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Bitcoin reclaims $70,000 following cooler US PPI inflation data

Bitcoin climbed back above the $70,000 threshold after cooler-than-expected U.S. PPI data triggered an immediate market bounce and wiped out $50 million in leveraged short positions.

A Binance BTC/USDT candlestick chart showing Bitcoin spiking from an intraday low of $69,068.14 to over $70,200.
Image: @blocknewsdotcom

Bitcoin surged back above the $70,000 level on Nov. 13, 2026, lifted by lower-than-expected U.S. Producer Price Index (PPI) inflation figures. The sudden rebound produced sharp upward candle wicks across major trading pairs, carrying the price above $70,200 on Binance and past $70,100 on dollar charts, even as the asset remained down between 2% and 3.3% on the day.[1][2][3]

The rapid spike caused substantial pain for bearish derivatives traders, triggering $50 million in leveraged short liquidations across the crypto market within just 15 minutes, according to BlockNews. Binance trading data captured the swift jump from an intraday low of $69,068.14 to a peak of $70,214.31.[1]

The softer macro reading also spurred gains in traditional safe-haven assets. Coin Bureau reported that gold rose 0.6% to top $3,900, reaching roughly $3,905.85 following the release. The outlet noted that the cooling producer inflation figures could ease pressure on the Federal Reserve to deliver a larger 50-basis-point interest rate hike at its December meeting.[2]

Key facts

  • Bitcoin climbed above $70,000 following cooler-than-expected U.S. Producer Price Index inflation data on Nov. 13, 2026.
  • BlockNews reported that $50 million in leveraged short positions were liquidated across the crypto market in 15 minutes.
  • A Binance BTC/USDT chart showed a rapid advance from $69,068.14 to $70,214.31, leaving the pair down 3.31% over 24 hours.
  • A Bitcoin/USD chart shared by Crypto Rover showed a wick to approximately 70,100, with the pair down 2.04% on the session.
  • Gold jumped 0.6% to top $3,900, reaching about $3,905.85 following the inflation release, according to Coin Bureau.
  • Coin Bureau noted that the softer PPI data could diminish expectations for a 50-basis-point Federal Reserve interest rate hike in December.

Sources 路 3 sources

  1. BL

    BlockNews@blocknewsdotcomPost on X 路

    馃毃 LATEST: Bitcoin $BTC surges above $70,000 following LOWER-THAN-EXPECTED U.S. PPI inflation data! 馃殌 A massive $50 MILLION in leveraged SHORT positions liquidated across the crypto market in just 15 MINUTES! https://t.co/Wxj74SXfwk

    Open source
  2. CB

    Coin Bureau@coinbureauPost on X 路

    馃敟BULLISH: Bitcoin and gold SURGED after cooler-than-expected PPI release. $BTC jumps 1.35% breaking $70,000 GOLD increased 0.6% reaching over $3,900 The SOFTER reading could ease pressure for a larger 50 bps December Fed hike.

    Open source
  3. CR

    Crypto Rover@cryptoroverPost on X 路

    BREAKING: $BTC just reclaimed $70,000. Send it! 馃殌 https://t.co/prAqgKrYLd

    Open source