strength has pressured bitcoin during much of November.

The iShares Semiconductor ETF lost more than 3% on Friday. Advanced Micro Devices shares declined more than 8%. The Nasdaq 100 ended the session 1.22% lower. U.S. equity and bond markets were closed Saturday, although Friday's levels continued to shape weekend trading. Nvidia is scheduled to publish third-quarter results on Tuesday under interim CEO Colette Kress, the first earnings release since Huang's departure.

BlackRock's iShares Bitcoin Trust (IBIT) lost $2 billion across nine consecutive days of outflows through Wednesday. Spot bitcoin ETFs recorded a sixth consecutive day of net outflows on Thursday. Weekend trading usually has lower liquidity, making bitcoin more vulnerable to abrupt moves in either direction.

Bitcoin's mining difficulty decreased 9.13% at 12:02 a.m. ET Saturday at block 975,744, moving from about 148.36 trillion to 134.82 trillion. The reduction was the largest since June and provided some relief for miners. The network automatically recalibrates difficulty after every 2,016 blocks to maintain an average block interval of approximately 10 minutes.

Traders will monitor whether bitcoin remains below Friday's $67,555 low. Traders will also watch whether Nvidia's Tuesday results prolong the chip-stock weakness that has accompanied bitcoin's decline throughout the week. Further increases in yields when markets reopen could maintain pressure on bitcoin, with a December rate increase fully priced and the dollar at a 19-month high.