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Bitcoin Slips Below $70K as S&P 500 Drops 1.2% Following PPI Data

Bitcoin holds below $70,000 as stocks slide and December Fed rate-hike expectations climb to 89.7% following a cooler-than-expected but historically high PPI print.

📅 November 13, 2026 🕐 1 min read

3 assets impacted (Crypto, Stocks). Net bias: 0 Bullish, 3 Bearish, 0 Neutral. Strongest signal: BTC ↓ 6/10 (70% confidence).

📊 Affected Assets (3)

BTC

Bearish 🤖 70%

📅 Short-term 🌍 GLOBAL · Explicit

Bitcoin sits near $68,700, down 4% on the day after touching a roughly 12-week low of $67,500, and is down 17.7% this quarter. A weekly close below $73,000 would be the third such breakdown in 2026, after which BTC previously fell to around $60,000. A hawkish PPI print keeping rate-hike odds high (89.7% for a 25bp December hike) offers little support.

Catalysts

▼ Weekly close below $73,000 support would mark the third breakdown in 2026, historically followed by drops to around $60,000
▼ October PPI rose 6.5% year over year, the largest annual gain since November 2022, keeping December Fed hike odds at 89.7%

Risk Factors

▲ BTC rebounded from $67,500 to around $68,700, showing buyers near the lows
▲ PPI came in 0.1 percentage points below expectations on both readings, a slightly cooler print

COMP

Bearish 🤖 65%

⚡ Intraday 🌍 US · Explicit

The tech-heavy Nasdaq Composite was 1.5% lower at the time of writing, hurt most by lingering uncertainty around Nvidia after co-founder and CEO Jensen Huang resigned on Thursday. Elevated odds of a December Fed rate hike add pressure on growth stocks.

Catalysts

▼ Nvidia CEO Jensen Huang resigned on Thursday, with traders still parsing the fallout
▼ December Fed 25-basis-point hike odds rose to 89.7% from 85.4%

Risk Factors

▲ PPI readings were 0.1 percentage points below expectations, marginally supportive for risk appetite

SPX

Bearish 🤖 65%

⚡ Intraday 🌍 US · Explicit

The S&P 500 was down 1.2% at the time of writing as stocks showed no relief from a slightly cooler PPI print. Traders were still digesting the resignation of Nvidia's CEO Jensen Huang, and rising odds (89.7%) of a Fed rate hike in December weigh on equity valuations.

Catalysts

▼ Jensen Huang's resignation as Nvidia CEO on Thursday
▼ PPI up 6.5% year over year, the largest annual gain since November 2022, lifting December 25bp hike odds from 85.4% to 89.7%

Risk Factors

▲ PPI came in 0.1 percentage points below expectations on both monthly and annual readings, which could ease rate-hike fears

🧭 Full analysis of these assets

🎯 Key Takeaways

Bitcoin is down 17.7% this quarter, marking its second-worst quarterly performance on record.
October PPI rose 6.5% year over year, the largest annual increase since November 2022.
Odds of a 25-basis-point Fed rate hike in December rose to 89.7% from 85.4% on Thursday.
Nvidia CEO Jensen Huang resigned on Thursday, contributing to a 1.5% decline in the Nasdaq Composite.
Stablecoin supply dropped $14.2 billion over the last 30 days, the largest decline since June 2022.

📝 Executive Summary

Bitcoin trades near $68,700, down 4% today after hitting a 12-week low of $67,500. Markets remain pressured as October PPI rose 6.5% year over year, the largest gain since November 2022, pushing December Fed rate-hike odds to 89.7%. Meanwhile, the S&P 500 and Nasdaq Composite fell 1.2% and 1.5% respectively, weighed down by the resignation of Nvidia CEO Jensen Huang.

❓ FAQ

BTC · How low could Bitcoin fall if the weekly support breaks?

After each of the two previous breakdowns below $73,000 in 2026, Bitcoin fell to around $60,000, per the analyst cited.

BTC · Why is Bitcoin falling despite cooler inflation data?

The October PPI was only 0.1 percentage points below expectations but still posted the largest annual increase since November 2022, so markets kept pricing a Fed rate hike in December, and Bitcoin remains under sell-side pressure with three weekly levels already lost.

COMP · Why is the Nasdaq hit harder than the S&P 500?

The tech-heavy index fell 1.5% versus 1.2% for the S&P 500, with traders still processing Nvidia CEO Jensen Huang's resignation on Thursday, a major weight on technology shares.

SPX · Why did the S&P 500 fall despite the cooler PPI report?

The index was down 1.2% as traders continued reacting to Nvidia's CEO stepping down and to PPI inflation that, while slightly below expectations, still posted the biggest annual gain since November 2022, keeping December rate-hike odds high.

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