By Bitcoin Falls Below C$100,000: What Happened and What It Means for Canadians
Bitcoin fell through two round numbers overnight. On the morning of Friday, November 13, 2026, one bitcoin costs about C$99,000 in Canada — down about 5.2% in 24 hours and below C$100,000 — after trading as low as US$67,568 in the United States, its lowest price since August 19. About US$1.4 billion of leveraged crypto trades were forcibly closed in the same 24 hours. This page explains what actually caused the drop, what it means if you hold bitcoin directly, through a Canadian bitcoin ETF, or inside your TFSA, and what the tax rules say if you sell at a loss. It explains the move — it does not predict the next one, and nothing here is a recommendation to buy or sell.
The numbers this morning
| Figure | Value, morning of Nov 13, 2026 |
|---|---|
| Bitcoin price in Canada | About C$99,000 (C$98,974 on CoinGecko’s BTC/CAD pair) |
| Bitcoin price in US dollars | About US$69,356, down 5.3% in 24 hours |
| Overnight low | US$67,568 — lowest since August 19 |
| 24-hour change in CAD | About −5.2% |
| Price one week ago (Nov 7) | About C$107,300 |
| All-time high in CAD (Oct 6, 2025) | C$175,909 — today is about 44% below it |
| Forced liquidations, 24 hours | About US$1.4 billion, roughly 89% long positions |
| Crypto Fear and Greed Index | 20 — “Extreme Fear,” down from 28 |
Sources: CoinGecko BTC/CAD and BTC/USD pairs checked on the morning of November 13, 2026; overnight low, liquidations and sentiment figures from CoinGlass and exchange data reported the same morning. Bitcoin trades 24 hours a day, so every printed price is a snapshot — by the time you read this, it will have moved again. For the standing explainer of how the Canadian price is built, see our guide to the bitcoin price in Canada in CAD.
Why bitcoin fell: four causes, in order
1. Hot US inflation revived rate-hike fears. US consumer prices rose 0.4% in October, with core inflation up 0.3%, according to the US Bureau of Labor Statistics. Earlier this week, Federal Reserve Governor Christopher Waller had said the Fed should consider a half-point rate hike in December if core inflation came in around 0.3% or higher — and it did. The Fed’s target range already sits at 3.75% to 4.00%. Higher-for-longer US rates make cash and bonds pay more, and they reliably pressure assets that pay no interest or dividends, bitcoin included.
2. US bitcoin ETFs saw a fifth straight day of outflows. US spot bitcoin ETFs recorded roughly US$300 million of net withdrawals on November 11 and about US$1.44 billion over five consecutive sessions. ETFs turned pension-sized funds into daily buyers of bitcoin; when the flows reverse for a week, that same machinery becomes a daily seller, and the price feels it.
3. A tech shock hit risk appetite. Nvidia’s board accepted the resignation of co-founder and CEO Jensen Huang on November 11, effective immediately, according to the company’s SEC filing, with CFO Colette Kress stepping in as interim CEO. Nvidia shares slid, technology stocks wobbled, and bitcoin — which has traded like a high-risk tech asset for years — fell with them rather than sheltering anyone from them.
4. Leverage turned a fall into a cascade. Once bitcoin broke below US$70,000, exchanges began forcibly closing leveraged bets that prices would rise. CoinGlass data put 24-hour liquidations at about US$1.4 billion across more than 170,000 traders, roughly 89% of them long positions. Forced selling does not care about anyone’s long-term thesis: each closure pushes the price lower, which triggers the next tier of closures. That is how an orderly pullback becomes a 5% day.
What this means in Canadian dollars
The Canadian price is not a separate market. It is the US price converted at the exchange rate: bitcoin in CAD = bitcoin in USD × the USD/CAD rate. This morning’s figures imply a rate of about 1.427 Canadian dollars per US dollar, with the loonie already near a one-month low. That conversion cushioned Canadian holders slightly this week — the fall is about 5.3% in US dollars and about 5.2% in Canadian dollars — but the same math works in reverse whenever the loonie strengthens.
Here is the week in one worked example. If you had bought $1,000 of bitcoin on November 7 at about C$107,300 per coin, you would hold about 0.00932 BTC. At about C$99,000 this morning, that holding is worth roughly $923 — a paper loss of about $77 in six days. Run the same arithmetic from the October 2025 all-time high of C$175,909 and $10,000 becomes about $5,630. Neither figure tells you what happens next. Both tell you the position-sizing rule that matters: money you will need within a year or two — a down payment, next semester’s tuition, your emergency fund — does not belong in an asset that can do this in a week. Cash you cannot afford to see fall by half belongs somewhere boring, which is why we keep pointing readers to our emergency fund comparison on days like this.
If you hold bitcoin in a TFSA or RRSP
You cannot hold bitcoin itself inside a TFSA or RRSP. Canadians who own bitcoin in registered accounts hold a listed spot bitcoin ETF, such as Purpose’s BTCC or Fidelity’s FBTC, which are qualified investments for registered accounts. Those ETFs track the same price, so a 5.2% fall in bitcoin is roughly a 5.2% fall in your ETF, less its fees. Two registered-account rules are worth remembering on a red day. First, losses inside a TFSA or RRSP cannot be claimed on your taxes — there is no capital loss to harvest inside a registered account. Second, selling inside the account does not create or destroy contribution room by itself; your TFSA room is based on contributions and withdrawals, not on the account’s market value, so a fall does not shrink your recorded room — but the money itself is still smaller, and it only recovers if the asset does. If you are reviewing how Canadians buy exposure in the first place, our guide to how to buy bitcoin in Canada compares regulated exchanges and ETFs with their fees.
If you sell at a loss: the Canadian tax angle
Outside registered accounts, the Canada Revenue Agency treats crypto as a commodity, not a currency. Selling, trading or spending it is a disposition. For an investor (as opposed to a business-like day trader), a sale below your adjusted cost base produces a capital loss. A capital loss cannot reduce your salary or other ordinary income, but it can offset capital gains — in the same year, carried back up to three years against gains you already paid tax on, or carried forward indefinitely. One trap matters on a day like today: the superficial loss rule. If you sell at a loss and you or your spouse buys the same asset back within 30 calendar days before or after the sale and still holds it at the end of that window, the loss is denied and added to the cost of the replacement holding instead. Our full explainer of crypto taxes in Canada walks through the records the CRA expects you to keep — date, CAD value and fees for every trade — which is one more reason to export your exchange history while prices, not paperwork, have your attention.
Common mistakes on a day like today
The first is panic-selling a long-term holding at the exact moment forced liquidations are doing the selling for everyone — the cascade phase of a drop is historically the worst-priced hour of it, in both directions. The second is the mirror image: “buying the dip” with money that has a job to do, because a 5% fall says nothing about whether the next move is up or down another 20%. The third is using leverage at all as a retail holder; nearly nine out of ten liquidated positions in the past 24 hours were people betting on a rise with borrowed money. The fourth is forgetting the tax record: a loss you cannot document is a loss you cannot claim. And the fifth is checking the price in US dollars only — your actual gain or loss is in Canadian dollars, exchange rate included.
What to do next
Work out your exposure in dollars, not in coins: how much of your total savings sits in bitcoin and bitcoin ETFs, across every account? If the answer surprises you, that — not today’s headline — is the thing to fix, calmly and on your own schedule. Confirm your emergency fund is intact and separate. If you sold anything this week, download the trade records now. Then leave the liquidation cascade to the leveraged traders; days like this are precisely the cost of the asset’s long-term return, whichever direction you believe that return goes from here.
Frequently asked questions
Why is bitcoin down today, November 13, 2026?
Four causes combined: hotter-than-expected US October inflation (up 0.4%, core up 0.3%) revived talk of a December Federal Reserve rate hike; US spot bitcoin ETFs posted a fifth straight day of outflows, about US$1.44 billion over five sessions; technology stocks fell after Nvidia’s CEO resigned on November 11; and the slide through US$70,000 triggered about US$1.4 billion of forced liquidations, roughly 89% of them long positions.
What is the bitcoin price in Canada today?
About C$99,000 on the morning of November 13, 2026 — C$98,974 on CoinGecko’s BTC/CAD pair, down about 5.2% in 24 hours, with an overnight US-dollar low of US$67,568. Bitcoin trades around the clock, so the live price will differ from any printed snapshot.
How far is bitcoin below its all-time high in Canadian dollars?
About 44%. Bitcoin’s Canadian-dollar all-time high was C$175,909 on October 6, 2025. At about C$99,000, $10,000 invested at that high would be worth roughly $5,630 today.
Does a bitcoin fall inside my TFSA affect my contribution room?
No. TFSA contribution room is calculated from your deposits and withdrawals, not from market value. A fall makes your account smaller but does not reduce your recorded room — and a loss inside a TFSA cannot be claimed on your taxes.
Can I claim a capital loss if I sell bitcoin at a loss in Canada?
Generally yes, outside registered accounts: for an investor, the loss is a capital loss that can offset capital gains in the same year, be carried back three years, or be carried forward indefinitely. Beware the superficial loss rule — buying the same asset back within the 30-day window around the sale can deny the loss.
Should I buy bitcoin now that it is cheaper?
This page deliberately does not answer that. A 5% fall is not evidence about next week in either direction. The useful questions are about your own finances: is the money spare, is the position a size you can watch fall further without acting, and is your emergency fund separate? Those answers matter more than any single day’s price.
Bottom line: Bitcoin’s drop below C$100,000 was a macro and leverage event — US inflation, ETF outflows, a tech shock and US$1.4 billion of forced selling — not a Canada-specific story. For Canadian holders, the price that matters is the Canadian-dollar one, the tax rules reward good records, and the only decision today has to get right is position size.
