By A Canadian who bought bitcoin on Friday morning woke up Saturday to a second, harder fall. On Saturday, November 14, 2026, bitcoin broke below US$65,000 and traded as low as US$63,528 — down 6.6% in 24 hours. In Canadian dollars the daily close was about C$91,500, after C$97,409 the day before and about C$99,000 when we wrote about the first drop below C$100,000 on November 13. By Sunday morning the price had bounced partway back to roughly C$93,100. By the end of this article you will know what actually pushed the second leg down, the three numbers that tell you whether this is a cascade or a trend, and the one check every Canadian holder should do before touching a buy or sell button — it has nothing to do with the price.
The numbers this weekend, in Canadian dollars first
| Figure | Value |
|---|---|
| Bitcoin, Saturday low (US$) | US$63,528 (CoinGecko, Nov 14, 23:03 UTC), down 6.6% in 24 hours |
| Bitcoin daily close, Nov 14 (CAD) | About C$91,533, down 6.03% on the day |
| Bitcoin daily close, Nov 13 (CAD) | C$97,409, down 4.28% |
| Bitcoin, Sunday morning Nov 15 (CAD) | About C$93,100 — a partial bounce, not a recovery |
| Change over 7 days (CAD) | Roughly -12% to -16%, depending on the data provider |
| Change over 30 days (CAD) | About -20% |
| Liquidations in one hour, Nov 14 | About US$691 million, about US$671 million of it long positions |
| US spot bitcoin ETF outflows | 7 straight sessions; about US$1.91 billion out since November 5 |
| Fear and Greed Index | 13 — extreme fear, down from 20 the day before |
| Canadian-dollar all-time high (Oct 6, 2025) | C$175,909 — this weekend’s price is roughly 47% below it |
Sources: CoinGecko and CoinMarketCap BTC/CAD history checked on the morning of November 15, 2026; liquidation figures from CoinGlass data reported November 14; ETF flows from SoSoValue and Farside Investors data reported the same weekend. Bitcoin trades around the clock, and weekend books are thin, so every figure here is a snapshot. For how the Canadian price is built from the US price and the exchange rate, see our standing guide to the bitcoin price in Canada.
That table answers the “what.” The harder question is why a market that had already fallen 5% on Friday fell harder on Saturday — and the answer is mechanical before it is emotional.
Why the second drop was faster than the first
1. The leverage was still there. Friday’s fall to about C$99,000 liquidated roughly US$1.4 billion of leveraged trades, but it did not clear the market. When bitcoin slipped under US$65,000 on Saturday afternoon, exchanges force-closed another wave: about US$691 million in a single hour, and about US$671 million of that was traders betting on a rise. Forced selling ignores everyone’s long-term view. Each closure pushes the price down, which triggers the next closure. That is the whole cascade.
2. The ETF bid stayed off for a seventh day. US spot bitcoin ETFs posted a seventh straight session of net outflows on Friday — about US$185 million that day and about US$1.91 billion since November 5. These funds were the steady daily buyer that absorbed dips all year. A bid that flips to a seller for seven sessions straight changes what a “dip” does: there is no automatic buyer underneath it.
3. Rate-hike bets hardened. After hot US inflation data earlier in the week, the CME FedWatch tool on Saturday put an 88.5% probability on a 25-basis-point Federal Reserve hike in December, with 11.5% on a half-point move. The 10-year Treasury yield pushed above 5% during the week. Assets that pay no interest or dividends compete directly with a 5% risk-free yield, and right now they are losing that contest.
4. Weekend liquidity did the rest. Spot bitcoin ETFs do not trade on weekends, order books are thinner, and the same sell order moves the price further on a Saturday than on a Tuesday. Part of Saturday’s speed is simply the calendar.
None of those four forces is a Canada story. All four land on Canadian holders at full strength, converted into Canadian dollars — which is where the real arithmetic starts.
What a C$10,000 position looks like now — check your own number
Run this with your own figures, because percentages hide dollars. If you held C$10,000 of bitcoin on November 7, when the price was about C$107,300, the same coins were worth about C$9,230 on November 13 (at about C$99,000), about C$8,530 at Saturday’s close (at about C$91,533), and about C$8,680 on Sunday morning (at about C$93,100). From the October 2025 all-time high of C$175,909, a C$10,000 position would be worth roughly C$5,300 today.
Now the check that matters: what share of your total savings is that position? If bitcoin is 3% of your money, this week cost you well under 1% of your savings — annoying, not dangerous. If it is 40%, this week cost you about 6% of everything you own, and the position size, not the headline, is your problem. Write the dollar figure down. Decisions made from a dollar figure are calmer than decisions made from a percentage on a red chart. And if the money in that position has a job — a down payment, tuition, your safety cushion — it belongs somewhere that cannot do this, which is the entire point of an emergency fund kept separate.
If you hold a bitcoin ETF in your TFSA, this part is different
Canadians cannot hold bitcoin itself in a TFSA or RRSP. Registered-account holders own a listed spot bitcoin ETF such as Purpose BTCC or Fidelity FBTC, which are qualified investments — and those ETFs fell with the same market this weekend. Two rules matter on a weekend like this. First, a loss inside a TFSA or RRSP cannot be claimed on your taxes; there is no capital loss to harvest inside a registered account. Second, your TFSA contribution room is built from deposits and withdrawals, not market value, so the fall does not shrink your recorded room — but the money itself is smaller, and it only comes back if the asset does. Our guide to how to buy bitcoin in Canada compares the regulated-exchange and ETF routes and their fees, for anyone reviewing how they hold exposure in the first place.
Outside registered accounts, the tax angle runs the other way — and a falling market is exactly when it becomes useful, which is the next section.
Sold at a loss this week? The Canadian tax rule that pays you back
The Canada Revenue Agency treats crypto as a commodity, not a currency. Selling, trading or spending it outside a registered account is a disposition. For an investor, a sale below your adjusted cost base is a capital loss. It cannot reduce salary income, but it can offset capital gains in the same year, be carried back three years against gains you already paid tax on, or be carried forward indefinitely. One trap decides whether the loss counts: 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 folded into the cost of the new holding instead. Our full explainer of crypto taxes in Canada lists the records the CRA expects — date, Canadian-dollar value and fees for every trade. Export yours this weekend, while the trades are fresh; a loss you cannot document is a loss you cannot claim.
Common mistakes on a weekend like this
The first is selling into the cascade hour itself — when US$691 million of forced selling lands in sixty minutes, the price you get is the worst one of the week, in either direction. The second is the mirror image: buying the fall with money that has a deadline, because a 20% monthly drop contains no information about whether the next 20% is up or down. The third is leverage in any form; about 97 cents of every dollar liquidated in Saturday’s worst hour belonged to someone betting on a rise with borrowed money. The fourth is watching only the US-dollar price — your gain or loss is in Canadian dollars, and this week the exchange rate near 1.426 moved your result too. The fifth is forgetting that Monday is a data point, not a verdict: the first ETF flow numbers of the new week will show whether the seven-day outflow streak broke or extended.
What to do next
Do the dollar check above. Confirm your emergency fund is intact and separate from any crypto holding. If you sold anything this week, download the trade records now, before the superficial-loss window becomes a question you have to reconstruct in April. Then let the leveraged market finish its argument with itself. This article explains the move; it does not predict the next one, and nothing in it is a recommendation to buy or sell.
Frequently asked questions
Why is bitcoin down again today?
The second leg down on November 14, 2026 was mainly mechanical: bitcoin slipping under US$65,000 triggered about US$691 million of forced liquidations in one hour, almost all of them long positions. Behind that sat seven straight sessions of US spot bitcoin ETF outflows (about US$1.91 billion since November 5), hardened bets on a December Federal Reserve rate hike, and thin weekend trading.
What is the bitcoin price in Canada right now?
About C$93,100 on the morning of Sunday, November 15, 2026, after a Saturday daily close near C$91,533 (down 6.03%) and a US-dollar low of US$63,528. Bitcoin trades 24 hours a day, so the live price will differ from any printed snapshot.
How far has bitcoin fallen in Canadian dollars?
About 20% in 30 days, roughly 12% to 16% in the past week depending on the provider, and roughly 47% below its Canadian-dollar all-time high of C$175,909 from October 6, 2025.
Can I claim a tax loss if I sold bitcoin this week in Canada?
Generally yes, outside registered accounts: an investor’s capital loss can offset capital gains in the same year, be carried back three years, or be carried forward indefinitely. Watch the superficial loss rule — buying the same asset back within the 30-day window around the sale can deny the loss. Losses inside a TFSA or RRSP cannot be claimed at all.
Does the fall change my TFSA contribution room?
No. TFSA room is calculated from your deposits and withdrawals, not from market value. A fall makes the account smaller but leaves your recorded room unchanged.
Should I buy bitcoin now that it is cheaper?
This page deliberately does not answer that. A 20% monthly 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?
Bottom line: Bitcoin’s second drop — to US$63,528 and about C$91,500 — was a leverage and flows event: US$691 million liquidated in an hour, a seventh day of ETF outflows, and rate-hike bets near 90%. For Canadians, the price that matters is the Canadian-dollar one, the tax rules reward good records, and position size is the only decision this weekend actually requires. Send this to someone who is checking the price in US dollars only. Not financial advice. For education purposes only.
Read next: Crypto Taxes in Canada (2026): How the CRA Taxes Bitcoin, Trading and Staking
