CZ denies Binance sold crypto as Bitcoin bounces from four-month low near $62,000

Binance co-founder Changpeng "CZ" Zhao denied the exchange is selling Bitcoin as price losses led $2 billion in crypto positions to be liquidated over a 24-hour period this weekend.

Markets•November 15, 2026, 4:57PM EST
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CZ denies Binance sold crypto as Bitcoin bounces from four-month low near $62,000

Quick Take

  • Bitcoin hit a four-month price low around $62,000 before recovering to around $65,000 Sunday afternoon, with BTC remaining down 14% over the past week.
  • The price moves across the market led to $2 billion in crypto liquidations in a single 24-hour period over the weekend. 
  • Binance co-founder and former CEO Changpeng Zhao said on X the exchange had not sold crypto and that he had bought some himself in recent days.

Bitcoin Bitcoin (BTC) fell to its lowest level since July over the weekend as a selloff across major cryptocurrencies triggered roughly $2 billion in liquidations. 

Bitcoin traded as low as $62,000 before recovering to $64,910 by late Sunday afternoon, down 14.2% on the week, according to The Block's Bitcoin price page. Ether Ethereum (ETH) fell 18.2% over the same period to $1,815, while Solana Solana (SOL) lost 19.7% to trade at $71.68.

Crypto liquidations totaled $2.02 billion from 8 a.m. ET Saturday to 8 a.m. ET Sunday, according to CoinGlass's hourly data. Longs accounted for $1.68 billion and shorts for $342.4 million. By about 4:30 p.m. ET Sunday, CoinGlass's live 24-hour tally was down to $742.9 million, following the modest recovery in prices. 

CZ points to ETF outflows, rate hike bets

Binance co-founder and former CEO Changpeng "CZ" Zhao denied rumors that the world's largest exchange was selling crypto following its recent record-breaking hack on Oct. 29. 

"No, Binance did not sell crypto," Zhao wrote in a post on X. He said he had used stablecoins he recently received to buy crypto over the past few days.

Zhao cited withdrawals from U.S. spot bitcoin ETFs and expectations of another Federal Reserve rate hike as possible reasons for the slide. He also suggested investors could be freeing up cash for Anthropic's planned IPO and pointed to security concerns following the October Binance hack.

U.S. spot bitcoin ETFs saw $1.91 billion in net outflows over seven straight trading days through Friday, as The Block previously reported. Spot ether ETFs shed $398.9 million last week, their seventh consecutive week of withdrawals, approaching their record of eight.