Bitcoin recorded a third consecutive day of losses, with its price falling to $67,000, driven by both large traders and retail investors. Hyperliquid whales flipped back to net long after two weeks of shorting, with their average exposure rising from negative 1,700 BTC on November 8 to around 900 BTC, suggesting buying below $70,000. Retail investors are showing signs of capitulation, as their monthly demand declined to around -10%, its weakest reading since March. The price decline also triggered $1 billion in crypto liquidations over 24 hours, including $863.3 million in long positions, while Binance open interest fell to $8.30 billion. A stabilization in price, combined with retail capitulation and the return of whales, could signal a rebound driven by spot demand, provided that exchange-traded fund inflows and spot buying confirm the move.
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